Just two years ago an office space in midtown Manhattan could fetch close to $1.7 billion. Today, the same property trades for about $600 million. A sign the commercial real estate market will be the next shoe to drop in the U.S. economy? Paul Solman reports. Continue reading
Testifying before lawmakers Thursday, Ben Bernanke reiterated a call for the Fed to be given supervisory powers over institutions that pose a systemic risk to the financial system, and proposed that a council of regulators help monitor risk. Continue reading
As the leaders of the G-20 meet in Pittsburgh to discuss how to overhaul the global financial system, countries are calling for a wide spectrum of reforms. But a dramatic overhaul of how the global economy is run may be unlikely. Continue reading
One year after the fall of Lehman Brothers’ brought the global economy to the brink of collapse, questions remain as to whether the government has been tough enough on Wall Street. Experts explain why. Continue reading
Editor’s note: Paul also recently sat down with Harvey Miller, lawyer for Lehman Brothers during its descent into bankruptcy, for an insider’s look at what it was like meeting with government regulators as Lehman faced collapsed.
Editor’s note: All this week on the Business Desk, we have been featuring contributions from economists, financial journalists, and other experts on the origins and impact of the financial crisis. Today, we asked a few of our favorite experts who … Continue reading
Editor’s note: Last night on the NewsHour, Paul filed a compelling report on the fall of Lehman Brothers one year after the firm’s descent into bankruptcy. He traces Lehman’s fall from storied Wall Street investment bank to catalyst for the … Continue reading
Editor’s note: All this week on the Business Desk, we’ll be featuring contributions from economists, financial journalists, and other experts on the origins and impact of the financial crisis. We asked several experts to weigh in on the single most … Continue reading