Economy Nov 02 Watch Taxpayers’ $2.3 Billion ‘Gone’ in CIT Bankruptcy The recession claimed another major financial institution, as lending giant CIT filed for bankruptcy after months of struggling to keep the company, which funds about 1 million small- to medium-sized businesses, afloat.
Politics Sep 21 Watch News Wrap: Deposed Leader Zelaya Returns to Honduras In other news, Manuel Zelaya, the deposed president of Honduras, announced Monday he has returned to the country, and AIG repaid the federal government $60 billion.
Economy Sep 14 Watch A Look Back at the Collapse of Lehman Brothers Lehman Brothers survived the Civil War, the Great Depression, two World Wars, and the attacks of 9/11, yet under the leadership of Richard Fuld the investment bank went from storied Wall Street firm to catalyst of last year's economic crisis.
Economy Jul 16 Watch Paulson Defends Bank of America-Merrill Lynch Deal Former Treasury Secretary Hank Paulson testified Thursday in the third and final House hearing looking into the government's role in the Bank of America purchase of Merrill Lynch. Jim Lehrer discusses the hearings with Binyamin Appelbaum of the Washington Post.
Jul 16 Paulson Rebuts Congress’ Rebuke on Bank Merger By PBS NewsHour Lawmakers grilled former Treasury Secretary Henry Paulson Thursday over the government's role in Bank of America's merger with Merrill Lynch, saying authorities withheld information about losses and intimidated bank executives into sealing the deal. Continue reading
Jun 25 Watch Bernanke Faces New Questions Over Role of the Fed Federal Reserve Chairman Ben Bernanke faced fresh questions from a House committee Thursday over the central bank's role facilitating Bank of America's purchase of Merrill Lynch. Experts discuss the acquisition, as well as the expanding power of the Federal Reserve,… Continue watching
Jun 11 Watch Lawmakers Examine Bank Purchase of Merrill Lynch Officials from the Treasury Department and Federal Reserve pressed Bank of America into purchasing Merrill Lynch last year, the bank's chief executive Ken Lewis told a House committee. Spencer Michels reports on the hearing. Continue watching
Jan 23 Watch Fallout Continues Over Banking Sector Woes, Forced Mergers In the midst of September's Wall Street meltdown, Bank of America agreed to buy the troubled Merrill Lynch -- a buyout that has proved troublesome. Analysts assess what may come next for the struggling industry. Continue watching
Jan 16 Bank of America Posts Big Losses, Citigroup Splits in Two By PBS NewsHour Bank of America posted its first quarterly loss in 17 years and received a boost from the government while Citigroup reported a fourth-quarter loss of $8.29 billion and decided to split up its businesses in a new round of gloomy… Continue reading