May 07 Watch Government ‘Stress Tests’ Find Big Banks Need $75 Billion The U.S. Treasury released stress tests of 19 major banks, finding that they collectively need another $75 billion by November. A financial reporter explains the results. Continue watching
May 07 ‘Stress Tests’ Find 10 Big Banks Need $75 Billion By Admin, PBS News Hour The Obama administration's much-anticipated "stress-test" results found that 10 of the nation's 19 biggest banks need a total of about $75 billion in new capital to withstand losses if the recession worsens. Continue reading
May 05 Fed Chair: Economy Should Grow Later in 2009 By Admin, PBS News Hour Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday that the economy should pull out of a recession and start growing again later this year. Continue reading
Apr 20 Watch Banking Industry’s Uncertain Future Puts Investors on Edge Stocks tumbled Monday on skepticism over financial sector earnings, despite a better-than-expected earnings report from Bank of America. A reporter updates the state of the banking sector. Continue watching
Mar 05 What Would Happen if Washington Let Big Banks Fail? By Business Desk Question: What would happen if the government let Citibank and Bank of America, et al., just fail? Paul Solman: The possibilities are various, intriguing, and terrifying. Let’s say Citi goes under. The government has to honor all of the company’s… Continue reading
Jan 23 Watch Fallout Continues Over Banking Sector Woes, Forced Mergers In the midst of September's Wall Street meltdown, Bank of America agreed to buy the troubled Merrill Lynch -- a buyout that has proved troublesome. Analysts assess what may come next for the struggling industry. Continue watching
Jan 22 Watch Congress Moves on Stimulus Package, Kennedy Withdraws From N.Y. Senate Race Caroline Kennedy withdrew her name from consideration for New York's Senate seat and the House made plans to vote on a proposed stimulus package next week. Jim Lehrer reports on these developments and other news of the day. Continue watching
Jan 16 Bank of America Posts Big Losses, Citigroup Splits in Two By PBS News Hour Bank of America posted its first quarterly loss in 17 years and received a boost from the government while Citigroup reported a fourth-quarter loss of $8.29 billion and decided to split up its businesses in a new round of gloomy… Continue reading
Jan 14 Retail Sales Sag 2.7% in December; Stocks Drop By PBS News Hour Retail sales dropped more than expected in December -- a sixth straight monthly slide -- as consumers took heed of an economy pummeled by a recession, credit squeeze and continuing job losses. Continue reading
Sep 29 In Latest Shake-Up, Citigroup to Acquire Wachovia By Admin, PBS News Hour In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp. Continue reading