Oct 16 Loan Losses Drive Down Bank of America Earnings Bank of America reported Friday that it lost more than $2.2 billion in the third quarter, largely due to loan defaults and credit card delinquencies. Continue reading
Oct 14 Watch Wall Street Set for Record Payouts a Year After Crash Despite heightened scrutiny from both the public and regulators in the wake of the AIG bonus scandal, compensation on Wall Street is set for a record year in 2009. Jeffrey Brown reports. Continue watching
Oct 08 The Personalities and Priorities of Obama’s Economic Team By Carolyn O'Hara Ryan Lizza, Washington correspondent for The New Yorker magazine, has penned a new account of how the main players on the White House economic team negotiate their different backgrounds and priorities in crafting high-stakes economic policies. Continue reading
Sep 16 A Year After Bailout, Uncertain Future for AIG A year after the U.S. government came to the rescue of insurance giant American International Group (AIG), the company has a new CEO and its share price is up. Yet the company's future remains uncertain. Continue reading
Sep 14 Watch Obama Urges Wall Street to Embrace Stricter Oversight On the one-year anniversary of the collapse of Lehman Brothers, President Obama visited Wall Street to urge financial firms to remember the lessons of the economic crisis and to press for regulatory reforms. Continue watching
Sep 14 Obama Urges Sweeping Overhaul of Financial Regulation By Carolyn O'Hara A year after the collapse of Lehman Brothers set off one of the toughest weeks in Wall Street's history, President Barack Obama delivered a speech Monday outlining "the most ambitious overhaul of the financial system since the Great Depression."… Continue reading
Sep 10 Watch Other News: White House Says Stimulus Has Saved 1 Million Jobs In other news, White House economic advisers reported Thursday that stimulus efforts have already created or saved more than 1 million jobs. Also, the Labor Department reported that first time unemployment claims fell last week. Continue watching
Aug 20 Simon Johnson on Economic Green Shoots By Business Desk Editor’s Note: For the next week, we’ll be featuring video conversations here on the Business Desk with one of our favorite economists, Simon Johnson, former chief economist at the IMF, now at the… Continue reading
Aug 13 Home Foreclosures Set Third Record in Five Months By Online DA Foreclosure filings in the United States jumped in July, again setting a record for the third time in five months. The increase was due to falling home prices and the recession, which kept some homeowners from making payments or refinancing. Continue reading
Aug 12 Watch Crisis Turned Federal Reserve Into Fourth Branch of Government, Author Says "In Fed We Trust" author David Wessel discusses how the central bank reacted to the financial crisis and its changing role in setting U.S. and global financial policy. Continue watching