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.
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.
Unemployment jumped to 9.7 percent in August, but new data shows job cuts have slowed. Ray Suarez speaks with a financial expert about the labor market and economic recovery.
Fewer than 8 percent of eligible borrowers have successfully modified their mortgages under a $75 billion federal plan aimed at halting home foreclosures, according to a Treasury Department report. Jeffrey Kaye reports on the early struggles of the program.
In the first of a three-part discussion, Fed Chairman Ben Bernanke warned that jobless rates may continue to rise and discussed his fears of another Great Depression.
At a forum in Kansas City, Mo., Federal Reserve Chairman Ben Bernanke discussed the central bank's actions in handling the economic crisis, saying he did not want to be the Fed chief who "presided over the second Great Depression." Here…
Fed chief Ben Bernanke told a Senate panel on Wednesday that economic recovery should begin soon, albeit slowly at first. A financial analyst and a lawmaker speak with Ray Suarez about the testimony.
Despite recent improvements in the economy, the Federal Reserve will keep interest rates near zero, chairman Ben Bernanke told lawmakers Tuesday. Greg Ip of "The Economist" examines the chairman's testimony with Gwen Ifill, and discusses the central bank's plans to…
In other news, lawmakers asked new questions on the spending of federal bailout dollars, and the Senate Judiciary Committee has delayed a vote on Supreme Court nominee Sonia Sotomayor by one week.
President Barack Obama proposed a major overhaul of financial industry regulation Wednesday. White House adviser Christina Romer explains the administration's plans.
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