Nov 18 Bernanke, Paulson Defend New Bailout Strategy By Admin, PBS News Hour One week after the Bush administration changed the focus of the $700 billion rescue plan for Wall Street, Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson defended the new strategy Tuesday when they testified before House members. Continue reading
Nov 14 FDIC: Plan Could Avert 1.5 Million Foreclosures By Admin, PBS News Hour About 1.5 million American households could stave off foreclosures under a revised loan-guarantee program unveiled Friday, the Federal Deposit Insurance Corp. said. Continue reading
Mar 20 Watch On the Campaign Trail, Candidates Shape Foreign, Domestic Policies Democratic presidential candidates Sens. Hillary Clinton and Barack Obama spent Thursday on the campaign trail outlining their plans to boost the economy, while presumptive GOP nominee Sen. John McCain met with British Prime Minister Gordon Brown in London. Continue watching
Feb 28 Watch Congress Divided on Economic Relief, Housing Measures President Bush played down the possibility of recession Thursday, while Fed Chairman Ben Bernanke explained to Congress the difficulties of balancing rising inflation with a slowing economy. Two senators debate proposals to aid the economy, including a supplemental stimulus package… Continue watching
Feb 26 Consumer Confidence Drop Among Economic Woes By Admin, PBS News Hour Consumer confidence and home prices plunged while wholesale inflation and home foreclosures jumped, a swath of new negative U.S. economic reports showed Tuesday. Continue reading
Nov 29 White House Lowers Economic Outlook for 2008 By Admin, PBS News Hour U.S. economic news hit a downbeat note Thursday as the White House lowered its outlook for 2008 and a mortgage research company announced that last month's foreclosure filings nearly doubled those in October 2006. Continue reading
Oct 24 Watch Chicago Bank Takes Action Against Subprime Housing Crunch Chicago's ShoreBank has implemented a "rescue loan program" to help customers refinance home mortgages that may be in danger of default. A consumer advocate and a mortgage industry representative weigh in on how to best respond to the country's subprime… Continue watching
Oct 16 Watch Housing, Credit Crunch, Oil Prices Spur Economic Jitters Treasury Secretary Henry Paulson delivered a somber assessment of the U.S. economy Tuesday, calling the housing and credit crunch "the most significant current risk" to the economy. Financial experts look at the factors affecting the nation's economic health, including sky-high… Continue watching