Chairman Frank, Ranking Member Bachus, and other members of the Committee, I appreciate having this opportunity to review some of the activities to date of the Treasury's Troubled Asset Relief Program, or TARP, and to discuss recent steps taken by the Federal Reserve and other agencies to support the normalization of credit markets.
Good morning and thank you for the opportunity to testify this morning on implementation of the Emergency Economic Stabilization Act. I am grateful and everyone in this country should be grateful, for the efforts of Chairman Frank, ranking member Bachus, this committee and other members of Congress toward adoption of the financial rescue legislation, which created critically important authorities and financial capacity to stabilize our financial system.
As recession fears continue to spread globally, investment banks like Goldman Sachs scramble to survive — and investment gurus alter their tactics and strategies to roll with the damage. CNBC's expert advisors gave their outlooks on what's coming and what to do about it.
The U.S. government should provide funding to struggling Detroit automaker General Motors, Wilbur Ross, chairman & CEO of WL Ross & Co., told CNBC on Friday.
Stocks enjoyed a late-day rally Thursday after the S&P 500 broke through its Oct. 10 low — but the euphoria abruptly ended amid talk of a $14 trillion consumer debt pile, and layoff talk from Sun Microsystems and Dow Chemical. CNBC's expert guests offered their views on what's coming next.
The full remarks of Federal Reserve Chairman Ben Bernanke on central bank policy coordination the Fifth European Central Bank Central Banking Conference.
This weekend's global economic summit isn't generating a lot of enthusiasm on Wall Street. But some are hoping that the gathering might yield some tangible results.
New jobless claims hit a 7-year high Thursday; and even strong companies look weaker in the future. But some strategists see hopeful market signs amid the chaos. CNBC canvassed economic and financial experts for their insights.
Treasury Secretary Henry Paulson on Wednesday said he'd direct the $700 billion bailout fund toward uses like consumer debt — and away from dicey mortgage assets. Solid news for some; more uncertainty for others. CNBC's expert guests weighed on the markets and the global economy.
The US government could be entering a bottomless pit of bailouts if it starts propping up failing companies outside the financial sector—including the struggling auto industry, economists say.
The economy will worsen in the coming months and cause the market to fall another 20 to 25 percent in the United States and abroad, said Nouriel Roubini, a New York University business professor, on CNBC’s “Squawk Box” on Monday.
Market pros are seeing more regulation ahead for financial markets.
Barack Obama's victory and an expanded majority in Congress could have Democrats making up a list of economic stimulus measures and checking it twice.
Barack Obama's victory and an expanded majority in Congress could encourage Democrats to make up a list of economic stimulus measures and check it twice.
The U.S. Treasury said on Wednesday it will resurrect the 3-year note and conduct more frequent auctions of 10-year notes and 30-year bonds to cope with staggering borrowing needs that some say could reach $2 trillion in the current fiscal year.
The standard position in American politics is to act like the government running a deficit is bad, and especially bad for the younger generation because, after all, "we're the ones who are going to have to pay it back."
Washington, taking a page out of Hollywood, looks set to release Stimulus 2, the sequel. And if anything, it may be the mother of all economic stimulus packages.
Consumer confidence suffered its steepest monthly drop on record in October, a survey showed Friday, as the worst financial crisis in generations took its toll.
Regulators are expected to approve a clearinghouse for credit derivative swaps in the next several weeks, CNBC has learned.
U.S. consumers cut their monthly spending for the first time in two years during September, evidently bracing for hard times as jobs continue to disappear and credit conditions tighten.