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
Question/Comment: Could you explain where all the money went that supposedly vanished during the Wall Street meltdown? Who has it? Was it imaginary or did it really exist? Paul Solman: All Wall Street values are imaginary. All money is imaginary. … Continue reading
Question/Comment: Dear Mr. Solman, Is there an “economic event”, or re-discovery of economic history that can impact the incredible ideological stranglehold on the economics “profession?” In my opinion we have sacrificed rigorous econometrics on the altar of existence theorems, Diophantine … Continue reading