Flashes of illumination rather than fireworks are expected at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming.» Read More
I just got off the phone with Ed Lazear (Chairman of the President's Council of Economic Advisors), and he made a good case for the severity of the crisis, esp. negative interest rate on t bills.
Here is the second part of guest blogger Clint Goodrich's take on what it's been like sitting in front of a computer screen trading during during these historic times.
Clint Goodrich began his professional career in horseracing, first as a jockey, then as a trainer, and eventually as an owner. He eventually traded horses for the stock market, first with his own money, and now with the money of a few, well-chosen clients.
I’m wondering exactly what’s going to precipitate that recovery? In order to answer that question I think you have to look at what’s currently wrong with housing, not what caused the housing recession or how far all the numbers have fallen.
The Price is Right -- or is it? With untold billions about to be put to work to mop up this mortgage-related mess, the $700 billion question is price. How will "PBC Partners" (Paulson Bernanke Cox) figure out what to pay for all those ''priceless assets'' when for months, Wall Street's smartest were unable to get much further than "illiquid = worthless"?
Lawmakers and the Bush administration are trying to resolve differences over the legislation that would authorize the Treasury to buy $700 billion in bad assets...
The fire sale prices that financial institutions are being forced to use by mark-to-market requirements are significantly less than the hold-to-maturity price. Due to the uncertainty over pricing, private capital is unwilling to come in and buy.
The Bush administration's controversial financial bailout proposal may be getting a heavy dose of criticism today from angry lawmakers on Capitol Hill, but Warren Buffett tells us he wholeheartedly supports the plan. He told CNBC's Becky Quick over the weekend, "It's what I would do if I were there."
President Bush said Tuesday he is confident that Congress will reconcile differences and come together to pass a $700 billion bailout bill to deal with the financial meltdown that has shaken the global economy.
The Federal Reserve, which has encouraged excessive borrowing, is to blame for the credit crunch that has gripped world markets for more than a year, Marc Faber, the author of the Gloom Boom & Doom Report, told CNBC on Tuesday.
In this Web Extra the traders take a closer look at the news calendar and try and turn it into money. Find out how to play the VIX, the new Google phone and more.
“The Wall Street mess will now have collateral damage to the real economy,” says Steve Hanke, a former White House economist. “We're coming into this thing in a terrible situation.”
The financial system bailout plan, which could end up by costing Washington around $1.8 trillion, may increase the risk of stagflation, Pimco's Mohamed El-Erian told CNBC.
Treasury Secretary Henry Paulson discusses a comprehensive approach to market developments, while Gold was up over 15% over the past two days but took a beating this morning. Following are today's top videos:
We can fix this. If nothing else, that’s the message I hope readers take away from this column. Of course, the “this” is the run on the world banking system. Stock markets have plunged globally, gold prices have shot up, and U.S. Treasury-bill rates have plummeted to 10 basis points, the lowest since the 1950s.
CNBC has learned that an historic meeting is planned for Thursday evening to discuss the financial and housing crisis. What’s the word on the Street?
Statements of SEC Chairman Christopher Cox and enforcement division director Linda Thomsen regarding immediate commission actions to combat market manipulation:
Where does Uncle Sam come up with huge sums of money during a financial emergency?
Investing experts and economists worldwide weigh in on AIG and what this recent run of bailouts means for financial sectors across the globe.
If Washington doesn't want to see the Dow lose another 1,000 points, it better help this company.