Feb 20 Web Extras: Upside of the Downturn Editor’s Note: On Friday’s NewsHour, we aired another in our series of reports on making sense of the recession. The segment is about the “upside of the downturn,” which looks at the silver lining of the economic slump. Paul Solman:… Continue reading
Dec 30 Consumer Confidence Hits Record Low By Admin, PBS News Hour More gloomy news emerged on the U.S. economic front Tuesday as consumer confidence fell to a record low in December and new data showed home prices dropped by the sharpest annual rate on record in October. Continue reading
Nov 14 FDIC: Plan Could Avert 1.5 Million Foreclosures By Admin, PBS News Hour About 1.5 million American households could stave off foreclosures under a revised loan-guarantee program unveiled Friday, the Federal Deposit Insurance Corp. said. Continue reading
Sep 24 Watch Wall Street Woes Ripple Through Local Economies The collapse of financial institutions on Wall Street has sent ripples of fear through local economies across the U.S. Four business journalists from across the nation assess the regional impacts of the financial upheaval. 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
Aug 14 Watch American ‘Lust’ for Homeownership Tied to Credit Crisis The drive to own more homes and renovate old ones in the U.S. fueled the number of bank loans that underlie the country's meltdown. In the first in a series of interviews on the economic downturn, Daniel McGinn, author of… Continue watching
Jul 29 Home Prices Slid 15.8% in May, Survey Finds By Admin, PBS News Hour Home prices slid by a steep 15.8 percent in 20 U.S. cities in May, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday, offering the latest evidence of continuing struggles in the nation's housing market. Continue reading
Jun 26 Watch California Community Hit Hard by Economy’s Fall Residents of a once-prosperous California community are feeling an economic pinch as home foreclosures, the credit crunch, low consumer confidence and high oil prices have hurt the U.S. economy. Continue watching
Mar 25 Watch Foreclosure Rates Reflect Human Cost of Mortgage Meltdown The city of Baltimore has lately seen skyrocketing foreclosure rates and slumping home prices. The housing shake-up led the city to sue its largest lender -- Wells Fargo -- over allegations that it gave black homebuyers higher loan rates than… Continue watching
Dec 06 Watch Paulson: No ‘Silver Bullet’ in Bid to Ease Mortgage Crisis As home foreclosures reached a record high Thursday, President Bush announced a deal with mortgage lenders to freeze interest rates on some subprime mortgages due to move sharply higher soon. Treasury Secretary Henry Paulson discusses the details of the proposal. Continue watching