As the debate over the proposed $700 billion bailout of Wall Street continues to rage in Washington, the government took over lending giant Washington Mutual Thursday night in what is by far the largest bank failure in American history.
After Ray Suarez recaps Friday's updates on government efforts to rescue the a financial system teetering on bad mortgage bets, Margaret Warner speaks with a financial columinst and a business reporter about the government's intervention and the impact of the…
Personal finance concerns have jumped across the country as trouble among U.S. financial firms has roiled Wall Street. Columnist Jane Bryant Quinn and economist Diane Swonk discuss the impact of the crisis on everyday Americans.
Poor lending and underwriting caused two more banks in the U.S. to close over the weekend, yet regulators and the Federal Deposit Insurance Corporation, or FDIC, are helping banks remain stable as the economy struggles. Sheila Bair,the chair of FDIC,…
As the nation's housing woes continue, the government announced a plan this week to shore up mortgage-giants Fannie Mae and Freddie Mac. Paul Solman weighs the role of government intervention and the possible ramifications of rewarding risky financial behaviors.
Troubling economic reports and bleak forecasts from the nation's economic policymakers have fueled new concerns over the health of the economy and the stability of the nation's banks. Banking experts offer insight.
Question/Comment: How does the FDIC bailout work? If I have an account in a failing bank, how much money must I have in the account to get the $100,000 bailout? Is it true that…
The government released several new economic reports and Wall Street endured a roller coaster week of trading -- all of which served to underscore recent uncertainty about the state of the U.S. economy. Two finance reporters discuss the reports and…
By PBS NewsHour
Homeland Security Secretary Michael Chertoff tapped Federal Deposit Insurance Corporation Chairman Donald Powell Tuesday to head the federal government's effort to rebuild areas of the Gulf Coast devastated by hurricanes Rita and Katrina.
The Federal Deposit Insurance Corporation filed a $548 million fraud and negligence lawsuit against accounting company Ernst & Young on Friday, stemming from the 2001 collapse of Superior Bank, a savings and loan.
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