Jun 09 Watch Treasury Clears 10 Banks to Repay $68 Billion in Bailout Money Treasury Secretary Timothy Geithner faced lawmakers' questions after the announcement that ten large banks have been cleared to begin paying back billions of dollars in federal rescue money. Jeffrey Brown talks to Washington Post reporter Binyamin Appelbaum about the details. Continue watching
Jun 09 Which Banks Are Repaying TARP Funds? By PBS News Hour The U.S. Treasury announced Tuesday that 10 large banks would be permitted to start repaying approximately $68.3 billion in total bailout funds they received from the government in the past nine months. Continue reading
Jun 09 Ten Banks Allowed to Repay $68B in Bailout Funds By Admin, PBS News Hour Ten large U.S. banks have been cleared by the Treasury Department to start repaying $68 billion in bailout money and begin to free themselves from an extraordinary government intervention program that began amid the global financial crisis. Continue reading
Jun 09 If Banks Still Followed Mark-to-Market Rules, What Would Their Losses Look Like? Question: What is the actual amount that banks have “lost” if banks still had to follow mark-to-market rules? My understanding is that our large banks would be insolvent by almost a trillion dollars if they had to declare what… Continue reading
Jun 08 Watch GM Woes Hit Close to Home for Young Graduates In the first of a new set of reports for the Generation Next series, Judy Woodruff traveled to Detroit to profile recent graduates from a GM training program who are now facing the prospect of finding a new career. Continue watching
Jun 08 Watch Other News: Obama Touts Stimulus, Ruling Party Wins in Lebanon In other news, President Barack Obama predicted stimulus funds will help create or save 600,000 jobs this summer and Lebanese election results show the ruling, pro-Western bloc beat back a political challenge from Hezbollah. Continue watching
Jun 08 How Do the Social Security and Medicare Trust Funds Work? Question: How do the Social Security and Medicare trust funds work? My understanding is that there is no money there, so that general government revenues have to be tapped to answer calls on them. Thus they are insolvent now? Paul… Continue reading
Jun 05 Watch Fraud Charges Filed Against Countrywide Mortgage Chief The Securities and Exchange Commission has filed civil fraud charges against Angelo Mozilo, head of the Countrywide Financial mortgage firm, for misleading investors about the company's lending practices. Analysts assess the case's impact. Continue watching
Jun 05 Watch Other News: General Motors Strikes Tentative Saturn Deal In other news, General Motors Struck a tentative deal to sell its Saturn brand, and Brazilian investigators said the debris they discovered in the Atlantic Ocean was not from Air France Flight 447. Continue watching
Jun 05 Watch Unemployment Rate Hits 26-Year High, but Job Cuts Slow Although the rate of U.S. job losses slowed in May, unemployment rose to 9.4 percent, the highest rate in 26 years. Economist Lisa Lynch explains the new job numbers. Continue watching