Sep 24 Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bailout? Question/Comment: Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bail out? Nobody has spelled this out in detail as far as I know. Can we expect our… Continue reading
Sep 24 With all of the trouble on Wall Street, is it the end of the world as we know it? By Business Desk Paul Solman: As Lehman was melting down on Sept. 14, I wrote the following “answer,” which remains my best effort to explain what’s been going on. We’re going to keep it as the lead item on this page for awhile… Continue reading
Sep 24 Watch Wall Street Woes Ripple Through Local Economies The collapse of financial institutions on Wall Street has sent ripples of fear through local economies across the U.S. Four business journalists from across the nation assess the regional impacts of the financial upheaval. Continue watching
Sep 24 Watch Bailout Plan Dominates Campaign Trail and Capitol Hill Sens. John McCain suggested delaying Friday's presidential debate amid concerns over the nation's financial crisis as lawmakers sought to reach a compromise on a $700 billion government bailout plan. Kwame Holman reports on the latest news from the campaign trail… Continue watching
Sep 24 Buffett Sinks $5 Billion Into Goldman Sachs By Admin, PBS News Hour As debate swirled on Capitol Hill over a proposed financial rescue plan, renowned investor Warren Buffett decided late Tuesday to buy a $5 billion stake in embattled Wall Street Titan Goldman Sachs. Continue reading
Sep 23 Watch Firms’ Soaring Credit Debt Prompted Federal Rescue Unmanageable loans and debt of firms like Lehman Brothers, Fannie Mae, Freddie Mac and AIG led to declines in their credibility and the end of growth based on credit. Paul Solman explains how these giants lost control of their finances… Continue watching
Sep 23 Watch Massive Financial Rescue Faces Skepticism in Congress Fed chief Ben Bernanke and Treasury head Henry Paulson answered questions from skeptical members of Congress Tuesday as they pushed their $700 billion bailout plan. Analysts discuss the details of the proposal. Continue watching
Sep 23 Watch Lawmakers Pose Tough Questions on Bailout Proposal Federal Reserve chief Ben Bernanke and Treasury Secretary Henry Paulson faced tough questions from skeptical members of Congress Tuesday over a $700 billion financial bailout plan. Kwame Holman reports on the hearings and other developments in the financial crisis. Continue watching
Sep 23 Google Barges Into Phone Market with G1 and Open-Source Android Software By PBS News Hour Internet search giant Google on Tuesday unveiled its first foray into the global mobile phone market, introducing the T-Mobile G1, informally known as the "Google phone."… Continue reading
Sep 23 Bernanke and Paulson Urge Congress to Act; Lawmakers Call for More Time By Admin, PBS News Hour Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson urged Congress to pass a $700 billion financial bailout Tuesday, saying the national economy could suffer more if too much time passes. Continue reading