Three former U.S. Treasury Secretaries agree: The U.S. has plenty of problems, but it's still in a dominant global position.» Read More
Stocks staged one of the most dramatic selloffs in market history Thursday as what may have been a trader error exacerbated losses in a market already jittery about the European debt crisis. The Dow ended down about 350 points and the VIX was above 34.
Stocks declined for a third straight session Thursday as retail sales fell short of expectations and worries about the European debt crisis nagged at the market.
The US stock market could be in for another rough day as investors grew nervous over uncertainty in the European debt crisis.
The U.S. economy faces a period of slower growth as unemployment remains high and the housing market remains weak, Pimco executive Neel Kashkari said at an investor conference in Singapore overnight.
Video clips of Warren Buffett and Hank Paulson discussing the credit crisis and the economy in an appearance before the Greater Omaha Chamber on Tuesday, February 9, 2010.
Warren Buffett has made no secret of his opposition to President George W. Bush's policies and actions during his eight years in the White House. But Buffett said today that after reading former Treasury Secretary Henry Paulson's new book on the credit crisis, he has a greater appreciation of Mr. Bush's understanding of the crisis and the president's willingness to do what was needed to prevent a complete economic collapse.
CNBC.com and CNBC-TV plan live video coverage tomorrow (Tuesday) of Warren Buffett's planned 50 minute "conversation" with former Treasury Secretary Henry Paulson. Buffett and Paulson are the main event at the Greater Omaha Chamber's 2010 Annual Meeting Luncheon at the Qwest Center Omaha.
Tonight, we learn about Mr. Paulson's thinking behind all those decisions, taken in response to the financial crisis, and, ultimately, in the pursuit of long-run American prosperity.
More than a year after the collapse of Lehman Brothers, former Treasury Secretary Hank Paulson admitted that saying the bank would not get a bailout, was a ploy in the negotiations over the failed institution.
This Monday, Henry Paulson will be on CNBC as Larry's guest. The former head of the Treasury is coming on CNBC to talk with Larry about his new book and his role in the bailouts and AIG.
Unpopular as he may be, Treasury man Tim Geithner did a fine job yesterday defending the government rescues of last fall — including AIG.
A defiant Treasury Secretary Geithner defended the government's bailout of AIG last year and denied playing any role in withholding information about deals that sent billions of taxpayer dollars to big banks
What-did-they-know-and-when-did-they-know-it will be the over-arching theme of the questions. According to the US Treasury Department, Geithner was recused from "working on issues involving specific companies," including AIG after he was nominated on Nov. 24th, 2008, for the US Treasury Secretary.
The U.S. Treasury Secretary denied any role in disclosures about the insurer's payments to banks and defended his decisions as New York Federal Reserve chief to pay full price to retire AIG credit default swaps.
Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group in 2008 and said he and others involved acted properly.
The economy will continue to grow over the next few years, though unemployment will remain high and inflation tame, so there's "no urgent need" for the Federal Reverse to change its low-interest rate policy, Chicago Fed President Charles Evans told CNBC
“There's all this frustration about the bailout, the money, the Fed being asleep at the switch too long, so it's coming out as Bernanke bashing,” says one Washington observer.
Andrew Ross Sorkin says so. Cramer talks Wall Street meltdown with the author of “Too Big to Fail.”
'Over the last year, the federal government has injected over $200 billion into approximately 600 financial institutions, and guaranteed over $300 billion of their troubled assets. Given the rapidly rising US budget deficit, what was the justification for such large bailouts, and what should be the rationale for bailouts in future financial crises?,' writes Pozen.
A year after the roughest stretch for the U.S. economy since the Great Depression, these financial titans have either stepped out of the spotlight or come to the end of their careers.