Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
House Financial Services Committee says Pelosi press release had an error in the GSE limits. It would NOT be $625,000 blanket limit, but what Barney Frank had been advocating earlier: loan limits for GSEs AND FHA would be 125 percent of the local median home price to a maximum cap of $730,000.
I woke up Wednesday morning in Washington DC, where economic crisis, which in turn means political crisis, was in the air. Fed Chairman Bernanke had cut rates the day before and helped calm financial markets. But the White House and Congress wanted to do more. Republican and Democratic leaders, who normally have guns drawn on each other, were huddling behind closed door.
Congressional leaders have a tentative deal for a bipartisan economic stimulus package that could move swiftly through Congress. What's in it and what's out?
Jack Welch, former chairman and chief executive of General Electric, grilled presidential candidates Barack Obama and Mitt Romney about their economic and business policies. The author of "Winning" and "Straight from the Gut," also offered his own "checklist" for America's next chief executive.
The turmoil in the mortgage markets has incited a wave of legal tangles, as homeowners are suing lenders, lenders are suing banks, banks are suing loan specialists. And investors are suing everyone.
If the market got what they wanted with a 75 bp cut by the Fed, why hasn't there been a stronger reaction? Futures initially rallied 40 points, but have fallen back again. There's two separate issues here:
I've been with CNBC since 1990, and have lived through and reported several financial crises. Each time, the economy recovered, but each one was a little different. A brief synopsis of three of these crises and what we learned.
Senator Hillary Rodham Clinton won the vote in the Nevada Democratic caucuses on Saturday, giving her a second consecutive victory in what is shaping up as a protracted battle with Senator Barack Obama.
With his victory in South Carolina on Saturday, Senator John McCain of Arizona has accomplished what no other Republican presidential candidate has been able to do this year: he has captured two competitive contests. Not incidentally, this one was in the state that effectively sank his campaign in 2000.
Bidding to seize control of the accelerating debate over economic stimulus, former Massachusetts Gov. Mitt Romney is proposing a package with something for everyone. In an interview this afternoon, Mr. Romney said he will propose:
I blogged recently that a spokesperson for the House Energy and Commerce Committee had told me a decision could be made by the end of this week regarding the Dendreon saga.
We’re talking today about what will get buyers back into the market, especially when all the so-called experts we put on the air say that prices are going to continue to fall through the rest of 2008 in the bulk of the nation’s housing markets.
If you are wondering why the markets are weak, you cannot blame it all on Mr. Bernanke's somewhat downbeat testimony. The initial comments from Bernanke, on top of a very poor Philly Fed, down 20.1, the lowest since October 2001, set the tone early on.
Uh, no, you must mean the other bald guy who's always around: desk traders on the Street are cracking up over this faux-pas by Congresswoman Marcy Kaptur during an exchange with Fed Chairman Ben Bernanke:
A stimulus package is a big topic on the Street today after House Majority leader Steny Hoyer said a stimulus package could be law within a month. Senator Charles Schumer, speaking with our Erin Burnett, said it could involve:
The convincing victory by Mitt Romney in the Michigan primary on Tuesday means three very different states — with dissimilar electorates driven by distinctive sets of priorities — have embraced three separate candidates in search of someone who can lead the party into a tough election and beyond President Bush.
Mitt Romney scored a breakthrough win in the Michigan primary on Tuesday, reviving his struggling campaign, halting rival John McCain's momentum and further scrambling a chaotic Republican presidential race with no clear front-runner.
Received political wisdom is running smack into economic reality. It’s not yet clear which force will prove more powerful. For presidential contenders, the collision takes place in Michigan, Nevada and South Carolina.
Four Wall Street firms have received subpoenas from US Senate investigators who are examining whether the firms improperly structured transactions to help hedge funds avoid dividend taxes, The Wall Street Journal reported on its website.