Economy Oct 28 Reports: GMAC in Talks to Receive Third Bailout from Government GMAC, the consumer finance company and onetime subsidiary of GM, is reportedly in talks with Treasury to receive a fresh lifeline of up to $5.6 billion in aid, on top of the $12.5 billion the government has already injected into…
Economy Aug 18 Why Do Medical Costs Vary So Much Across the Country? Question: Why do medical procedure costs vary so much by region of the country? Paul Solman: I think the best answer I’ve come across is a piece in the June 1 New Yorker by the ever-excellent Atul Gawande, The…
Economy Jul 27 Bernanke Reflects on Fed’s Actions in Forum In a forum on the Fed's role in the handling of the economic crisis and recovery, Federal Reserve Chairman Ben Bernanke reflected on his desire not to be the Fed chief who "presided over the second Great Depression."…
Economy Jun 18 How Will the Regulatory Reforms Affect Consumers? Paul Solman: We asked a number of people in the personal finance business and others close to the credit crisis to weigh in on the Obama administration’s new consumer protection proposal. I’m struck by Doug Elliott’s admonitions, especially his last…
May 21 Watch For One Reporter, a Personal Journey Through the Mortgage Meltdown In the latest report of his Making Sen$e series, Paul Solman talks to New York Times economics reporter Ed Andrews, who chronicles his personal tale of the mortgage crisis in "Busted: Life Inside the Great Mortgage Meltdown."… Continue watching
May 21 How One Economics Reporter Experienced His Own Mortgage Meltdown Paul Solman: Who knew? I’ve been reading Ed Andrews since he took over the New York Times patents column back in the late 1980s, and I followed him following the housing crisis. But until the… Continue reading
Mar 27 How Can Assets Be Toxic If They Were Insured? Question: Why does everyone avoid discussions about PMI (Personal Mortgage Insurance), which protects the lenders from loss and is required on all loans with less than 20 percent down (except VA & Federal Housing… Continue reading
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
May 06 Watch Fannie Mae Posts Losses; Mortgage Market Quakes The mortgage giant Fannie Mae posted $2.2 billion in losses Tuesday in its third consecutive quarter of bad news. A reporter from the New York Times explains this latest bad news and its potential impact on the mortgage market. Continue watching