So we have yet another plan to help save homeowners in trouble, the latest in a long string of proposals. Are they enough to solve the housing market's problems? Is this a game changer? There's plenty of skeptics who think the answer is an outright no.
The U.S. economy has taken a sharp turn for the worse and is facing a tough quarter, U.S. Treasury Secretary Henry Paulson said on Thursday.
With today's hearings in Washington on the JP Morgan Chase buyout of Bear Stearns, here is a look at how the Financials and Home Builders have faired since their close the Friday before the deal was announced.
An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
Also, a crude comeback, RIMM earnings and more on the Fed chief's testimony.
Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
Federal Reserve Chairman Ben Bernanke warned Congress that the economy may shrink over the first half of this year, saying "a recession is possible." Yet, he didn't offer any assurances of further interest rate cuts.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
As Bernanke gets set to testify before Congress Wednesday, the market will be watching his every move to determine whether Tuesday’s rally is sustainable.
Fed Chairman Bernanke will go before Congress Wednesday in his first public testimony since the rescue of Bear Stearns and other Fed efforts to stem the credit crisis.
The full text of a speech on the "Blueprint for Regulatory Reform" given by Treasury Secretary Henry Paulson on March 31, 2008:
Treasury Secretary Henry Paulson announced the biggest overhaul of financial regulation since the Great Depression. But the sweeping plan is already drawing intense criticism.
The Bush administration is proposing the biggest overhaul of financial regulation since the Great Depression. The sweeping plan is already drawing intense criticism -- a debate unlikely to be settled until a new president takes office.
The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial markets, which would be the largest financial regulatory overhaul in decades.
The Bush Administration's plan to dramatically overhaul financial regulations -- which will be announced Monday -- is already raising questions as to whether it will give too much power to the Federal Reserve.
The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
The U.S. government is facing growing pressure to lead a bailout of distressed mortgage holders because of worries that a rising tide of foreclosures could swamp the economy.
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
Such is the level of disaster-mongering surrounding the latest phase of the credit crisis that you could be forgiven for thinking we'll all be hoarding food and reverting to a barter economy.