TOKYO, July 3- Japanese government bond prices firmed on Friday, tracking firmer Treasuries after a disappointing U.S. employment report raised doubts about whether U.S. interest rates would rise this year. Volume was thin due to caution ahead of Greece's referendum on Sunday on its bailout conditions, as well as a U.S. market holiday on Friday to observe...» Read More
Tuesday: Fed Chairman Ben Bernanke defended the AIG bailout, saying the alternative would've been a disaster. Treasury Secretary Tom Geithner defended the Obama Administration's plan to buttress and stimulate the U.S. economy. Auto sales plummeted; Citigroup said it'll lower some mortgage payments; and subsidiaries of Warren Buffett's Berkshire Hathaway announced job cuts. CNBC heard from experts who said the U.S. economy is in a depression — but the next move is an upside jump.
Friday: General Electric (CNBC's parent company) said it'll slash its quarterly dividend 68 percent, saving $9 billion annually. The U.S. agreed to boost its stake in Citigroup to as much as 36 percent. U.S. GDP data was sharply revised downward, with economic loss at 6.2 percent. Experts told CNBC that the market is resisting scary talk from President Obama and Fed Chairman Bernanke — but the recession's end is nowhere in sight.
We all knew President Obama's budget would not be easy to swallow, at least for those earning over $250,000 a year, but we also know that in these incredible economic times, a lot of us would have to take a bullet for the greater good.
In all the arguments over the proposal to allow bankruptcy judges to modify home loans, a.k.a. the bankruptcy “cramdown,” we seem to be losing sight of some simple basics involving foreclosure, bankruptcy and credit.
Wednesday: As the state of financials continues to worry the markets, Fed Chairman Ben Bernanke said the U.S. has no plans to nationalize Citigroup. Wealthy Americans are suing UBS to keep their names secret (as a $31 billion UBS order went wrong) and Congress is considering a housing bill that'd let judges erase mortgage debt. Experts told CNBC that America needs more infrastructure in the stimulus bill — and that there won't be a recovery until housing improves.
U.S. banking regulators announced Wednesday that the "stress test" program on banks with more than $100 billion in assets will be completed by no later than April, CNBC has learned.
I always find that the most intriguing nuggets from the monthly Realtors report come not in the headline numbers but the historical analysis section.
Every now and then we hear a comment from a senior government official, offhand though it may have been, that really strikes at the heart of the current state of affairs in housing. Today it was Fed Chairman Ben Bernanke.
Tuesday: Fed Chairman Ben Bernanke warned the "severe" U.S. recession may drag into 2010 unless the government succeeds in stabilizing the banking system and financial markets. Debate continues on bank "nationalization," with Bank of America insisting it won't need a bigger U.S. stake; and analysts wondering if Citigroup actually needs the government to pick up more than 40 percent. Experts told CNBC that fears of nationalization are overdone — and we're now entering the epicenter of the recession.
The next economic bubble is on its way—if it's not already here, analysts believe. The problem is, there's no clear consensus on what it will be or when it will hit.
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.