Nov 18 How is the Economy Affecting Your Pocketbook? Paul Solman: In the spirit of turnabout being fair play, I’ve got questions for YOU. All of you. They’re for a TV story I’m doing. As an exclusive bonus for zealous Business Desk readers,… Continue reading
Nov 18 Bernanke, Paulson Defend New Bailout Strategy By Admin, PBS News Hour One week after the Bush administration changed the focus of the $700 billion rescue plan for Wall Street, Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson defended the new strategy Tuesday when they testified before House members. Continue reading
Nov 17 Watch Indian Farmers, Coca-Cola Vie for Scarce Water Supply In the Indian state of Rajasthsan, farmers have accused Coca-Cola factories of drawing too heavily on the area's water supplies and contributing to pollution. Fred de Sam Lazaro reports on the controversy and the claims of both the company and… Continue watching
Nov 17 Watch Financial Crisis Shows Global Reach in Sluggish British Economy On the heels of this weekend's G-20 summit of world leaders to assess the economic crisis, Margaret Warner reports from London on how the financial turmoil has impacted Great Britain -- where the upheaval has hit especially hard. Continue watching
Nov 17 Watch Citigroup to Cut Jobs, Sell Assets in Financial Crunch Citigroup announced plans Monday to cut 53,000 jobs worldwide as a result of the worsening global fiscal crisis and large company losses. Roben Farzad of Business Week assesses the financial institution's troubles and how other banks are faring. Continue watching
Nov 17 An Election Economics Post-Mortem By Business Desk Paul Solman: Here’s an email I received from Yale economist Ray Fair, whose presidential prediction model we featured on the site a few weeks ago: Ray Fair: The vote equation did well in predicting the 2008 election. The following… Continue reading
Nov 17 When the Government Issues New Treasury Debt and Puts it into the Banking System, Does That Mean More Dollars in the World, and Thus Inflation? Paul Solman: Several weeks ago, former Fed Chairman and economic boom cheerleader Alan Greenspan said this before Congress: “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state… Continue reading
Nov 17 Citigroup Plans to Slash Another 50,000 Jobs By PBS News Hour Banking giant Citigroup Inc. announced Monday that it plans to trim approximately 50,000 more jobs as it struggles to steady itself after suffering massive losses from deteriorating debt. Continue reading
Nov 17 Congress Set to Debate U.S. Auto Industry Bailout By Admin, PBS News Hour Congress returns to Washington Monday to convene a lame-duck session with the struggling auto industry as its first priority. Democrats want to use part of the $700 billion Wall Street bailout for emergency loans to help the Big Three carmakers. Continue reading
Nov 15 G-20 Leaders Outline Joint Efforts to Avoid Future Economic Crises By PBS News Hour As the G-20 economic summit drew to a close Saturday, President Bush and the leaders of nearly two dozen countries agreed to flag risky investing and regulatory loopholes in the hopes of preventing future financial meltdowns. Continue reading