Apr 16 Watch Goldman Sachs Could Face Sanctions, Fines After SEC Fraud Charge The SEC charged powerful investment bank Goldman Sachs with defrauding investors in the runup to the subprime mortgage crisis. Jim Lehrer talks to a Washington Post reporter about the charges. Continue watching
Nov 13 Madoff’s ‘Prisoner Watch’ Among Items Set for Auction Block A trove of Bernard Madoff's belongings seized by U.S. Marshals from the Ponzi schemer's Manhattan penthouse and New York beach home are to set to go on sale Saturday in a government-run auction for victims of his fraud. Continue reading
Jun 29 Watch Madoff Sentenced to 150 Years in Prison for Ponzi Scheme Disgraced financier Bernard Madoff was sentenced Monday to 150 years in prison after pleading guilty in March to defrauding investors out of as much as $60 billion. Ray Suarez talks to New York Times reporter Diana Henriques about the day… Continue watching
Jun 12 Could the Government Limit the Number of Layoffs a Profitable Company Could Make? By Business Desk Question: Obama and Geithner said they would act aggressively to fix the economy. So, why hasn’t the administration limited the number of employees that profitable companies may lay off? That could help significantly by keeping the unemployment rate down, partially… Continue reading
Jun 10 If China Pulls Away From the Dollar, What Happens to the U.S. Economy? Question: There’s been speculation that China will lessen its ties to the U.S. dollar and U.S. debt. Some countries would also like oil to be priced in something other than dollars. If these events were to happen, what might be… Continue reading
May 12 Who Owns the Credit Card Companies? Question: Who owns the credit card companies? Once upon a time, Bank of America owned Visa, but I’m not sure if it’s been spun off. So, if the stress tests have shown that the banks are not as healthy as… Continue reading
May 01 How Do We Regulate Credit Rating Agencies? Question: How do we supervise and regulate the credit rating agencies which, so poorly and perhaps illegally overrated so many derivatives? Paul Solman: I don’t know. One proposed reform has been that the investors pay the ratings agencies for… Continue reading
Apr 20 How Should We Interpret the String of Positive Earnings Reports from U.S. Banks? Question: After three major banks – Citigroup, JP Morgan, and Goldman Sachs – announced better-than-expected earnings last week, Bank of America announced more than $4 billion in first-quarter profits today. How should we interpret this string of good earnings reports?… Continue reading
Mar 23 The Toxic Asset Plan Explained By Business Desk After the Treasury Department released its plan today to rid banks of so-called “toxic assets” by enticing private investors to partner with the government, Paul Solman answered questions on the basics of the plan. What exactly are… Continue reading
Mar 18 Why Are Pension Funds Investing in Hedge Funds? Question: Why were pension funds allowed to “invest” in a hedge fund? Hedge funds are nothing more than gambling. Paul Solman: Because pension funds are supposedly big enough and therefore sophisticated enough to know what they’re doing and take considered… Continue reading