Question/Comment: I am a traditional liberal democrat who is in favor of a large stimulus package that focuses on job creation and helping out states. I can not understand the need for further bank bailouts. I do not understand the…
Editor’s Note: Paul recently answered “Five Good Questions” on the economy for the PBS Engage blog. You will also be able to find those answers here on the Business Desk all week. Question/Comment:…
By PBS NewsHour
Treasury Secretary Timothy Geithner announced Tuesday a strategy to overhaul the widely criticized bank bailout fund that is aimed at unclogging credit markets that provide loans to consumers and businesses.
President Barack Obama gave a prime-time press conference Monday to make his case to the public for an economic stimulus plan and to respond to other policy issues. Following is the text of Mr. Obama's prepared statement and the full…
Paul Solman explores a solution to the financial crisis that’s gaining steam: creating “bad banks” and “good banks.” ]>…
Question/Comment: Given that U.S. banks appear to need cash to stabilize themselves and begin extending credit, would it not make economic sense for homeowners with mortgages to pay off the balance of their loans as soon as possible if not…
By Admin, PBS NewsHour
President Barack Obama and Treasury Secretary Timothy Geithner announced Wednesday a pay cap of $500,000 for top executives at companies that receive federal dollars under the Troubled Asset Relief Program for struggling banks and corporations.
Paul Solman: Several weeks ago, former Fed Chairman and economic boom cheerleader Alan Greenspan said this before Congress: “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state…
New data show that consumer spending fell 3.1 percent in the third quarter, its sharpest drop in 28 years. New York Times columnist David Leonhardt examines the latest numbers.
Question/Comment: Is it correct to assume that the credit crisis is mostly psychological? Banks hold bad paper which needs to be exposed and somehow that debt needs to be paid or securitized again, so that banks regain confidence in other…
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