The Commerce Department reported Wednesday that consumer spending fell for a fifth straight month in November, and Americans’ incomes dropped as well, partially reflecting massive job layoffs. Continue reading
Financial regulatory efforts apparently failed in the case of IndyMac, which was reportedly allowed to alter records to appear stronger than it was shortly before the sub-prime meltdown. Analysts take a closer look. Continue reading
Despite an uptick in consumer confidence in December due to declining prices, most of Tuesday’s economic news was gloomy, led by a shrinking economy and falling corporate profits and home sales. Continue reading
The Los Angeles Museum of Contemporary Art has agreed to accept $30 million in financial assistance from billionaire philanthropist Eli Broad, the Los Angeles Times reported.
Question/Comment: It seems to me there’s been a shift in market thinking in the recent past. I’m not sure that it’s my responsibility to go out and shop to keep businesses afloat; I always thought that it was business’ responsibility … Continue reading
On Monday’s NewsHour, Paul Solman examined whether big infrastructure projects, such as the one being considered by President-elect Barack Obama, are an effective way to create new jobs and stimulate the economy.
With half of the $700 billion in financial industry rescue funds already allocated, new questions are emerging over exactly how banks have used the money. A financial reporter and a top GAO official examine the issue. Continue reading
Some economists believe increasing government spending on infrastructure is the only way out of the nation’s economic crisis. Paul Solman reports on how infrastructure spending may be a crucial way to resuscitate the economy. Continue reading