There are two basic truths about the enormous deficits that the federal government will run in the coming years. The first is that President Obama’s agenda is responsible for only a sliver of the deficits. The second is that Mr. Obama does not have a realistic plan for eliminating the deficit.
An Obama administration official says the administration will appoint a "special master" to oversee executives' compensation at companies receiving large amounts of government aid, with the power to reject pay plans deemed excessive. 1st paragraph of story should go here
China stimulus trumps U.S. stimulus. Although the dollar is comparatively flat, we continue to have a global commodity rally--oil, copper, aluminum and other commodities are at or near their highs for the year.
The Republican Party blueprint for reform would strip the Federal Reserve of significant powers, create a single banking regulator, establish a special bankruptcy code to handle the collapse of too-big-to-fail non-banking firms and promises "no more bailouts."
With auto sales in the doldrums, the House approved a plan Tuesday to provide vouchers of up to $4,500 for consumers who turn in their gas-guzzling cars and trucks for more fuel-efficient vehicles.
Stocks ended mixed in choppy trading Tuesday after 10 banks were approved to repay TARP loans. But tech stocks gained after Texas Instruments raised its earnings and revenue targets for the second quarter.
"In 90 days you've gone from an attitude on Wall Street that the financial system is on the precipice to a feeling that happy days are here again," one pro says.
Get the Mad Money host’s calls on oil, tech, financials, the steels and more.
Stocks turned mixed Tuesday after the banks approved to repay TARP loans were named. But tech stocks held onto their gains after Texas Instruments raised its earnings and revenue targets for the second quarter.
Stocks opened higher Tuesday, with bank stocks rising as some of the nation's largest institutions poised to repay government bailout money.
The panel overseeing the TARP recommends running again the stress tests on US banks, as economic conditions have worsened, its chair, Harvard University professor Elizabeth Warren, told CNBC.
Futures showed a relatively flat open for Wall Street on Tuesday as the dollar's rally, fueled by last week’s better than expected jobs report, fizzled out and some investors went back into stocks.
A report by the Congressional Oversight Panel says the Obama administration's program to test the financial health of the nation's biggest banks was "constructive" but also raises "serious qustions."
Late day buying almost pushed the S&P 500 into new high territory--but fell back just at the close. Still, it was an impressive rally: we started the day with typical light summer volume; stocks were immediately under pressure from higher Treasury yields and a higher dollar.
Stocks ended flat Monday as a late rally fizzled after the Supreme Court issued a stay, temporarily halting the sale of Chrysler to Fiat.
Plus, get calls on President Obama's stimulus spending, fast food, the Paris Air Show and more.
Stocks are not cheap right now: Alec Young at S&P notes that the S&P 500 is trading at 17 times 2009 earnings, expensive by historic standards.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meaeting.
As the president’s advisers have struggled with the economic crisis, Lawrence H. Summers is often at the center of heated debates.
With the jobless rate climbing to 9.4% and the number of unemployed reaching 6 million since the start of the recession, the White House is in full damage control this week. They are attempting to explain why the $787 billion stimulus program has doled out less than 11% of the funds. The American Recovery and Reinvestment Act has a cool website explaining how it's going to create/save 3 million jobs. So far, the only thing it has created is doubts over its effectiveness.