Food banks and charities around the country are experiencing shortages as the economy continues to slide. In a two-part report, Tom Bearden examines how food banks are faring and Ray Suarez talks to analysts about the rising number of Americans using food stamps. Continue reading
Question/Comment: Given the history of the ever increasing U.S. national debt and our fluctuating economy, how realistic is it that we will ever pay down or even pay off the national debt? We have never managed to maintain the necessary … Continue reading
Question/Comment: If the world today has all the same resources it had yesterday and America is losing money there must be someone somewhere gaining from this crisis in order for there to be a balance. Am I right? If I … Continue reading
Question/Comment: If banks do not have money to lend, how can Citicorp, Wells Fargo, etc. come up with billions to purchase failing banks and finance firms? Paul Solman: They aren’t forking over any cash. “Purchase” means subsume. Wachovia becomes part … Continue reading
Question/Comment: Can you explain, simply, what a credit default swap is? Paul Solman: I sure hope so. Basically, a credit default swap or “CDS” is an insurance contract to protect against bankruptcy. Say you own a lot of Ford Motor … Continue reading
- Last year Lehman Brothers’ CEO made $71 million. Now his company has collapsed. How much will he make this year?
Question/Comment: Last year Lehman Brothers’ CEO Richard Fuld, Jr. made $71 million. Today his company collapsed. How much will he make this year? Paul Solman: I don’t know about this year. You’ve covered last. In 2006, according to Forbes.com, he … Continue reading
Question/Comment: Fannie Mae and Freddie Mac, we are told, are so big, we can’t allow them to fail. We taxpayers could end up footing the bill for as much as $200 billion. Where will that money come from? How will … Continue reading