The Republican-dominated House of Representatives on Thursday voted to switch federal student loan interest rates to a market-based system.» Read More
There was a selloff today, but it was on very light volume. Not surprisingly, bank stocks, which have collectively rallied 50 percent in the last three weeks, were down about 10 percent as a group. ... We are definitely heading toward some kind of denouement, and that can only be a good thing..
President Obama asserted unprecedented government control over the auto industry, rejecting turnaround plans from GM and Chrysler and raising the prospect of controlled bankruptcy.
A look at the Obama administration's plan for General Motors and Chrysler:
Would it be better for taxpayers if GM went into bankruptcy? That's what some are saying on Wall Street this morning.
To really understand Washington’s new power structure, you need to look beyond the limelight to a group of below-the-radar appointees who will be implementing President Obama’s economic and business agendas.
President Barack Obama is sending a blunt message to Detroit automakers: To survive—and win more government help—they must remake themselves top to bottom.
As word spreads about Rick Wagoner's resignation from GM, and Obama's autos task force rejecting the turnaround plans of both GM and Chrysler and warning bankruptcy, the auto industry enters its next phase of retooling.
President Barack Obama announced Saturday he would nominate three new people for positions at the Treasury Department.
Our Erin Burnett spoke with several bank CEOs as they emerged from a meeting with the President. While no hard news was made, the level of contentiousness seems to be much lower.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalsefalsefalse The Obama Administration is ending a positive week for them by bringing to the White House a group of big bank CEOs and today's meeting is a smart and powerful tool for the White House in trying to achieve their policy and message goals.
As we approach the end of a tumultuous quarter, it's time to do the bull-bear thing. First, a quick stat: Laszlo Birinyi noted this morning that the S&P 500's gain of more than 20 percent in a few days in March was the quickest 20% gains since 1938!
President Barack Obama will quiz top U.S. bankers Friday about developments in the economy and their businesses as his administration seeks broader authority to regulate the financial system.
Stocks moved on three events today: 1) better than expected earnings from Best Buy, ConAgra, and Dr. Pepper, 2) a better than expected 7-year note auction has alleviate demand concerns, and 3) continued pressure on short sellers.
How in the world do Wall Street and Washington restore trust with the American public? It's a question both sides have wrestled with for months. But we're tackling it tonight on our CNBC special, "Restoring Trust: How to Fix America's Economy."
Did someone give the House of Representatives reasonableness pills? Treasury Secretary Geithner is testifiying in front of the House Financial Services Committee...his primary topic is tougher oversight of the financial system, but he is also touching on hedge fund regulation and the need to get credit default swaps on a regulated exchange.
If you thought March 31 would be the day the government would make a final pronouncement on GM and Chrysler, it's time to think again.
The Obama administration’s economic recovery plan and proposed budget has lots of things for small and closely-held businesses – almost all of them bad, writes author Wayne Rivers.
Yesterday, we had some questionable reporting on US Treasury Secretary Geithner's comments on the US dollar.
The Obama administration has unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds.
The desire of many banks to give back TARP money—and the lack of a process to do so—is again a topic of converstation on trading desks this morning.