Oct 03 Watch Sweeping $700 Billion Financial Rescue Wins Final Approval The U.S. economy faced fresh troubles Friday as President Bush signed a $700 billion bailout bill. Analysts weigh the economic picture and Paul Solman recaps week's events. Continue watching
Sep 26 Fed Takes Over WaMu in Largest Bank Failure in American History By PBS News Hour As the debate over the proposed $700 billion bailout of Wall Street continues to rage in Washington, the government took over lending giant Washington Mutual Thursday night in what is by far the largest bank failure in American history. Continue reading
Sep 23 Watch Firms’ Soaring Credit Debt Prompted Federal Rescue Unmanageable loans and debt of firms like Lehman Brothers, Fannie Mae, Freddie Mac and AIG led to declines in their credibility and the end of growth based on credit. Paul Solman explains how these giants lost control of their finances… Continue watching
Jul 08 Bernanke to Propose Stricter Mortgage Regulation By PBS News Hour Federal Reserve Chairman Ben Bernanke outlined a new set of mortgage-lending rules Tuesday, which will be aimed at shielding future homebuyers from risky lending practices and avoiding a repeat of the country's current mortgage crisis. Continue reading
Mar 04 Do you think that overproduction or declining profit rates have contributed to the present subprime loan crisis? Question/Comment: Karl Marx, in his work “Capital,” alluded to the idea that overproduction contributed to a general historical tendency of capitalism to be undermined by declining returns on capital. Do you think that overproduction or declining profit rates have contributed… Continue reading
Feb 14 If I hear one more presidential (or candidate) speech about the imperative to rescue those poor subprime home owners, I will scream. Question/Comment: Paul, If I hear one more presidential (or candidate) speech about the imperative to rescue those poor subprime home owners, I will scream. Not one economist, not one candidate, no one ever addresses the painfully unregulated and rogue rental… Continue reading
Feb 12 Watch Lenders Sign-on for Plan to Help Prevent Home Foreclosures The Bush Administration and six of the nation's largest banks agreed on a plan Tuesday that would delay some home foreclosures by 30 days, allowing lenders to negotiate more affordable terms. Treasury Secretary Henry Paulson discusses the details of the… Continue watching
Dec 04 Watch Basics of U.S. Economy Are Strong, Bush Says President Bush tried to quell concerns over the recent housing slump and credit crunch Tuesday, saying "The basics in the economy are good." Two former treasury secretaries examine the state of the economy and whether the U.S. is facing a… Continue watching