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By Dave Gustafson
Question: Can the government loan the FDIC money (which banks will pay back through the FDIC) to take over Citibank and Bank of America, et al., pay off…
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…
By Business Desk
As turmoil continues in the U.S. banking industry, speculation is intensifying over whether the government should take larger ownership stakes in banks. Columnist Paul Krugman and former FDIC chief William Isaac weigh the pros and cons.
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…
By PBS NewsHour
U.S. stocks plunged again Thursday to a five-year low as hopes dimmed that lawmakers could quickly put together an aid package for U.S. automakers.
Banking giant Citigroup Inc. announced Monday that it plans to trim approximately 50,000 more jobs as it struggles to steady itself after suffering massive losses from deteriorating debt.
U.S. homeowners have been among the hardest-hit by the global economic meltdown. In the first of a series, analysts discuss the benefits and flaws of governmental and lender recovery plans, including Citibank's offer to modify loan terms for those falling…
Wachovia Corp. changed course on a buyout deal Friday, agreeing to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, reversing an earlier agreement to be acquired by Citigroup.
By Admin, PBS NewsHour
In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp.
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