Oct 02 Is this event the Berlin Wall of Free Market Economics? Another email from an old friend: “Is this event the Berlin Wall of Free Market Economics? Or even, as the press backs away from the hotness of the story, the Berlin Wall of Free Market Economics crashing not with a… Continue reading
Oct 02 What would happen if the government gave every American one million dollars so people could pay off all their mortgages and bills? While waiting for more of your emails (they come in via the Online NewsHour in Virginia), I’ve been fielding a few from friends and neighbors. I thought I’d share them, and my answers, this afternoon. First, from my earliest friend:… Continue reading
Oct 02 Reports: High Unemployment, Low Manufacturing By PBS News Hour Stocks dropped early in trading Thursday after the government reported that the number of people seeking unemployment benefits rose to a seven-year high and that orders for manufactured goods dropped by 4 percent in August. Continue reading
Oct 01 Senate Approves Massive Financial Rescue Plan; House May Vote Friday By Admin, PBS News Hour With bipartisan support, the Senate easily approved a massive federal rescue plan aimed at stabilizing the economy and freeing up the crippled credit market Wednesday night. The vote was 74-25. Continue reading
Oct 01 What regulations do you think would possibly fix this situation? And could you assess a few of those who disagree with the need for regulation? Question/Comment: I’m concerned that your viewers are going to come away from this discussion thinking that the market is to blame. The risky investments you refer to at the root of this problem were ones that the government mandated, ones… Continue reading
Oct 01 What would happen if we did nothing to fix the credit crisis? Question/Comment: I just listened to your explanation of the credit crisis on the NewsHour. I’m wondering why I should care. I am a renter, have no savings to speak of, no stocks and work for a small family business with… Continue reading
Oct 01 If many people have a stake in my mortgage, what happens when I make a payment? Question/Comment: I enjoyed the tutorial tonight. What I want to learn is how these mortgage backed securities pay the folks that hold them. They are pieces of many mortgages, so say I am a homeowner with a mortgage and send… Continue reading
Oct 01 Why is a bailout being considered, not massive loans? Question/Comment: Why not loans, instead a “bailout”? Also, why do we have to do this in a week – why not two weeks? Did Paulson make it worse by saying it had to be done this week so that now… Continue reading
Oct 01 What do you think about Allen Meltzer’s views on rescue plan? Question/Comment: How do you feel about Professor Meltzer’s solution? He’s with Mellon Institute, and was interviewed just before your segment. He’s against any government involvement, but if we must, then loan money to companies who wish to borrow and repay… Continue reading
Sep 30 Watch Americans Fear Personal Investments Hit by Credit Crunch A record decline in U.S. markets Monday spread panic to average Americans worried about their investments. Finance writers Jane Bryant Quinn of Newsweek and Brett Arends of the Wall Street Journal assess how the credit crisis will impact personal finances. Continue watching