Apr 02 Economy on Brink of Recession, Bernanke Warns By Admin, PBS News Hour Federal Reserve Chairman Ben Bernanke warned Congress Wednesday that the U.S. economy may continue to shrink -- signaling the possible start of a recession -- in his first testimony since the Fed approved the bailout of investment firm Bear Stearns. Continue reading
Apr 01 Will JPMorgan Chase have to assume all of Bear Stearns’ debt? Question/Comment: Will JPMorgan Chase have to assume all of Bear Stearns’ debt? Paul Solman: Nope. The Fed covers the first $30 billion dollars of Bear Stearns losses — $30… Continue reading
Apr 01 I’ve heard the Federal Reserve is not actually federal and has no reserves, it’s a private banking cartel that looks out for the interests of Wall Street, not most Americans. This installment’s “guest vetter” is Larry Koltikoff with Boston University. He is perhaps the best-known American economist on the issue of intergenerational conflict over entitlement spending on programs like Social Security and Medicare. You can check out his full bio… Continue reading
Mar 31 Watch Broad New Oversights Pitched for Ailing Financial Systems In the wake of the subprime mortgage crash and the bailout of a prominent U.S. investment firm, Treasury Secretary Henry Paulson on Monday outlined an administration proposal for increasing the regulation of financial institutions and markets. A Treasury official and… Continue watching
Mar 28 Phone, Satellite Companies to Redevelop Airwaves for New Wireless Products By Admin, PBS News Hour Last week, the Federal Communications Commission finished auctioning off $19 billion worth of public airwaves after a federally mandated switch to digital television freed up large sections of the nation's wireless "spectrum."… Continue reading
Mar 28 Treasury Calls for Sweeping Oversight Changes By PBS News Hour The Bush administration unveiled the most sweeping plan to overhaul the U.S. financial regulatory system since the Great Depression on Monday, but admitted that the next president's administration will need to hammer out many details with Congress. Continue reading
Mar 27 Economy’s Growth Nearly Halted By End of 2007 By Admin, PBS News Hour New numbers released by the government Thursday highlighted the continued weak performance of the national economy, with the Commerce Department reporting an anemic 0.6 percent increase in the gross domestic product in the final three months of 2007. Continue reading
Mar 26 Watch Paulson Urges Oversight in Wake of Bear Stearns Bailout Treasury Secretary Henry Paulson said Wednesday that investment banks may require the same government oversight that commercial banks face if they will borrow federal money. Economic analysts weigh the pros and cons of increased federal regulation. Continue watching
Mar 26 Iraq Leader Gives Basra Gunmen Ultimatum By PBS News Hour As fighting continued between Iraqi security forces and Shiite militia fighters in the oil-rich port city of Basra, Prime Minister Nouri al-Maliki gave an ultimatum Wednesday for gunmen to lay down their arms and forsake violence by week's end. Continue reading
Mar 25 Watch Housing Crisis Draws Attention from Candidates Presumptie GOP nominee Sen. John McCain warned Tuesday against hasty government involvement in the U.S. mortgage crisis, while both Democratic candidates have called for increased regulation of lenders. An analysts considers the state of the housing market. Continue watching