Treasury Secretary Henry Paulson announced a major shift in the government’s bailout program Wednesday, saying the $700 billion rescue package will not be used to purchase troubled assets as originally planned. Continue reading
The stock market crash of 1929 offers parallels to the spiraling financial crisis of the 21st century, giving insight to measures that can help correct the collapse. Paul Solman talks to two authors on the Great Depression who assess the government’s role and analyze policy choices. Continue reading
Question/Comment: What are the connections between investment banks/houses and the stock market? How much of these investment banks’ portfolios are tied up in the stock market, and how much is in other places (like loans to businesses)? Paul Solman: Investment … Continue reading
- Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bailout?
Question/Comment: Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bail out? Nobody has spelled this out in detail as far as I know. Can we expect our … Continue reading
Congress must soon decide on a U.S. Treasury-Federal Reserve measure to save mortgage giants Freddie Mac and Fannie Mae from further crisis. An economics editor and House Financial Committee members weigh the options. Continue reading