Apr 20 Bank of America Posts Better-Than-Expected Earnings By PBS News Hour Bank of America, the largest U.S. lender by assets, reported that its income in the first quarter of 2009 more than tripled to $4.2 billion. Continue reading
Apr 20 Who Pays the Rating Agencies? Question: Who pays the rating agencies, like Moody’s? What is the source of their income? Paul Solman: That’s been the scandal. They’re paid by the issuers of the bonds and stocks they rate. They thus have a huge incentive not… Continue reading
Apr 17 Watch Bolivia’s Lithium Resources May Prove Hot Commodity Bolivian leaders are debating whether the country's vast natural reserves of lithium -- a key ingredient powering electric cars -- should be nationalized in order to boost the nation's struggling economy. ITN's Channel 4 news correspondent Lindsey Hilsum reports. Continue watching
Apr 17 Why Doesn’t the Yuan Trade Like Other Currencies? Question: Why don’t we let the yuan trade like other currencies? Even now, the yuan has an 20 percent or higher edge on other currencies because of the existing rules. Paul Solman: Now, now, Maya, as my dad used to… Continue reading
Apr 17 EPA Report Marks First Step Toward Climate Change Regulations By Brian Santalone Carbon dioxide and five other heat-trapping greenhouse gas emissions are a danger to public health and welfare, and possibly even national security, according to an Environmental Protection Agency scientific review released Friday. Continue reading
Apr 17 Global Recession, Drug Violence Top Summit of the Americas Agenda By Admin, PBS News Hour The pressing issues of the global recession, Mexico's drug war and Cuba's conspicuous absence are expected to emerge during the fifth Summit of the Americans, which begins Friday in Trinidad and Tobago. Continue reading
Apr 17 Citigroup Posts Best Earnings Since 2007 By PBS News Hour Beleaguered banking giant Citigroup broke a year-long streak of staggering losses Friday when it posted a first-quarter net profit of $1.6 billion. Continue reading
Apr 16 Watch Foreclosures Rise in New Sign of Housing Market Trouble New government numbers show that home foreclosures increased 24 percent in the first quarter of this year as compared to the first quarter of 2008 as a voluntary foreclosure moratorium ended on March 31. Analysts discuss the data and the… Continue watching
Apr 16 Is Congress to Blame for Failing to Regulate the Financial Sector? Question: On the Newshour a few weeks ago, there was a piece about the bonuses being paid to AIG’s Financial Products Division. In that coverage, one guest mentioned regulators were blocked from overseeing… Continue reading
Apr 16 In Case You Missed It: The Paradox of Thrift Editor’s Note: On last night’s NewsHour, Paul examined the paradox of thrift. Here’s MIT’s Simon Johnson explaining the phenomenon in the segment: SIMON… Continue reading