Stocks tumbled after the government expanded aid to struggling insurer American International Group and the company reported a huge quarterly loss. Analysts examine what this could mean for the broader financial outlook. Continue reading
President Obama’s budget plan outlines large-scale changes in tax policy, calling for $318 billion of tax increases over the next 10 years for the wealthiest individuals and families combined with tax cuts for the middle class. Analysts discuss the impact of the changes. Continue reading
Question/Comment: I’m retired and considering investing in Citigroup and BAC. However, I keep hearing the word “nationalization.” Would my prospective investment be lost should the Government nationalize Citigroup and BAC? What is the likelihood that the Government will nationalize? If … Continue reading
Federal regulators vowed Monday to assist struggling banks by increasing the government’s ownership stakes while an Obama spokesman said the president supports a private banking system. A financial reporter discusses the deepening crisis amid large market losses. Continue reading
As the country struggles through an economic crisis, Paul Solman talked to author Jared Diamond about his book “Collapse: How Societies Choose to Fail or Succeed” on Friday’s NewsHour. Read the transcript here.
Editor’s Note: Paul recently answered “Five Good Questions” on the economy for the PBS Engage blog. You will also be able to find those answers here on the Business Desk all week. Question/Comment: How does our economy being more globally … Continue reading