Dec 17 OPEC Agrees to Record Output Cut to Combat Falling Oil Prices By Admin, PBS News Hour Oil prices fell to their lowest level in four years Wednesday, despite news that the Organization of the Petroleum Exporting Countries agreed to a larger-than-expected oil production cut of 2.2 million barrels per day. Continue reading
Dec 17 Is the Bernard Madoff Financial Fiasco Tied to the Global Economic Meltdown? By Business Desk Question/Comment: How is the Bernard Madoff financial fiasco tied to the global economic meltdown? Is it just a timely coincidence? The thought of a connection somehow seems important. Paul Solman: Let’s see if I can resist the urge to make… Continue reading
Dec 17 SEC Chief Rebukes Own Agency in Madoff Case By Admin, PBS News Hour The Securities and Exchange Commission issued an unusual rebuke of its own regulators Tuesday night over its failure to investigate Wall Street money manager Bernard Madoff, now accused of widespread fraud that bilked investors of billions. Continue reading
Dec 17 In Case You Missed It: Low Consumer Confidence Limits Holiday Spending By Business Desk // ]> // ]]> On Tuesday, Dec. 16, Paul Solman looked at the psychological causes and effects of low consumer confidence through the holiday season. Continue reading
Dec 16 Watch Madoff's Wall Street Schemes Snare Several Prominent Investors The size of the scandal surrounding Wall Street trader Bernard Madoff's alleged fraud continues to unravel, drawing in charities, foundations and top investors. Mort Zuckerman, the head of a charitable trust caught up in the schemes, and an SEC analyst… Continue watching
Dec 16 Watch Restoring Consumer Confidence Proves Tricky Task The Fed's dramatic interest rate cut is an attempt to increase borrowing and spending. While the government tries to tamp down fears that are lowering consumer confidence, Paul Solman examines what it takes to report the economic indicator. Continue watching
Dec 16 Watch Fed Employs Bold Rate Cut to Boost Economic Growth The Fed slashed the target for a key interest rate to a record low of zero percent to a quarter point on Tuesday. Financial analysts examine the possible impact of the Fed's move. Continue watching
Dec 16 Federal Reserve Cuts Key Rate to Record Low By Admin, PBS News Hour The Federal Reserve cut a key interest rate to an all-time low target range of zero to 0.25 percent Tuesday in an effort to fight the deepening recession. Continue reading
Dec 16 How Much Globalization Versus Nationalism/Protectionism is Needed Right Now to Resolve the Economic Crisis? Question/Comment: How much globalization versus nationalism/protectionism is needed right now to resolve the economic crisis? Paul Solman: Interesting. Your question prompts a warning. The Smoot-Hawley Tariff Act of 1930, an attempt to protect American industry only eight months after the… Continue reading
Dec 15 Regarding the Bailing Out of Corporations, What is the Role of Their Board of Directors? Question/Comment: Regarding the bailing out of corporations like the automakers, what is the role of their board of directors? Do these board members not have any fiscal responsibilities for keeping their companies afloat? Non-profit board members have a fiscal responsibility… Continue reading