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The dismal housing market dragged down fourth-quarter profits at Lowe's by 60 percent, and executives at the home improvement chain said they see little hope of a substantive fix from a federal effort aimed at helping struggling homeowners.
We are trying to help people who have been "victims of the unforeseen circumstance," Jared Bernstein, Chief Economist to Vice President Joe Biden told CNBC.
An awful lot of you disagreed with my post yesterday that real estate investors should be included in the bailout and should not be reviled. I want to follow up with a little clarification of my point.
Stocks ticked up as White House Press Secretary Robert Gibbs has thrown some cold water on the bank nationalization rumors by saying that the U.S. “will continue to have” a private banking system.
CNBC's Rick Santelli's impromptu and impassioned revolt against the Obama administration's housing bailout quickly spread to Europe, dividing popular opinion clean down the middle and igniting red-hot political debate.
Langone says he has faith the Obama team will turn things around, he's not crazy about the way the administration has gone about things so far.
The Presidential Automotive Task Force is meeting today, and there is no shortage of advice for them from the Street.
Words My Mom Taught Me To Fear: "We're From the Government and We're Here To Help," says Andrew Busch.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
European banks are notably weak, and several large U.S. banks like Citi and Bank of America are down 10 percent pre-open. Gold stocks are again trading up 2 to 5 percent.
President Obama’s massive mortgage-bailout plan is nothing more than a thinly disguised entitlement program that redistributes income from the responsible 92 percent of home-owning mortgage holders who pay their bills on time to the irresponsible defaulters who bought more than they could ever afford. This is Obama’s spread-the-wealth program in action.
Fairness will be the death of us. In all the discussions of Obama's new housing plan, the notion of fairness, or rather, the plan's fundamental unfairness, comes up again and again.
Global stocks ended the week in the red, near 6-year lows, as pessimism over the economy and banking sector set in, scaring investors away from stocks and back into bonds and gold.
Banks are again weak on concerns about the government's "stress test." The first worry is we don't know what this "stress test" consists of. Some are estimating that it may require 6 percent Tier One capital, and 3 percent tangible capital. Many banks may not pass that test.
President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes.
Wall Street and the private sector already have begun dealing with this morass on their own, if only the President and Treasury Secretary Timothy Geithner would take heed.
I’d like to know when exactly, on what day in particular as the housing market crashed down around us, that everyone decided the real estate investor was the villain?
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse The "cure" for the housing virus is so far outside the bounds of our political and economic sensibilities that we can take it off the table. A real cure would require spending nearly an order of magnitude more than what was announced yesterday, and it would involve bailing out the very worst actors in this drama.
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
Wall Street talking heads got you baffled? Cramer debunks 10 myths to help you separate fact from fiction.