Action moves to the Senate after the perennially divided House approved a $16 billion bill for veterans health care.» Read More
The new president's plan to rescue the financials is great news. But investors shouldn't race to buy stock in the companies who have their hands out.
After gathering with President Barack Obama and other CEOs to discuss the economy and the business environment, Google's CEO Eric Schmidt told CNBC that the overall message of the meeting was that the federal government must “act quickly,” and he believes Obama has a clear understanding of what's needed.
Moving with remarkable speed, the Democratic-controlled U.S. House of Representatives approved $819 billion in spending increases and tax cuts at the heart of President Barack Obama's economic recovery program.
Stocks ended at session highs Wednesday, led by banks, amid enthusiasm for this so-called "bad bank" plan and as the $825 billion stimulus package neared approval.
The Fed was very gloomy in its Open Market Committee statement today. It suggested a gradual recovery could begin later this year, although there are plenty of downside risks.
Stocks held onto a nearly 200-point gain Wednesday after the Federal Reserve issued its statement on the economy.
The longer Congress deliberates, the worse things get and the harder they become to fix. That means, all else equal, every day we wait, the stimulus plan becomes worse.
Repairing financial markets will require governments to remove bad assets from banks, said Laura Tyson, an economic adviser to the Obama administration...
Obama used his talks with business leaders to keep up a lobbying campaign for passage of his economic plan, which could be the signature domestic initiative of his first term as he struggles to deal with the worst financial crisis in decades.
Stocks shot out of the gate Wednesday as lawmakers prepared to move ahead on an $825 billion economic stimulus plan and banks got a boost from this so-called "bad bank" plan.
President Barack Obama's $825 billion package is headed toward passing in a sharply divided House of Representatives on Wednesday.
Like snow in Chicago, the good news just keeps falling today for the equity markets. That's right, I said good news, says Andrew Busch.
I asked the questions, and you told me in no uncertain terms what you think the President should do with the auto makers. Your reasons for each answer varied, and there were some you disagreed on more than others. With that said, let me give you a sense of some answers.
US stocks were poised to continue their positive start to the week Wednesday, as investors looked to a key policy meeting of the Federal Open Market Committee for more action to stem the credit crisis.
Russia has halted a plan to retaliate against a proposed U.S. missile defense shield by stationing its own missiles near Europe's borders, a Russian news agency quoted the military as saying on Wednesday.
That was the opinion of economist Nouriel Roubini, of RGE Monitor, who was one of the first people to predict the housing crisis, speaking to "Squawk Box Europe" this morning.
In late breaking news Steve Liesman reveals that the Treasury could set up a bad bank -- as soon as next week!
We need a coherent plan for dealing with troubled companies, not just the financials but also the automakers that have borrowed federal money like General Motors and Chrysler. If you ask me, we should nationalize everything we can get our hands on.
Stocks pulled off a gain — barely — as investors cheered earnings surprises from American Express and others amid an underlying buzz of anxiety about the economy.
I know many of you think I'm the angel of housing doom, but we need to face some cold hard facts. One month-to-month increase in sales, percentage-wise, from a huge drop the previous month, means absolutely nothing.