Obama urged Congress to pass his request for $3.7 billion in funds to address the influx of migrant children from Central America crossing the border.» Read More
The Securities and Exchange Commission has been revamping itself, buttressing enforcement efforts and taking a series of initiatives to protect investors in the wake of the financial crisis and massive Madoff fraud, the agency's chairman said Tuesday.
I thought I would be protected from having to pay for the barrage of spending programs that Congress has passed or is considering. After all, I was promised that I would not see my taxes go up even a nickel if I earned less than $250,000. Heck, I was even safe with the Biden revision to $200,000 as the definition of “rich”. But now I am beginning to see the con, the semantic dodge, the switch behind the curtain, writes William Dunkelberg.
Unemployment is likely to rise to 13 percent or higher and will weigh on the economy for several years, countering efforts to stabilize the banking industry, analyst Meredith Whitney told CNBC.
The Treasury Department is selling its financial stakes in bailed-out banks for one-third less than they're worth, potentially shorting taxpayers up to $2.7 billion, a bipartisan congressional watchdog said Friday.
President Barack Obama acknowledged the tough going for his health care overhaul in Congress but rejected the notion the legislation is doomed.
With bad home mortgages on the back burner, the big threat to the economy is now believed to be troubled credit card, commercial real estate and commercial industrial debt.
Warren Buffett is repeating his call for a second economic stimulus package, telling ABC News the first one passed earlier this year was excessively diluted by lawmakers' pet spending projects, like "half a tablet of Viagra mixed with candy."
Two-thirds of the country lives in large metropolitan areas, home to the nation’s worst traffic jams and some of its oldest roads and bridges. But cities and their surrounding regions are getting far less than two-thirds of federal transportation stimulus money.
Securities and Exchange Commission staffers are denying they "stood down" in their investigation of accused fraudster Allen Stanford, according to a Congressman who attended a closed-door briefing on the case this morning.
Decreasing speculation sounds great in theory, but the law of unintended consequences suggests in could lead to even greater volatility, writes Stephen Schork.
The business community is neither hiring, nor firing. Labor markets are frozen in regulatory amber; this will be a Jurassic Park recovery. How can we grow without more people working? The answer is: Instead of more people working, we'll get the same number of people to do more work.
Healthcare services stocks will remain volatile as reform measures proceed through Congress and the economy struggles, industry analyst Leerink Swan said in a research note.
I have long thought the oil market got ahead of itself. The recent strength in the price has been due more to the thought economic recovery was close at hand. As I have been writing, I think that the recovery will come, but not today.
The pace of the economic recovery heading into the fall—electric smooth or diesel rough—will determine whether Obama can prod Congress on the key features of his agenda with momentum or from a defensive crouch.
As the summer wears on and discontent grows, I expect calls will be louder and louder for additional stimulus from Congressional Democrats to put more Americans to work.
The administration isn't the only one that got flattened by the steamroller that has been our economy recently. Unemployment is at 9.5% and some of you might remember I had a bet with a Soleil director it would level at 8.5%. So much for my predictions.
After a month of brainstorming, the Senate Finance Committee seems poised to propose private-sector insurance cooperatives — instead of a new government health plan — as its primary mechanism for stoking competition and slowing the growth of medical costs.
Well, of one thing I am certain—fiscal drag will offset monetary stimulus, and the result will be a torpid economy—with high unemployment and anemic growth. Hopefully, the Senate will be able to muscle enough change in the pending legislation to marginalize the economic drain, but I am not optimistic about that.
The California legislature continues to deadlock over a solution to the state's budget crisis. Now Democrats are trying a unique, and potentially illegal, maneuver to break the stalemate.
The idea to scan books and make them available online is intriguing, and it seems could ultimately help a struggling industry. But the question remains whether it's dangerous to put one company in control of so much information.
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