CNBC's Sara Eisen reports the Senate Banking Committee considers the nomination of Stanley Fischer for Fed Vice Chairman.» Read More
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.
Lehman Brothers, Washington Mutual and AIG all race against time leading to a weekend of work and worry.
Failure to address the underlying weaknesses in the banking system and some shortcomings in the package of regulatory reforms for the financial sector could result in a crisis relapse in the next few years.
Treasury Secretary Timothy Geithner offered a spirited defense of the government's efforts to forestall another Great Depression but cautioned that the recovery would be slow and painful.
Uncertainty over guidance from Lehman Brothers casts a pall over the entire banking sector, including Merrill Lynch, Goldman Sachs — and Lehman itself.
On Sunday, no rest for Wall Street. And the dominos fall. Lehman Brothers files for chapter 11 protection, Merrill Lynch sells itself to Bank of America and AIG prepares for a dramatic decision.
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
On Tuesday, Lehman Brothers starts playing defense. Reports say Lehman management is considering moving up the release of its third-quarter earnings, which had been scheduled for next Thursday. Opinion is split on fannie and Freddie — with on builder calling a bottom.
Monday sees a dawn for markets...a false dawn. Investors rejoiced that the U.S. Treasury will take over Fannie Mae and Freddie Mac, seeing a sign that housing troubles are over. Stock markets all over the world rocket upward. But not everyone shares the . Lehman Brothers ends the day down 13 percent. Why?
The U.S. markets may be closed Sunday, but that doesn't stop rumblings and news on the financial front. Lehman Brothers officials are hoping to finalize plans to raise capital and sell off bad debts sometime this coming week. And U.S. Treasury officials expect to buy $5 billion of Fannie Mae and Freddie Mac securities within the next month, as part of the takeover of the mortgage finance giants.
For the troubled financial sector, Saturday brings no rest. The U.S. plans to bring mortgage finance firms Fannie Mae and Freddie Mac under Federal control, according to reports. The move could constitute the biggest financial bailout in American history. And shareholders are facing the prospect of a wipeout.
It's a pretty black Friday. Another bleak unemployment report shows the August joblessness rate shot up to its highest level since summer of 2003. And the glum news seems to rattle every spoke on the financial hub.
The current market rally is based on temporary measures and could evaporate once government stimulus has run its course, Pimco's Mohamed El-Erian told CNBC.