Jan 14 Watch Big Banks Brace for Major Tax Hike President Obama announced Thursday plans to tax the nation's biggest banks to recoup TARP costs. But not everyone thinks this is such a great idea. Continue watching
Dec 14 Watch Bailout Banks Continue March Toward Recovery Judy Woodruff gets another reaction to the White House banker summit from Steve Bartlett of the Financial Services Roundtable, which lobbies for most of the banks represented in Monday's meeting with President Obama. Continue watching
Dec 14 Watch Obama: Banks Must Lend More to Help Economy President Obama asked the leaders of top U.S. banks on Monday to assume a larger role in helping the economy to recover. Kwame Holman reports and then Judy Woodruff speaks with presidential senior adviser Valerie Jarrett for more details. Continue watching
Oct 21 Watch Other News: Wells Fargo Concerns Drive Market Sell-off In other news, worries about the health of Wells Fargo triggered a late day sell-off on Wall Street, and former Afghan foreign minister Abdullah Abdullah agreed to the presidential runoff set for November. Continue watching
Sep 23 Watch Top Banks Rethink Policies on Overdraft Fees Leading banks move to change overdraft fees deemed harmful to consumers. Jeffrey Brown speaks with a banking expert about the overhaul. Continue watching
Jun 09 Ten Banks Allowed to Repay $68B in Bailout Funds By Admin, PBS News Hour Ten large U.S. banks have been cleared by the Treasury Department to start repaying $68 billion in bailout money and begin to free themselves from an extraordinary government intervention program that began amid the global financial crisis. Continue reading
Apr 21 How Significant Are the Latest Earnings from Wells Fargo? Question: Wells Fargo just announced quarterly financials in very positive position. Do you think this is a really significant event? How should we evaluate the latest numbers? Paul Solman: Your guess is as good as mine, Sheldon. I’ll quote again… Continue reading
Nov 17 Citigroup Plans to Slash Another 50,000 Jobs By PBS News Hour Banking giant Citigroup Inc. announced Monday that it plans to trim approximately 50,000 more jobs as it struggles to steady itself after suffering massive losses from deteriorating debt. Continue reading
Oct 09 If banks do not have money to lend, how can they buy up finance firms and other failing banks? Question/Comment: If banks do not have money to lend, how can Citicorp, Wells Fargo, etc. come up with billions to purchase failing banks and finance firms? Paul Solman: They aren’t forking over any cash. “Purchase” means subsume. Wachovia becomes part… Continue reading
Oct 03 Wachovia Spurns Citibank, Will Be Acquired by Wells Fargo By PBS News Hour Wachovia Corp. changed course on a buyout deal Friday, agreeing to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, reversing an earlier agreement to be acquired by Citigroup. Continue reading