Feb 25 Former Washington State Gov. Gary Locke Tapped to Be Commerce Secretary By PBS News Hour President Barack Obama announced his nomination of former Washington Gov. Gary Locke to be commerce secretary. Continue reading
Feb 25 Are We Overreacting to Unemployment Numbers? Question/Comment: In the early ’80’s unemployment was over 10 percent. I’m old enough to remember what the economy was like at that time. It wasn’t pretty given interest rates, but on the other hand we weren’t considering massive government funding… Continue reading
Feb 24 Watch As Banking Woes Grow, Debate Over Nationalization Intensifies As turmoil continues in the U.S. banking industry, speculation is intensifying over whether the government should take larger ownership stakes in banks. Columnist Paul Krugman and former FDIC chief William Isaac weigh the pros and cons. Continue watching
Feb 24 Watch Other News: Congress Demands Bank Repayment, Solis Confirmed as Labor Secretary In Tuesday's other news, Congress demanded that Northern Trust bank repay some of the funds it received in federal rescue money after organizing lavish events and the Senate confirmed Hilda Solis as Labor Secretary. Continue watching
Feb 24 Watch Obama Addresses Nation Amid More Grim Economic News President Barack Obama addresses Congress and the nation Tuesday amid new testimony from Federal Reserve Chairman Ben Bernanke on the scope of the recession. Kwame Holman reports. Continue watching
Feb 24 Is There a Connection Between Reducing Taxes and Creating Jobs? By Business Desk Question/Comment: Simple question. President Obama and all members of Congress say the “stimulus bill must contain only monies targeted directly for job creation”. Given that the stimulus bill now has 60 percent allocated for tax reductions, please explain the direct… Continue reading
Feb 24 Consumer Confidence Plunges to Record Low By Admin, PBS News Hour A private research group announced Tuesday that consumer confidence sank to a record low in February. Meanwhile, Federal Reserve Chair Ben Bernanke told Congress the U.S. economy is suffering a "severe contraction."… Continue reading
Feb 23 What Would My Investments Look Like if the Government Nationalized Banks? Question/Comment: I’m retired and considering investing in Citigroup and BAC. However, I keep hearing the word “nationalization.” Would my prospective investment be lost should the Government nationalize Citigroup and… Continue reading
Feb 23 Watch Obama’s Vow to Halve Deficit Puts Focus on Budget Plan President Barack Obama cast a new focus on the budget deficit Monday, announcing a goal of halving the $1.3 trillion gap by the end of his first term. Analysts weigh the goal. Continue watching
Feb 23 Watch Regulators Signal New Moves for Shoring Up Banks Federal regulators vowed Monday to assist struggling banks by increasing the government's ownership stakes while an Obama spokesman said the president supports a private banking system. A financial reporter discusses the deepening crisis amid large market losses. Continue watching