On the first of two report card days for big banks in America, all but one bank received a passing grade from the Federal Reserve.
The central bank released the results of its “stress test” of 30 bank-holding companies with consolidated assets of $50 billion or more Thursday, showing that most of these institutions have enough capital to withstand a severe economic downturn. Continue reading
President Obama has appealed to the nation’s chief executives to hire job applicants who’ve been unemployed long-term. The Bureau of Labor Statistics estimates nearly 4 million Americans have been without work for 27 weeks or more. On Friday, the president hosted top leaders from eBay, Boeing, Morgan Stanley and a number of other major companies at the White House. Continue reading
As members of the Occupy movement sought answers on Capital Hill Tuesday, reports also circulated that bonuses on Wall Street will be lower this year. Judy Woodruff discusses what the declining dollars mean with financial writer William Cohan and compensation consultant Brian Foley. Continue reading
Lehman Brothers survived the Civil War, the Great Depression, two World Wars, and the attacks of 9/11, yet under the leadership of Richard Fuld the investment bank went from storied Wall Street firm to catalyst of last year’s economic crisis. What went wrong? Paul Solman reports. Continue reading
Question: My question is: What about U.S. bond holders? I’ve seen bailouts of incompetent banks and businesses and some selective shareholder groups. Investment grade bonds were considered to be the safest investment next to FDIC-insured CDs, but the bondholders are … Continue reading
Question: If you have not already done so, would you please explain the warrants that seem to be troubling the financial institutions at the moment? If you’ve already done so, I apologize for asking unnecessarily. Paul Solman: Hey, even if … Continue reading
Ten large U.S. banks have been cleared by the Treasury Department to start repaying $68 billion in bailout money and begin to free themselves from an extraordinary government intervention program that began amid the global financial crisis. Continue reading