Mar 03 Bernanke Defends AIG Rescue, Urges Quick Moves on Economy By Admin, PBS News Hour Federal Reserve Chairman Ben Bernanke advised moving "aggressively" to ease the economic crisis during testimony to lawmakers Tuesday while defending the government's latest moves to prop up troubled insurance giant American International Group. Continue reading
Feb 24 Consumer Confidence Plunges to Record Low By Admin, PBS News Hour A private research group announced Tuesday that consumer confidence sank to a record low in February. Meanwhile, Federal Reserve Chair Ben Bernanke told Congress the U.S. economy is suffering a "severe contraction."… Continue reading
Feb 18 Watch Obama Unveils Plan to Curb Home Foreclosures President Barack Obama unveiled a $75 billion plan to ease the mortgage crisis that helped trigger the country's economic crisis. Kwame Holman reports on the president's announcement and other economic news of the day. Continue watching
Feb 10 Watch Geithner Revamps Bank Rescue Plan The Treasury Department outlined an overhaul of the financial rescue plan Tuesday as the stimulus bill moved forward. Economists and analysts react to the developments. Continue watching
Feb 10 New Bank Rescue Plan Aimed at Easing Credit By PBS News Hour 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. Continue reading
Feb 03 How Much of My Investments Should Be in Gold? Question/Comment: How much of my investments should be in gold? Paul Solman: Unfortunately, I can’t possibly give you an answer to your question, except to say that none of my investments are in gold (or ever have been). Thus,… Continue reading
Jan 28 Watch Fed Vows to Use ‘All Available Tools’ to Prop Up Economy The Fed has been extraordinarily active in recent months, and there are some calls now to expand its future role as a financial regulator. Analysts examine the Fed's evolving role. Continue watching
Jan 28 Fed Leaves Key Rate at Record Low, Vows to Use All Tools to Help Economy By PBS News Hour Acknowledging that the economy has continued to deteriorate, the Federal Reserve signaled Wednesday that it will continue to use unconventional tools to cushion the fallout, including keeping a key interest rate at a record low for quite "some time."… Continue reading
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
Dec 18 Are Banks Really Making Short Term Loans to Other Banks for Zero Interest? Question/Comment: When people speak of the Fed funds rate being zero, does that mean that banks are literally making short-term loans to other banks for NO INTEREST WHATSOEVER?… Continue reading