While the Big Three U.S. automakers’ hopes of an immediate financial shot in the arm were dashed Thursday on Capitol Hill, they are expected to meet lawmakers’ demands to craft a convincing plan for rebuilding their once-mighty industry by Dec. 2. Continue reading
Editor’s Note: Paul Solman spoke with Nobel-winning economist Robert Solow on the financial crisis.
- If There Isn’t a Bailout of the Big Three Auto Firms, What is the Overall Effect on the Government and on Our Economy?
Question/Comment: If there isn’t a bailout of the Big Three auto firms, what is the overall effect on the government and on our economy? Paul Solman: Well, in a time of fearsome recession or worse, the loss of another quarter-million … Continue reading
Nobel laureate and economist Robert Solow offers his thoughts on the severity of current economic turmoil and the chances of the situation leading to another Great Depression in a conversation with Paul Solman. Continue reading
U.S. stocks plunged again Thursday to five-year lows, fueling new concerns of retirement savings and 401(k) plans. Economic analysts mull the risks of stock market investment and challenges to saving for retirement. Continue reading
U.S. stocks plunged again Thursday to a five-year low as hopes dimmed that lawmakers could quickly put together an aid package for U.S. automakers. Continue reading
U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy’s woes and as new data showed the number of new claims for jobless benefits was at its highest level in 16 years. Continue reading
Auto industry executives testified before Congress Wednesday, asking lawmakers to provide aid to the struggling companies and responding to criticisms of poor management. General Motors’ CEO Rick Wagoner discusses the industry’s crisis and his company’s case for government help. Continue reading
Consumer prices made their biggest drop in decades in October, due in part to lower gasoline and energy prices. Continue reading