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
Nov 14 Watch Global Leaders Search for Financial Reforms at G-20 Summit Hoping to rein in the global financial crisis, leaders are convening to hammer out plans to help their ailing markets and economies. Experts assess the challenges they will face in trying to reach meaningful agreements. Continue watching
Nov 14 Watch FDIC Meets Resistance to Homeowner Aid Proposal To prevent 1.5 million U.S. homes from facing foreclosure, the Federal Deposit Insurance Corp. made a proposal Friday for lenders, backed by the government, to modify struggling borrowers' loans. A New York Times reporter discusses the agency's plan plus resistance… Continue watching
Nov 14 Watch Treasury Draws Criticism from Leaders on Capitol Hill During Friday's Congressional hearing about changes to the focus of the $700 billion federal bailout, lawmakers in both parties criticized the latest modifications by Treasury. Judy Woodruff wraps up the latest. Continue watching
Nov 14 G-20 Leadership Information By Admin, PBS News Hour The G-20, which is comprised of leaders and financial officials from industrial and developing countries plus the European Union holds talks on Nov. 15 in Washington's National Building Museum. Following is a look at the group's membership. Continue reading