Jul 28 White House Announces Record Budget Deficit By PBS News Hour Whoever wins the presidency in November will be saddled with a record budget deficit of $482 billion, according to a Bush administration estimate released Monday. Continue reading
Jul 25 Foreclosures More than Double; Uptick Seen in Durable Goods By Admin, PBS News Hour U.S. homeowners lost 220,000 homes to foreclosure in the second quarter, according to a report issued Friday by RealtyTrac, Inc., a marketer of foreclosed homes. Continue reading
Jul 24 Ford Reports $8.7 Billion Second-Quarter Loss By PBS News Hour The Ford Motor Co. on Thursday posted a second-quarter loss of $8.7 billion, due mostly to the declining value of its SUV and pickup truck lines, and announced a plan to overhaul its North American production to focus on small… Continue reading
Jul 23 Watch Wide-reaching Housing Rescue Legislation Moves Forward The House approved Wednesday a hotly-debated housing rescue package aimed at helping strapped homeowners avoid foreclosures after President Bush dropped his opposition to the bill. Experts examine the measure. Continue watching
Jul 23 The Health Care Debate: Eliminate the for-profit middle man and all is solved? By Business Desk Question/Comment: When the NewsHour does segments on health care, I would love for you or any of the staff to ask the health care administrators, economists and especially the politicians why people support a health care system that requires… Continue reading
Jul 23 Why can’t the U.K.’s fuel efficient vehicles be sold in the U.S.? Question/Comment: Car companies such as Ford, GM and Toyota sell cars throughout the world. In examining the U.K. Web sites for these companies, even in cases where the car model is the same as the U.S. Continue reading
Jul 23 President Bush Drops Veto Threat for Housing Bill By PBS News Hour President Bush will sign into law a housing rescue bill hammered out in a compromise among House and Senate leaders, the White House said Wednesday. Continue reading
Jul 22 Wachovia Posts Surprising $8.9 Billion Loss By Admin, PBS News Hour Banking giant Wachovia Corp. reported a nearly $9 billion second-quarter loss Tuesday, surprising Wall Street analysts who had expected a smaller drop. The company plans to cut 6,350 jobs and slash dividends to offset the losses. Continue reading
Jul 22 Is capitalism the best arangement under which greed will do the least harm? By Business Desk Question/Comment: Is this true?: The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system. (Milton Friedman) Paul Solman: Could be. But the… Continue reading
Jul 22 What is the future of home loans? Question/Comment: What do you think is the future of home loans: higher interest for lenders' safety or lower interest to attract borrowers? Paul Solman: You force me to trot out yet again what I once heard the late economist John… Continue reading