Sep 17 Watch Government’s Rescue of AIG Fails to Calm Nervous Investors The government's bailout of AIG failed to boost stock markets Wednesday, with the Dow dropping more than 400 points. Economic analysts examine the government's decision to aid the insurer and the state of financial woes. Continue watching
Sep 17 Stocks Plunge Despite Fed’s $85B Bailout of AIG By Admin, PBS News Hour Even though the U.S. government threw an $85 billion lifeline to troubled insurer American International Group, Inc. Tuesday, U.S. stocks took another beating Wednesday led by plummeting shares of investment banks Morgan Stanley and Goldman Sachs. Continue reading
Sep 17 Last year Lehman Brothers’ CEO made $71 million. Now his company has collapsed. How much will he make this year? Question/Comment: Last year Lehman Brothers’ CEO Richard Fuld, Jr. made $71 million. Today his company collapsed. How much will he make this year? Paul Solman: I don’t know about this year. You’ve covered last. Continue reading
Sep 16 Watch Fed Aims to Stabilize Markets as Jittery Investors Watch AIG With the financial industry still reeling from Monday's collapse of key institutions, the Federal Reserve pumped another $70 billion into the teetering system Tuesday. Two business journalists discuss the Fed's relief efforts. Continue watching
Sep 16 Fed Rejects Rate Cut, Global Markets Retreat amid Wall Street Turmoil By Admin, PBS News Hour The Federal Reserve Tuesday announced it will not lower a key interest rate below 2 percent despite Wall Street's major troubles and a drop in global markets. Continue reading
Sep 15 Watch Uncertainty Hits Wall Street After Lehman, Merrill Meltdown The demise of Lehman Brothers, Merrill Lynch's $50 billion buyout and concerns about AIG caused a Wall Street panic Monday. Economic analysts give insight on the causes and implications of the financial crisis. Continue watching
Sep 15 Watch Wall Street Turmoil Forces Change to Banking Landscape After a frantic weekend on Wall Street, Lehman Brothers filed for bankruptcy and Bank of America moved to buy Merill Lynch -- all of which sent the Dow Jones industrial average plunging on Monday. Reporters from the New York Times… Continue watching
Sep 15 Lehman Brothers Files for Bankruptcy, Merrill Lynch Sells to Bank of America By Admin, PBS News Hour After a frantic weekend that shook Wall Street to the core, Lehman Brothers filed for bankruptcy Monday under the weight of $60 billion in bad real estate holdings and Bank of America moved to buy Merrill Lynch in a $50… Continue reading
Sep 10 Lehman Plans Asset Sale to Boost Investor Confidence By Admin, PBS News Hour 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. Continue reading
Jun 16 Watch Lehman Reports $3 Billion in Losses Due to Bad Mortgage Investments Lehman Brothers chief Richard Fuld took responsibility Monday for a staggering $3 billion in losses in the second quarter, saying the company was too slow to react to the unfolding credit and mortgage crisis. Roben Farzad of BusinessWeek magazine outlines… Continue watching