Nov 24 Report: 23% of Mortgaged Homes 'Underwater' The number of U.S. homes worth less than the mortgages owed on them reached 10.7 million, or 23 percent of all mortgaged homes, in the third quarter, according to a new report. Continue reading
Nov 17 TARP Watchdog: N.Y. Fed 'Severely Limited' Savings on AIG By Carolyn O'Hara The Federal Reserve Bank of New York ceded much of its negotiating power to AIG's trading partners during the insurance giant's rescue last year, according to a new report from the watchdog for the Troubled Asset Relief Fund. Continue reading
Nov 16 GM to Repay Government Loans Early General Motors announced Monday that it will begin repaying $6.7 billion in government loans before the end of the year and could pay back the full amount as early as next year, five years ahead of schedule. Continue reading
Nov 13 FDIC's Bair on 'Too Big to Fail,' Lessons Learned By Carolyn O'Hara Tonight on the NewsHour, FDIC Director Sheila Bair weighs in on the state of the U.S. banking system. In a Web-exclusive excerpt, Bair speaks bluntly about the need to break up banks that are deemed "too big to fail."… Continue reading
Nov 11 Watch Fed's Regulatory Powers Challenged Under Senate Plan More than a year after the economic crisis hit, legislators continue to work on how to reform financial regulation and stave off a future crisis. The latest proposal comes from Sen. Chris Dodd of the Senate finance committee. Financial experts… Continue watching
Nov 10 Competing Senate, House Financial Reform Bills Differ Over Fed's Role Senate Banking Committee Chairman Chris Dodd, D-Conn., unveiled legislation Tuesday that would dramatically reform how U.S. banks are regulated. The bill differs from legislation moving through the House of Representatives on several key issues. Continue reading
Nov 03 Watch Auto Industry on the Road to Recovery? The auto industry signaled recovery after GM reported a sales gain and Ford announced an unexpected profit. Jeffrey Brown reports. Continue watching
Nov 02 Watch Taxpayers' $2.3 Billion 'Gone' in CIT Bankruptcy The recession claimed another major financial institution, as lending giant CIT filed for bankruptcy after months of struggling to keep the company, which funds about 1 million small- to medium-sized businesses, afloat. Continue watching
Nov 02 CIT Bankruptcy Produces Winners and Losers CIT, a major lender to small U.S. businesses, filed on Sunday for one of the largest Chapter 11 bankruptcy protections in history. Continue reading
Oct 28 Watch Crackdown Targets Banks Deemed 'Too Big to Fail' The head of a key House committee unveiled legislation Wednesday that would grant the federal government sweeping new powers to police giant financial firms. Jim Lehrer talks to two financial analysts about the debate over "too big to fail" institutions. Continue watching