Mar 12 Watch Madoff Pleads Guilty to Massive Wall Street Fraud Bernard Madoff pleaded guilty Thursday to fraud charges totaling an estimated $65 billion. Analysts discuss the case and the prospects of victims recovering any money. Continue watching
Mar 10 Watch Madoff Expected to Plead Guilty as Details of Alleged Fraud Case Emerge Lawyers for Bernard Madoff, who allegedly defrauded investors of nearly $50 billion, said that the former Wall Street financier would likely plead guilty to 11 criminal counts on Thursday. New York Times reporter Diana Henriques updates the story. Continue watching
Mar 06 Unemployment Rate Soars to 8.1% in February By Admin, PBS News Hour U.S. employers cut 651,000 jobs in February, the Labor Department reported Friday, pushing the nation's unemployment rate to 8.1 percent, the highest it has been since 1983. Continue reading
Mar 03 Obama, Brown Praise Relations, Assess the Economic Crisis By Admin, PBS News Hour President Barack Obama and British Prime Minister Gordon Brown on Tuesday hailed the "special relationship" between their countries as the two held talks on how to solve the economic crisis reverberating around the globe. Continue reading
Mar 03 What’s the Significance of the Dow Dropping Below 7,000 Points? By Business Desk Question: What’s the significance of the Dow dropping below 7,000? Paul Solman: Just another number. To the extent that people focus on it, however, it can have the effect of increasing the anxiety over stock prices, and lead to more… Continue reading
Mar 03 Why Does AIG Need Yet Another Bailout? Question: Why does AIG need yet another bailout? Paul Solman: As Joe Nocera and Frank Partnoy explained on Monday’s show, it’s all about the “counterparties.” These are the large financial institutions with whom… Continue reading
Mar 02 Government Expands AIG Rescue, Stocks Slump By PBS News Hour The federal government said Monday that it would give floundering insurer American International Group access to an additional $30 billion in U.S. taxpayer money as part of a newly revamped rescue plan. Continue reading
Feb 27 Watch Other News: Al-Marri to be Transferred to U.S. Civilian Court System In Friday's other news, alleged al Quaida suspect Ali Al-Marri will be transferred to the U.S. civilian court system to stand trial after 5 years in a military brig and the Dow Jones Industrial and the Nasdaq each finished the… Continue watching
Feb 26 Watch Other News: U.S. Jobless Claims Rise, Stocks Fall on Health Care Plans In other news, the Labor Department reported that U.S. jobless claims rose to their highest levels since 1982 and markets fell on concerns that medical and drug companies would lose money under the president's new health care budget. Continue watching
Feb 25 Wall Street Teeters, Obama Presses Economic Plan By Admin, PBS News Hour Wall Street rang up fresh losses in early trading Wednesday as the Obama administration pressed its economic plan and moved forward with preparations to begin new "stress tests" on the banking system. Continue reading