Jul 14 Watch Citigroup to pay $7 billion for ‘egregious misconduct’ leading up to financial crisis By PBS News Hour The Justice Department announced a $7 billion settlement with Citigroup over “egregious misconduct” related to mortgage securities in the lead-up to the financial crisis. Judy Woodruff gets details from Tony West, associate attorney general at the Department of Justice and… Continue watching
Jul 14 How Social Security should guide when you marry a younger partner By Laurence Kotlikoff When there's an age difference between partners, and one is eligible for Social Security long before the other, when should the couple tie the knot? Social Security expert Larry Kotlikoff advises one man how to maximize his own benefits and… Continue reading
Jul 14 The Dow may be above 17,000, but not for long By Terry Burnham A year after economist Terry Burnham predicted the Dow Jones Industrial Average would hit 5,000 before 20,000, it closed above 17,000 Monday. But Burnham is sticking by his call, introducing a scorecard to track the macroeconomic policies underlying the impending… Continue reading
Jul 14 Swiss Lindt buys Russell Stover By Jordan Vesey Swiss chocolate giant Lindt & Spruengli agreed on a billion-dollar deal to buy U.S. candy maker Russell Stover. The partnership makes Lindt the third largest chocolate maker in North America behind Hershey and Mars, owning 7.9 percent of the market. Continue reading
Jul 14 Is giving money to poor countries doing more harm than good? By Gregory Clark In designing aid, there's a natural tendency to address immediate needs, economic historian Gregory Clark tells Paul Solman in the fifth and final part of their conversation about his 2007 book, "A Farewell to Alms." But without economic growth first,… Continue reading
Jul 11 2014 budget deficit to drop to $583 billion, White House says By Andrew Taylor, Associated Press WASHINGTON — The White House says this year's budget deficit will drop to $583 billion, the lowest level of President Barack Obama's tenure. Continue reading
Jul 11 A genetic explanation of economic success By Gregory Clark There’s nothing to rule out the possibility that the economically successful of the modern world are actually genetically different from the people who are not successful, economic historian Gregory Clark tells Paul Solman in part four of their never-before published… Continue reading
Jul 10 U.S. teens rank between Latvia and Russia on financial literacy, far below Shanghai By Simone Pathe American teens may work summer jobs and manage money on their smartphones, but their financial literacy places them between Latvia and Russia, and far below 15-year-olds in Shanghai, who achieved the highest average score on the largest youth financial literacy… Continue reading
Jul 10 The key to England’s economic growth: The rich outlived the poor By Gregory Clark England's economic success, beginning with the takeoff of the Industrial Revolution, can be explained by the "survival of the richest," argues economic historian Gregory Clark in the third installment of his never-before published interview with Paul Solman about his 2007… Continue reading
Jul 09 How learning to pass the marshmallow test explains global economic evolution By Gregory Clark Why did the Industrial Revolution happen in England, setting them economically apart from the rest of the world? Contrary to popular economic theory, economic historian Gregory Clark says the existence of market and political institutions had nothing to do with… Continue reading