Mar 16 Fed Holds Key Interest Rate Near Zero The Federal Reserve repeated its pledge on Tuesday to hold its key interest rate near zero "for an extended period." In a statement, the central bank said, "Information received since the Federal Open Market Committee met in January suggests… Continue reading
Mar 16 Geithner Profile: 'A Creature of Washington' By Carolyn O'Hara Treasury Secretary Tim Geithner is on the Hill before a House committee Tuesday to testify about the budget and economy. Geithner will also be making the media rounds to plug Sen. Dodd's financial reform bill that was unveiled… Continue reading
Mar 16 Peru: Growth in a Time of Recession By Ray Suarez Old Peru: bloated state sector, runaway borrowing, hyperinflation, presided over by President Alan Garcia. New Peru: trimmed-down state sector, privatization, solid currency, presided over by President Alan Garcia. Peru was once a stereotypical victim of multiple Latin American diseases. Poorly… Continue reading
Mar 16 Watch News Wrap: Fed Keeps Interest Rate Low In other news Tuesday, the Federal Reserve kept interest rates low and gave an optimistic view of the economy and Honda launched a recall on several vehicle models because of brake problems. Continue watching
Mar 16 Watch GOP: Financial Reform Bill Needs Closer Look The Senate Banking Committee is considering a new plan for regulating large banks and financial firms and the amount of risk they assume. Judy Woodruff talks to the committee's top Republican, Sen. Richard Shelby of Alabama, about why Republicans want… Continue watching
Mar 16 Watch Payday Lenders Face Increasing Scrutiny Starting off a two-part look at plans to overhaul the nation's financial industries, Ray Suarez reports on the call for more regulation of payday lenders. These businesses have been criticized for preying on the poor by offering short-term, high-interest loans. Continue watching
Mar 15 Obama and FCC Betting on Broadband as Stimulus By Chris Amico _pap_embed_custom('news01s3cc0qe29',482,304,""); The Federal Communications Commission and the Obama administration will unveil a plan Tuesday to broaden high-speed Internet access in the United States and encourage telecom companies to provide faster download speeds. The plan comes from a directive in last… Continue reading
Mar 15 Dodd Unveils Financial Regulation Bill Sen. Chris Dodd, D-Conn., unveiled a bill Monday to overhaul the U.S. financial system, proposing new powers for the Federal Reserve to oversee the nation's largest financial firms; a consumer protection agency housed within the Fed; and a new… Continue reading
Mar 15 From the Archive: Tackling Financial Reform Editor’s note: With Sen. Chris Dodd unveiling a bill to overhaul the nation’s financial system Monday, we’re dipping into our Business Desk archives to pull out expert commentary featured here over the past few months on how sweeping the changes… Continue reading
Mar 12 Wall Street 'Abuzz' Over Lehman Autopsy Report A massive 2,200-page report detailing what brought about the collapse of Lehman Brothers in September 2008 was released late Thursday, concluding that "accounting gimmicks" and "balance sheet manipulation" by some executives helped turn the 158-year-old financial firm into… Continue reading