Sep 19 Watch Wall Street Turmoil Marks Wholesale Shift in Banking Sector After a week on Wall Street that saw stalwart financial firms fall and unprecedented levels of government intervention, NewsHour economics correspondent Paul Solman and market historian Richard Sylla offer perspective on the events. Continue watching
Sep 19 Watch Government Eyes Sweeping Wall Street Rescue Plan After Ray Suarez recaps Friday's updates on government efforts to rescue the a financial system teetering on bad mortgage bets, Margaret Warner speaks with a financial columinst and a business reporter about the government's intervention and the impact of the… Continue watching
Sep 19 Does the current financial meltdown prove that our economy is based more on just smoke and mirrors and not on true productivity? Question/Comment: Paul: Does the current financial meltdown prove that our economy is based more on just smoke and mirrors (risky investments) and not on true productivity (ie. goods and services)? And what will be necessary for our economy to truly… Continue reading
Sep 19 Could you explain what a derivative is and how this is part of the Wall Street problem? Question/Comment: On the NewsHour tonight, the speaker stated that some the problem with the fall of Wall Street is related to use of derivatives and lack of regulation of this. Could you explain further what a derivative is and how… Continue reading
Sep 19 What is the source of the money for rescuing large financial firms? Question/Comment: Thank you for your simplified, insightful, and humorous segments on the NewsHour explaining economic complexities. My question: With the federal government $9.5 trillion in debt, this year’s budget deficit projected at $410 billion, and tax revenues insufficient over the… Continue reading
Sep 19 Are our problems limited to the corrupt actions of individual investment firms? Or does this crisis go deeper? Question/Comment: You explain the investment aspect of this crisis very well. I’d like to know more about how the market’s collapse reflects the structural problems of the U.S. economy. Are our problems limited to the corrupt actions of individual investment… Continue reading
Sep 19 Is it possible, as a worst case scenario, for the Feds to close the banks as FDR did in the 1930’s? By Business Desk Question/Comment: I hope you will not think me too crazy for asking this question. Is it possible as a worst case scenario for the Feds to close the banks as FDR did in the… Continue reading
Sep 19 Can the recent market fallout be traced back to Reagan’s deregulation of these types of institutions? By Business Desk Question/Comment: Can the recent market fallout be traced back to Reagan’s deregulation of these types of institutions? Is it also a reflection of a Republican/Bush White house that has purposely discouraged regulators from doing their jobs? Paul Solman:“Deregulation” as a… Continue reading
Sep 19 What if the brokerage firm that handles my IRA fails? Question/Comment: Everyone seems to be concerned about the financial institutions failing. I have three questions: If institutions such as Fanny Mae, Freddie Mac, AIG fail and others fail or taken over by the government,… Continue reading
Sep 19 Fed, Congress, President Review Plans to Aid Flailing Financial Markets By PBS News Hour President Bush and Treasury Secretary Henry Paulson pushed Congress Friday to cooperate with a plan to rescue the country's markets by authorizing the government to purchase failing mortgages at highly discounted rates. Continue reading