Jul 20 Ask Fed Chief Ben Bernanke About the Economy By Business Desk Paul Solman: My longtime motto: There is no big time. But if there were, this might be your chance to become part of it. You can pose an economic question here — not to me or even one of my… Continue reading
Jul 17 Bank of America, Citigroup Report Strong Profits By PBS News Hour Two ailing banks that just a few months ago symbolized many of the troubles afflicting the American banking system posted strong second-quarter profits Friday, exceeding analysts' expectations. Continue reading
Jul 17 A Little Poetry for California’s Crisis Paul Solman: Questions keep coming in about the likelihood and consequences of a California default on its bonds. One unexpected result might be anger for the ages. Here’s Lake Poet William Wordsworth on the 1842 bond default of Pennsylvania,… Continue reading
Jul 16 Watch Paulson Defends Bank of America-Merrill Lynch Deal Former Treasury Secretary Hank Paulson testified Thursday in the third and final House hearing looking into the government's role in the Bank of America purchase of Merrill Lynch. Jim Lehrer discusses the hearings with Binyamin Appelbaum of the Washington Post. Continue watching
Jul 16 Watch Other News: Markets Advance, Auto Dealers Gain Congressional Support In other news, Wall Street advanced on tech stocks, and House members introduced a proposal that would force GM and Chrylser to restore franchise agreements with auto dealers. Continue watching
Jul 16 China Holds Workers, Stirring Diplomatic Spat By PBS News Hour China's detention of four employees of the Australian mining company Rio Tinto on suspicion of stealing government secrets earlier this month has caused a stir on the global business front. Continue reading
Jul 16 China’s Economy Rebounds With Sizable Growth By PBS News Hour The Chinese government reported that the country's economy grew by 7.9 percent in the second quarter of this year, fueled by massive stimulus spending and more than $1 trillion in lending by state-run banks. Continue reading
Jul 16 Paulson Rebuts Congress’ Rebuke on Bank Merger By PBS News Hour Lawmakers grilled former Treasury Secretary Henry Paulson Thursday over the government's role in Bank of America's merger with Merrill Lynch, saying authorities withheld information about losses and intimidated bank executives into sealing the deal. Continue reading
Jul 16 How is the U.S. Savings Rate Determined? Question: How is the U.S. savings rate, which has gone from near zero percent in the past to 6.9 percent recently, determined? And a more elaborate question: Is it truly the difference between what is earned and what is… Continue reading
Jul 15 Watch Other News: Markets Jump, Plane Crashes in Iran In other news, large gains in the banking and tech sectors led markets higher, and a passenger plane crashed in Iran, killing all 168 people on board. Continue watching