Continuing concerns over the depth and breadth of the economic meltdown rippled through world markets Friday, pushing U.S. stocks to extend deep losses and sending overseas markets tumbling.
Question/Comment: How is the Bernard Madoff financial fiasco tied to the global economic meltdown? Is it just a timely coincidence? The thought of a connection somehow seems important. Paul Solman: Let’s see if I can resist the urge to make…
Question/Comment: My conservative friends are convinced that this economic mess is the result of changes to Fannie and Freddie’s lending policies forced on them by the Democrats. My own theory identifies our chronic balance of payments as the chief culprit.
Question/Comment: If banks do not have money to lend, how can Citicorp, Wells Fargo, etc. come up with billions to purchase failing banks and finance firms? Paul Solman: They aren’t forking over any cash. “Purchase” means subsume. Wachovia becomes part…
By Admin and PBS NewsHour
Investment bank Lehman Brothers announced plans Wednesday to sell a majority stake in its investment management business as the company struggles to stay afloat after reporting a record quarterly loss of about $4 billion.
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