Sep 26 Watch Largest Bank Failure in U.S. History Preempts Any Bailout Plan Another blow was dealt to the ailing American finance system as Washington Mutual Bank was seized overnight by the U.S. government. By morning its assets were sold off to JPMorgan Chase. Business reporters detail the sudden and drastic move. Continue watching
Sep 23 Watch Massive Financial Rescue Faces Skepticism in Congress Fed chief Ben Bernanke and Treasury head Henry Paulson answered questions from skeptical members of Congress Tuesday as they pushed their $700 billion bailout plan. Analysts discuss the details of the proposal. Continue watching
Sep 22 Watch Congress Struggles With Scope of Financial Rescue Plan The government's $700 billion financial bailout proposal now faces lawmaker approval. Senate finance committee members describe which parts of the plan are stirring debate. Continue watching
Sep 18 Watch Central Banks Add Liquidity to Wobbly Markets President Bush addressed recent shifts in the financial sector, central banks flooded currency markets with cash in an attempt to spur banks to begin lending again and the presidential candidates offered fresh reactions to the crisis. Kwame Holman and Judy… Continue watching
Sep 16 Watch Presidential Contenders Call for Financial Industry Regulation Sens. John McCain and Barack Obama promised tighter government regulation of Wall Street Tuesday as they struggled to address the country's economic woes from the campaign trail. Campaign advisers debate the candidates' proposals to regulate the investment industry. 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 11 When running as intended, what cost difference does Fannie and Freddie make to the mortgage payment of the average house? By Business Desk Question/Comment: How do other nations subsidize housing (to the same end that Fannie and Freddie do in the U.S.)? When running as intended, what cost difference does Fannie and Freddie make to the mortgage payment of the average house? If… Continue reading
Sep 08 Watch Questions Remain After Fannie Mae, Freddie Mac Takeover Most U.S. stocks rose following the federal government takeover of mortgage giants Fannie Mae and Freddie Mac, but questions lingered over the impact on the housing market and the credit crisis. Business reporters and analysts mull the implications of the… Continue watching
Sep 08 Watch Treasury Official Explains Fed’s Move to Rescue Housing Firms After a recap of the weekend's news on the government takeover of housing giants Fannie Mae and Freddie Mac, acting Treasury Undersecretary Andrew Ryan details the move. Continue watching
Sep 08 Markets Rise on News of Fannie Mae, Freddie Mac Takeover By Admin, PBS News Hour Global stocks and the dollar jumped Monday on the news that the government seized control of mortgage giants Fannie Mae and Freddie Mac Sunday in a landmark attempt to stabilize the firms and contain the financial crisis caused by the… Continue reading