Sep 17 Stocks Plunge Despite Fed's $85B Bailout of AIG By Admin, PBS News Hour Even though the U.S. government threw an $85 billion lifeline to troubled insurer American International Group, Inc. Tuesday, U.S. stocks took another beating Wednesday led by plummeting shares of investment banks Morgan Stanley and Goldman Sachs. Continue reading
Sep 15 Watch Wall Street Turmoil Forces Change to Banking Landscape After a frantic weekend on Wall Street, Lehman Brothers filed for bankruptcy and Bank of America moved to buy Merill Lynch -- all of which sent the Dow Jones industrial average plunging on Monday. Reporters from the New York Times… Continue watching
Sep 08 Markets Rise on News of Fannie Mae, Freddie Mac Takeover By Admin, PBS News Hour Global stocks and the dollar jumped Monday on the news that the government seized control of mortgage giants Fannie Mae and Freddie Mac Sunday in a landmark attempt to stabilize the firms and contain the financial crisis caused by the… Continue reading
Jul 14 U.S. Government Takes Steps to Back Struggling Mortgage Giants By PBS News Hour The Treasury Department and Federal Reserve laid out plans Sunday to help bolster lagging confidence in mortgage-finance giants Fannie Mae and Freddie Mac. Continue reading
Jul 10 Fannie Mae, Freddie Mac Stocks Tumble over Bailout Fears By PBS News Hour Shares of government-chartered mortgage giants Fannie Mae and Freddie Mac plunged to their lowest levels since 1991 in Thursday trading over concerns the companies won't be able to raise necessary capital. Continue reading
May 06 Watch Fannie Mae Posts Losses; Mortgage Market Quakes The mortgage giant Fannie Mae posted $2.2 billion in losses Tuesday in its third consecutive quarter of bad news. A reporter from the New York Times explains this latest bad news and its potential impact on the mortgage market. Continue watching
Apr 11 Watch Lawmakers Remain Split Over Help for Homeowners Amid the subprime mortgage crisis and subsequent economic downturn, Republican and Democratic legislators alike have called for the government to do more to aid struggling homeowners. However, the amount and kind of such aid is the subject of fierce debate. Continue watching
Apr 03 Bernanke Defends Fed's Role in Bear Stearns Deal By Admin, PBS News Hour Federal Reserve Chairman Ben Bernanke defended Thursday his agency's decision to assist the ailing investment firm Bear Stearns, calling it a move to prevent a corporate collapse that could have reverberated through the U.S. economy. Continue reading
Apr 02 Watch Senate Leaders Reach Tentative Deal on Housing Relief Momentum grew Wednesday for a Senate bill aimed at easing the slumping housing market and helping families threatened by foreclosure after lawmakers reached a tentative deal on a scaled-back version of the legislation. The architects of the compromise, Senators Chris… Continue watching
Mar 17 Watch Reaction Is Mixed After Fed's Efforts to Boost Economy Amid a slumping economy, the Federal Reserve has resorted to some unusual methods to stave off a recession, most notably its role in coordinating the bailout of lending giant Bear Stearns. Economics experts examine the Fed's action and the state… Continue watching