Oct 28 Bill: Biggest Firms Would Fund Future Rescues By Dave Gustafson The U.S. government would be given broad new powers to shrink financial firms deemed "too big to fail" and shift the cost of rescuing troubled companies from taxpayers to other large firms, according to draft legislation released Tuesday. Continue reading
Oct 22 Pay Slashed for Bailed-out Firms’ Executives The government has ordered seven firms that received billions in bailout money to dramatically cut compensation to their highest-paid employees. Continue reading
Oct 14 Watch Wall Street Set for Record Payouts a Year After Crash Despite heightened scrutiny from both the public and regulators in the wake of the AIG bonus scandal, compensation on Wall Street is set for a record year in 2009. Jeffrey Brown reports. Continue watching
Sep 21 Watch News Wrap: Deposed Leader Zelaya Returns to Honduras In other news, Manuel Zelaya, the deposed president of Honduras, announced Monday he has returned to the country, and AIG repaid the federal government $60 billion. Continue watching
Sep 16 A Year After Bailout, Uncertain Future for AIG A year after the U.S. government came to the rescue of insurance giant American International Group (AIG), the company has a new CEO and its share price is up. Yet the company's future remains uncertain. Continue reading
Sep 14 A Year After Lehman: Lessons Learned Editor’s note: All this week on the Business Desk, we’ll be featuring contributions from economists, financial journalists, and other experts on the origins and impact of the financial crisis. Today, nearly a year after the collapse of Lehman Brothers… Continue reading
Sep 14 Obama Urges Sweeping Overhaul of Financial Regulation By Carolyn O'Hara A year after the collapse of Lehman Brothers set off one of the toughest weeks in Wall Street's history, President Barack Obama delivered a speech Monday outlining "the most ambitious overhaul of the financial system since the Great Depression."… Continue reading
Sep 14 Reporting the Crisis By Business Desk Paul Solman: This week marks the anniversary of the collapse of Lehman Brothers and one of the most extraordinarily tumultuous weeks Wall Street has ever had. So, in reflecting on those events and the subsequent year, I thought I’d offer… Continue reading
Aug 21 Bernanke: U.S. Economy Poised for Recovery By Carolyn O'Hara Federal Reserve Chairman Ben Bernanke offered an optimistic assessment of the U.S. economy's chances for recovery Friday in a much-anticipated speech to fellow central bankers and top economists. Continue reading
Aug 07 Is the “Perfect Storm” Metaphor Appropriate for the Economic Crisis? “The metaphor of the perfect storm is inapt. The captain’s action does not influence the height of the waves. Fed Chairman Bernanke, in contrast, participated in making and implementing interventions that worsened the financial crisis last year.” – from… Continue reading