Two years after Lehman Brothers collapsed, central bankers from 27 countries agreed to new rules that include substantially raising the amount of capital that banks must hold in reserve in hopes of preventing another global financial crisis.
The CEO of General Motors, Frederick "Fritz" Henderson, has resigned, the automaker announced Tuesday. He has been replaced on a temporary basis by Ed Whitacre, chairman of the board of the troubled automaker.
By Online DA
In a surprise reversal that has left politicians across Germany fuming, General Motors' board has voted to abandon a deal to sell its European operations to car-parts supplier Magna International Inc. and Russian bank Sberbank.
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.
By Business Desk
Editor’s note: Paul also recently sat down with Harvey Miller, lawyer for Lehman Brothers during its descent into bankruptcy, for an insider’s look at what it was like meeting with government regulators as Lehman faced collapsed.
Editor’s note: Last night on the NewsHour, Paul filed a compelling report on the fall of Lehman Brothers one year after the firm’s descent into bankruptcy. He traces Lehman’s fall from storied Wall Street investment bank to catalyst for the…
Paul Solman: The fourth in this week’s series of conversations with economist Simon Johnson concerns the future of the suffering American auto industry. Johnson weighs in on whether the new GM will make it and responds to the…
After the announcement that General Motors Corp. had completed its 40-day stay under bankruptcy protection, CEO Fritz Henderson speaks to Judy Woodruff about the company's goals for remaking the struggling auto maker.
By PBS NewsHour
A New York judge has approved General Motors Corp.'s bankruptcy sale in a move that will allow the company's most-profitable assets to quickly emerge from bankruptcy protection under government ownership.
Italian automaker Fiat became the new owner of most of Chrysler's assets Wednesday, in a move that largely ends the U.S. company's bankruptcy process and staves off concerns about liquidating the company.
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