Flashes of illumination rather than fireworks are expected at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming.» Read More
Stocks have gone too far too fast and are due for a retreat in an economy that will grow slowly, Pimco's Bill Gross said on CNBC.
Despite predictions the Great Recession is running out of steam, the House is taking up emergency legislation this week to help the millions of Americans who see no immediate end to their economic miseries.
The Bush administration and Congress step up talks Sunday on an historic $700 billion bank bailout — racing the clock to stem further financial market turmoil.
Saturday begins another weekend of little rest for Wall Street or the U.S. government. A gigantic financial rescue plan is going to Congress. Democrats seek changes to the bill — including help for homeowners and a salary cap for CEOs. If the plan is approved, the government could purchase as much as $700 billion in mortgage-related assets from U.S.-headquartered institutions.
On Friday, the market rollercoaster continues — and seems to end up nearly where it began. Panic in funds parallels equities. FDIC's Bair warns of more bank failures. But the SEC's short-selling ban gives financials a big boost.
The Treasury plans to re-create the Resolution Trust Corporation. Calpers says it will no longer loan out shares of Goldman Sachs and Morgan Stanley to short sellers. Central banks worldwide announce plans to support money markets.
"Nothing good can come from the Federal Reserve," writes Texas Congressman Ron Paul in his latest book hitting shelves this week, titled "End the Fed." Paul makes the case that the Fed is the main culprit responsible for the current economic mess the country faces through the destructive policies of cheap credit and excessive money printing.
AIG makes a deal with the Fed for loans up to $85 billion in exchange for a 79.9 percent stake in the insurer. Barclays buys several Lehman businesses for $1.75 billion. WaMu is for sale. And the SEC announces rules against naked short selling.
Stocks rallied for a third day Wednesday, jumping more than 1 percent, as industrial production rose for a second straight month and weakness in the dollar boosted commodity and industrial stocks.
Stocks continued to rise Wednesday, after major indexes hit new highs for the year Tuesday, as oil prices topped $71 a barrel and industrial production rose for a second straight month.
Warren Buffett's interview with Becky Quick marking the one-year anniversary of the height of the financial crisis aired in two parts on CNBC this morning and last night. This is the transcript and video of the complete interview, including portions that did not air on TV in either part.
Wall Street looked set for a higher open Wednesday, after major indexes hit new highs for the year Tuesday, encouraged by Federal Reserve chairman Ben Bernanke's remarks that the US recession was probably over.
Warren Buffett says he's buying stocks, but it's not because he thinks the recession is ending.
On Tuesday, even "good" financials start out looking pretty bad: Goldman Sachs' earnings plunge and AIG scares investors again. But volatility makes the market hard to predict.
Fed head Ben Bernanke declared “the recession is very likely over at this point,” adding the phrase “from a technical perspective.” He said this during a question-and-answer session at the Brookings Institution today. Well, gee whiz golly.
The economy faces a big test next month when the government starts winding down its massive support programs, banking analyst Meredith Whitney told CNBC.
"The V-shaped recovery just got a badly needed shot in the arm today as the consumer is back in the game in a big way," said economist Chris Rupkey.
On Monday, the weekend's turmoil starts taking its toll. Stocks fall sharply Monday on a triptych of Wall Street woe: Lehman Brothers' bankruptcy filing; Merrill Lynch's acquisition by Bank of America; and AIG's unprecedented request for short-term financing from the Federal Reserve.
The Federal Reserve must guard against excessive behavior in the financial industry to avoid another financial crisis, Stephen Roach, chairman of Morgan Stanley Asia, said Monday.
Hurricane Ike takes a backseat to the the banking storm: BofA pulls out of Lehman to focus on Merrill Lynch. By late Saturday night, a deal has been drafted to acquire Lehman's bad assets and pave the way for an eventual sale of the firm.