On Capitol Hill Tuesday, Ben Bernanke and Henry Paulson defended their economic rescue strategy and automakers made their case for federal aid. Senators detail the debate over using bailout funds to help automakers.
Citigroup announced plans Monday to cut 53,000 jobs worldwide as a result of the worsening global fiscal crisis and large company losses. Roben Farzad of Business Week assesses the financial institution's troubles and how other banks are faring.
Economists discuss Treasury Secretary Henry Paulson's announcement Wednesday that the government will shift its focus from buying troubled assets to shoring up institutions that manage credit cards, auto loans and other types of borrowing.
U.S. and global markets endured another tough day Friday as fears intensified of a global recession. Financial experts examine the factors driving the recession speculation and possible solutions to the crisis.
Question/Comment: When the day comes that the banks and other financial institutions start to repay the vast amounts of money that have been borrowed by the Treasury Department, shouldn’t that money be used to pay down the additional national debt…
By Admin, PBS NewsHour
The House of Representatives passed hotly-debated legislation Friday to bail out the troubled financial industry by a 263-171 vote, agreeing to the Senate bill that passed on Tuesday and sending it to the White House for President Bush's signature.
While waiting for more of your emails (they come in via the Online NewsHour in Virginia), I’ve been fielding a few from friends and neighbors. I thought I’d share them, and my answers, this afternoon. First, from my earliest friend:…
By Admin, PBS NewsHour
With bipartisan support, the Senate easily approved a massive federal rescue plan aimed at stabilizing the economy and freeing up the crippled credit market Wednesday night. The vote was 74-25.
It was a devastating week on Wall Street and a contentious one in Congress as politicians battled over bailout proposals. With the presidential candidates heading to the first debate, political analysts Mark Shields and David Brooks reflect on the developments.
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.
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