Sep 15 Watch Uncertainty Hits Wall Street After Lehman, Merrill Meltdown The demise of Lehman Brothers, Merrill Lynch's $50 billion buyout and concerns about AIG caused a Wall Street panic Monday. Economic analysts give insight on the causes and implications of the financial crisis. Continue watching
Sep 15 Watch Wall Street Turmoil Forces Change to Banking Landscape After a frantic weekend on Wall Street, Lehman Brothers filed for bankruptcy and Bank of America moved to buy Merill Lynch -- all of which sent the Dow Jones industrial average plunging on Monday. Reporters from the New York Times… Continue watching
Sep 15 Lehman Brothers Files for Bankruptcy, Merrill Lynch Sells to Bank of America By Admin, PBS News Hour After a frantic weekend that shook Wall Street to the core, Lehman Brothers filed for bankruptcy Monday under the weight of $60 billion in bad real estate holdings and Bank of America moved to buy Merrill Lynch in a $50… Continue reading
Sep 10 Lehman Plans Asset Sale to Boost Investor Confidence By Admin, PBS News Hour Investment bank Lehman Brothers announced plans Wednesday to sell a majority stake in its investment management business as the company struggles to stay afloat after reporting a record quarterly loss of about $4 billion. Continue reading
Sep 09 Watch United Airlines Tallies Damage From False Stock Report A 2002 news article about United Airlines filing for bankruptcy protection resurfaced erroneously on trading screens Monday -- and the company's shares quickly plummeted as a result. Business reporter Frank Ahrens of the Washington Post examines the mishap. Continue watching
Aug 26 Home Prices Dip, but Market Signals Improvement By Admin, PBS News Hour While the U.S. housing market continues to suffer from a slide, new statistics released Tuesday show some evidence that the situation is improving as reluctant buyers return to the market to snatch up bargains. Continue reading
Aug 20 Watch Wall Street's Role in the U.S. Mortgage Crisis Examined As part of an ongoing series of conversations on recent U.S. economic woes, Paul Muolo co-author of "Chain of Blame: How Wall Street Caused The Mortgage and Credit Crisis" discusses his investiation into Wall Street's connection to the current housing… Continue watching
Aug 05 The "experts" all seem to be on the side of the status quo. Why can't we hear from people inside the industry who really want to reform it? Question/Comment: With all the discussion of the mortgage crisis, there is still hardly any mention of actually cleaning up the mortgage industry. The "experts" all seem to be on the side of the status quo, but maybe this is contributing… Continue reading
Jul 24 Ford Reports $8.7 Billion Second-Quarter Loss By PBS News Hour The Ford Motor Co. on Thursday posted a second-quarter loss of $8.7 billion, due mostly to the declining value of its SUV and pickup truck lines, and announced a plan to overhaul its North American production to focus on small… Continue reading
Jul 22 Wachovia Posts Surprising $8.9 Billion Loss By Admin, PBS News Hour Banking giant Wachovia Corp. reported a nearly $9 billion second-quarter loss Tuesday, surprising Wall Street analysts who had expected a smaller drop. The company plans to cut 6,350 jobs and slash dividends to offset the losses. Continue reading