Question: What would happen if the government let Citibank and Bank of America, et al., just fail? Paul Solman: The possibilities are various, intriguing, and terrifying. Let’s say Citi goes under. The government has to honor all of the company’s…

Feb 24

No image
Consumer Confidence Plunges to Record Low

A private research group announced Tuesday that consumer confidence sank to a record low in February. Meanwhile, Federal Reserve Chair Ben Bernanke told Congress the U.S. economy is suffering a "severe contraction."…

Question/Comment: Could you explain where all the money went that supposedly vanished during the Wall Street meltdown? Who has it? Was it imaginary or did it really exist? Paul Solman: All Wall Street values are imaginary. All money is imaginary.

Latest News