The Census Bureau missed a House committee's deadline to provide documents tied to the alleged falsification of unemployment data, the New York Post reported.» Read More
Dateline NBC aired portions tonight (Sunday) of an interview with Warren Buffett by Tom Brokaw. Buffett tells Brokaw that Barack Obama is the right "commander in chief for the economy" but warns that no one should expect a "miracle" turnaround in the next few months. The two men also covered many other topics, including Obama's leadership style, excessive executive compensation, the challenges facing Detroit's automakers, China, and the role of greed in good times and bad. This is the complete transcript of that interview, as provided by NBC News.
If the US government wants to clean up these balance sheets, then they need to do so quickly and get out of the way by allowing the scrubbed up financial entities to sink or swim on their own.
Less than a month from today, GM and Chrysler will have to give the federal government an update on how they are doing in restructuring their companies.
Today’s consumer price index dropped for the fifth consecutive month. This is part of the unwinding of the great oil shock that was an important, if overlooked, factor in the current economic downturn.
House Republican Leader John Boehner told me last night that the GOP will come up with an alternative economic plan. Will it be a choice, not an echo?
Given how things went on the Floor of the House yesterday (not so well for Chairman Barney Frank and his bill to put specific conditions on the remaining TARP money), it is still uncertain what exactly the remaining $350 billion of TARP funds will do to turn the housing market around.
Though the Senate has questions about Treasury nominee Tim Geithner's own fiscal house, his confirmation hearing will focus on the nation’s financial situation.
If you thought the auto industry and economy might be close to bottoming out and getting some traction, think again. The world's two largest auto makers are sending fresh signs that things will remain as bad, if not worse in 2009.
Like everyone in America yesterday, I watched intently as US Airways Flight 1549 crew and passengers were rescued from the frigid waters of the Hudson River. It is truly a miracle that so many ferries were nearby and all got out with nary a bump or bruise. A similar event took place yesterday in the markets.
I noted earlier this week that one of the reasons the market has been drifting lower recently was the Street was in the process of lowering expectations for the second half of 2009 and that's what B of A CEO Ken Lewis essentially did this morning.
If there was ever a time to take the plunge and by that new, or at least newer car, this could be it. Congress is considering a "Cash for Clunkers" bill and in my opinion this is the ultimate win/win for buyers, dealers, and the auto makers.
President-elect Barack Obama approaches his inauguration with exceptional goodwill from the American people, but faces some political challenges in selling his economic stimulus package.
Stocks are swooning again — down seven straight days — and threatening to break below a November 20 bottom. Part of this stems from bad economic data, including today’s announced plunge in December retail sales. This of course follows last Friday’s outsized drop in payroll employment.
The top Republican on the Senate Finance Committee said Wednesday the panel delayed a hearing on the nomination of Timothy Geithner to head the U.S. Treasury to give senators more time to reflect on Geithner's failure to pay payroll taxes.
It was hairy for a while. After four days of declines in financials, we looked to be making it five down days in a row, but financials turned around in the middle of the day.
President-elect Barack Obama asked Democratic senators Tuesday not to stand in the way of an additional $350 billion in bailout funds, calling the money essential to helping the ailing economy.
Stocks have rallied off their lows late in the day, partly on word that Senate Majority Leader Reid believes he has the necessary votes to approve the additional $350 billion of the TARP plan.
As the countdown to the Obama administration falls into single digit days, the rhetoric over how to reverse the housing crisis is heating up, and much of the chatter is focusing on bankruptcy and “walkaways”. All of this leads me to ask the question, which is worse to your financial future: personal bankruptcy or foreclosure?
As President Bush gets set to leave office, President-elect Obama has one more important task for him to complete. Obama and his Midwest Combine are requesting that the outgoing Republican leader send a message to Congress for the remaining $350 billion in TARP funds.
Citigroup became the first major bank to support a controversial plan to let bankruptcy judges alter mortgages in a effort to prevent more housing foreclosures.