CNBC's Kate Rogers looks back at the week's top business and financial stories. Charter announced it would buy Time Warner Cable. And a number of FIFA officials were indicted for receiving $150 million in bribes.» Read More
Senate Majority Whip Richard Durbin (D-Illinois) Thursday will take so-called bankruptcy cramdown legislation to the floor, seeking a vote on the controversial proposal, say Congressional and industry sources.
Yesterday the Treasury Department announced another element to the Home Affordable Modification Program (one part of the Making Home Affordable Program). It addresses what has been a big impediment to loan modifications so far, that is, second liens. Of the $12 trillion mortgage market, about $1 trillion are second liens (often called “piggyback loans”). According to the NY Times, 70 percent of those are held by banks.
The economy contracted at a steeper-than-expected pace in the first quarter, weighed down by sharp declines in exports and business inventories.
Ahead of the May 4 bank stress test results, experts tell CNBC that the financial system may not be in the clear yet.
South Korea posted a record current account surplus for March as exports rose for a second consecutive month, central bank data showed on Wednesday, cementing hopes the worst for the economy is over.
Consumers hoping that the worst of the recession is over may be setting themselves up for disappointment, a panel of economists said Tuesday.
Federal Reserve policymakers are weighing whether additional steps are needed to brace the economy as an outbreak of the swine flu has emerged as a potential new danger that could aggravate the recession.
It may be the safe-haven choice of the financial crisis, but experts tell CNBC that cash will underperform over the next 10 years.
South Korea's economy averted a recession in the first quarter thanks to pump-priming and rate cuts, the central bank said on Friday, supporting market bets that interest rates had troughed.
“One thing he excels at is setting realistic expectations with his audiences,” says one crisis management consultant. “He’s been careful not to over-promise.”
NOT SEEN ON T.V.: Sick of dealing with lowered limits and higher rates? One way to combat the credit industry's tactics is to go small, says John Ulzheimer.
Today I continue to follow my colleague's journey through a short sale. She started her journey on Friday.... This experience has been a nightmare for my colleague so far, dealing with the bank and the owners.
The author of the Credit Cardholder Bill of Rights tells us how the legislation will help, despite what the credit card industry has to say about it.
An ideal interest rate to help the US economy to cope with the recession would be a negative 5 percent, the Financial Times reported on its Web site, quoting an internal Federal Reserve analysis.
Global stocks were down Monday, after enjoying 7 weeks of gains, as concerns of the outbreak of swine flu spooked investors. But experts tell CNBC that stocks are still a good long-term bet.
The following is the full text of U.S. Federal Reserve Chairman Ben Bernanke's "Housing, Mortgage Markets and Foreclosures" speech issued in Washington Thursday and delivered before before the Fed conference on Housing and Mortgage Markets:
At least one of the 19 financial institutions that received a government stress test would require additional capital, based on the initial findings, according to a source.
A colleague of mine is doing a short sale today; she's the buyer. Today is closing day, and I knew this would be interesting, so I'm going to do my blog version of pseudo-Twittering it throughout the day, with emails coming in from my colleague.
"Most banks" are currently well capitalized but need to hold a "substantial" amount above regulatory requirements in case the recession worsens, the Fed said in its eagerly awaited report on bank stress tests.
Credit conditions are not improving and construction financing to build from the ground up is not available, says Ivanka Trump, executive vice president of development and acquisitions at the Trump Organization.