William H. Gross, who manages the largest bond mutual fund in the United States, warns against nationalizing failing banks, the New York Times reports.
Stocks limped to the finish line Wednesday as broad strokes on the bank plan from Bernanke failed to comfort the market.
As the situation has become more dire, and as bank stocks again swoon as regulators are descending upon the banks to begin collecting data for Treasury's "stress test," the word "nationalization" is being heard on the Street as a legitimate alternative to the plans that have been floated. It’s a sign of how worried—desperate—the Street has become.
Futures pointed higher Wednesday as investors looked to scoop up some bargains after the previous session's selloff and shrugged off another dismal housing data point.
Host David Faber goes in-depth on the credit crisis, telling us what happened, who the players were and how it stretched across the globe.
If this recession has you so mad you just want to shake someone, check out this new line of stress-busting dolls called "Squeeze the Banker," that lets you hold them accountable — literally! Collect the whole set: Paulson, Bernanke and Greenspan. Plus, more stress-busting outlets.
Sure, no one can get it right every time. We all miss the mark now and then. But the following comments are real doozies!
Former Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is "shocked" at the breakdown in U.S. credit markets and said he was "partially" wrong to resist regulation of some securities
Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest financial crisis since the 1930s and determine how the government plans to get the nation out of the mess.
These are scary times for banking regulators around the world. Bank runs, bankruptcies, a crisis of confidence etc. These are not factors leading up to the Great Depression, but rather, ripped from today's headlines. Things that would probably keep even Alan Greenspan awake at night! Ben and Hank have definitely lost sleep this past month...
Ireland's decision to guarantee all bank deposits will contribute to the demise of the single European currency, because it will erode the euro's credibility if it's allowed to go ahead, Hugh Hendry, chief investment officer and Partner at Eclectica Fund, told CNBC on Thursday.
As Wall Street struggles to find a way forward, many on Main Street are asking how we got here in the first place.
Lehman's shares plunge as much as 43 percent of its value while Steve Jobs introduces a new line of colorful and extra-thin Apple iPods. Following are today's top videos:
Former Federal Reserve Chairman Alan Greenspan welcomed the recent takeover of Fannie Mae and Freddie Mac, telling CNBC that the government needed "to remove the ambiguity" over whether US would back up the two mortgage giants
This fall promises to be incredibly busy with the publications of some highly anticipated books that will surely become must reads.
Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial stability.
As policy makers work to ease the strain on the mortgage giants Fannie Mae and Freddie Mac, a consensus is emerging that the two companies will have to look substantially different in the long term, the New York Times reports.
Warren Buffett will make multiple live appearances throughout the three hours of CNBC's Squawk Box this coming Friday morning, August 22. He'll be sitting down with our own Becky Quick, who is traveling to Omaha for the premiere the night before of a new anti-deficit documentary that includes an appearance by Buffett.
The U.S. economy may yet slip into recession, but inflation is an even bigger risk given the "exceptionally'' stimulative stance of monetary policy, Richmond Federal Reserve President Jeffrey Lacker said Tuesday.
Poor economic data in the form of the GDP and jobless claims did not help prior to the open, but mid-morning oil came down and financials rallied, and suddenly the Dow and the S&P were only a few points from going positive.