Jul 14 U.S. Government Takes Steps to Back Struggling Mortgage Giants By PBS News Hour The Treasury Department and Federal Reserve laid out plans Sunday to help bolster lagging confidence in mortgage-finance giants Fannie Mae and Freddie Mac. Continue reading
Jul 08 Watch Fed Ready to Strengthen Regulations Tied to Lending Practices Federal Reserve Chief Ben Bernanke outlined new rules Monday that are intended to protect homebuyers from risky lending practices blamed for a nationwide housing crisis. Wall Street Journal editor David Wessel examines the move. Continue watching
Jun 06 Unemployment Rate Jumps to 5.5% in May By Admin, PBS News Hour The nation's unemployment rate hit 5.5 percent in May as employers cut 49,000 jobs, providing a fresh snapshot of a still-struggling U.S. economy. Employers have now cut payrolls for five straight months. Continue reading
May 29 How does the U.S. "export" its inflation to other countries? Question/Comment: How does the U.S. “export” its inflation to other countries? And a second question: Frequently pundits say the U.S. can and does print money to achieve some economic or financial goal. However, my economics professor says the government does… Continue reading
May 08 Watch Legislative Bid to Buoy Slumping U.S. Housing Sector Meets Debate Amid a continuing U.S. economic downturn, Capitol Hill lawmakers have been debating how to effectively provide relief for the housing crisis. Two members of Congress discuss their positions on the housing bill and how to best revive a slumping housing… Continue watching
May 02 Watch New Federal Rules Target Deceptive Credit Card Practices The Federal Reserve proposed new credit card regulations Friday in response to growing rancor over credit practices that are widely regarded as unfair and deceptive. Robin Farzad of BusinessWeek Magazine explains the details and possible effects. Continue watching
May 02 Labor Dept. Report Shows Fewer Jobs Lost in April By Admin, PBS News Hour Employers cut fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, the Labor Department announced Friday. Continue reading
Apr 30 Watch Fed Cuts Rate Again in Latest Bid to Shore Up Economy The Federal Reserve cut a key interest rate by a quarter point Wednesday, bringing the federal funds rate down to its lowest level since late 2004. The move is intended to help address the ongoing housing slump and credit crunch. Continue watching
Apr 25 Doesn't Bear Sterns hiding of their problems while continuing to sell mortgage-backed securities as if all was well constitute fraud? Question/Comment: Bear Sterns did not go under overnight. Unless they are incompetent, the executives must have known what was happening for at least a year, maybe longer. So how come they took hundreds of millions in salary and bonuses (maybe… Continue reading
Apr 04 U.S. Economy Lost 80,000 Jobs in March By Admin, PBS News Hour U.S. employers cut 80,000 jobs in March, the most in five years and the third straight month of losses, according to new Labor Department figures released Friday. Continue reading