Janet Yellen is offering a back-to-the-'50s approach to interest rates, says Larry Kudlow. He thinks she's right, though for many wrong reasons.» Read More
First it was Hyundai, with its radical offer to let you give the car back if you lose your job. Now it’s Toll Brothers, offering to make the monthly payments.
The U.S. unemployment rate -- now at 7.6 percent, the highest in more than 16 years -- is expected hit a peak of 9 percent this year, according to the latest survey by the National Association for Business Economics to be released Monday.
An awful lot of you disagreed with my post yesterday that real estate investors should be included in the bailout and should not be reviled. I want to follow up with a little clarification of my point.
Friday: Bank nationalization is the big topic du jour. Everyone seems to dislike the idea, but more and more analysts are begrudgingly calling nationalization the inevitable next move in the financial crisis. UBS widened its tax probe; a survey of U.S. homeowners showed more depreciation; and gold rose over $1,000 on investors' flight to safety. CNBC heard from experts who said the U.S. dollar will emerge as the ultimate safe haven; and Citigroup and Bank of America will indeed survive.
Billionaire investor Wilbur Ross, chairman and CEO of WL Ross & Co., shared his insight on Obama's economic plans, the SEC, the housing market and more with CNBC.
I’d like to know when exactly, on what day in particular as the housing market crashed down around us, that everyone decided the real estate investor was the villain?
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
The scale of Europe’s recession could be as bad as the decade-long slump suffered by Japan during the 1990s, Marino Valensise, chief investment officer of Barings, told CNBC.com.
The Obama administration's housing plans help struggling homeowners and provide incentives to loan servicers to rewrite mortgages, JP Morgan Chase CEO Jamie Dimon said.
The Obama housing plan is aimed at “rescuing families who played by the rules and acted responsibly…it will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans.” Well here’s the problem: the rules have changed.
FOMC participants are beginning to doubt the possibility of an economic turnaround in 2009, agreeing that the best case scenario would be for an extremely slow, and potentially delayed, turnaround starting late this year.
Below are the minutes released by the Federal Open Market Committee after its Jan. 27-28 meeting:
Tuesday: President Obama signed the $787 billion economic stimulus bill into law, as governments around the world consider their own actions. But global markets plunged on fears of a deepening recession; Chrysler asked the U.S. for $2 billion more in loans and General Motors is widely expected to follow suit. Investors are fleeing to bonds and gold-backed securities. CNBC heard from experts who warned that the March "bear market bull" won't happen — but that we are, indeed, in a "bottoming process."
The National Association of Home Builders today reported in its monthly sentiment survey that while overall builder confidence in the housing market remained near record lows, builders did see an increase in buyer traffic in February.
As precious few details emerge from the Treasury department on the $50 billion housing rescue plan, the big banks are temporarily halting foreclosures.
A new report from online foreclosure sale site, RealtyTrac, shows a 10 percent decrease in foreclosures from the previous month. Foreclosures are still up 18 percent from January of 2008. Good news, no? No.
Yesterday I blogged about a comment Citigroup CEO Vikram Pandit said during his testimony before the House Financial Services Committee. He was bemoaning the fact that troubled borrowers don’t attempt to contact their lenders.
I'm on Capitol Hill today at the greatest political theater imaginable—sorry the House Financial Services Committee hearing with the CEOs of eight major banks, from Citi to JP Morgan, Bank of America to Goldman Sachs.
Paul McCulley, managing director of Pimco, says he is looking for more details on the bank rescue plan than Treasury Secretary Timothy Geithner's is willing to provide.
Treasury Secretary Tim Geithner defended his newly announced financial bailout plan, telling CNBC that "the financial crisis is enormously complicated" and will take time to resolve.