The compromise emerging on winding down mortgage giants Fannie Mae and Freddie Mac is a "Goldilocks deal," Sen. Bob Corker tells CNBC.» Read More
Former Senator Tom Daschle has withdrawn his name for Secretary of Health and Human Services. The action comes after Daschle admitted failure to pay past taxes.
Companies are cutting jobs by the tens of thousands. State and local governments are penny-pinching, too. So what about Uncle Sam?
Wednesday night’s House tally on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Officials from the Obama administration are holding around the clock meetings with senior Wall Street executives on how to create a new government bank to buy bad assets from major financial firms, people with direct knowledge of the talks tell CNBC .
Last night’s House vote on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Vice President Joseph Biden said in an interview on CNBC, that "all alternatives" are under consideration to stabilize the shattered banking system if the rescue fund is not adequate.
President Barack Obama will keep seeking bipartisan support in Congress despite being rebuffed by House Republicans who voted against a $825 billion economic stimulus package, his spokesman said Thursday.
Estimating how effective the huge program of tax cuts and spending will be in getting America’s economic engines humming again is a far more complex calculation requiring almost line-by-line scrutiny of the 647-page bill, lawmakers, the New York Times reports.
The New Deal was actually a combination of socialism and cartelization of industry with price controls and failed to stimulate growth and helped plunge the economy into the "Depression within a Depression" in 1937, says Andrew Busch.
The Fed was very gloomy in its Open Market Committee statement today. It suggested a gradual recovery could begin later this year, although there are plenty of downside risks.
The longer Congress deliberates, the worse things get and the harder they become to fix. That means, all else equal, every day we wait, the stimulus plan becomes worse.
President Barack Obama's $825 billion package is headed toward passing in a sharply divided House of Representatives on Wednesday.
I asked the questions, and you told me in no uncertain terms what you think the President should do with the auto makers. Your reasons for each answer varied, and there were some you disagreed on more than others. With that said, let me give you a sense of some answers.
I know many of you think I'm the angel of housing doom, but we need to face some cold hard facts. One month-to-month increase in sales, percentage-wise, from a huge drop the previous month, means absolutely nothing.
President Barack Obama visits Capitol Hill Tuesday to try to build momentum for an $825 billion package he says is urgently needed to keep the U.S. economy from sinking into an even deeper recession.
Since Geithner is something of a wounded warrior from the tax non-payment controversy, Team Obama’s economic policy is shifting toward a Larry Summers power-center right now.
You know what's worse than finding out that Citigroup is buying a $50 million top-of-the-line corporate jet? Finding out that Citi actually owns a whole subsidiary called CitiFlight that manages its fleet of corporate jets.
I continue to be concerned over this effectiveness of this spending plan and the timing of the stimulus, says Andrew Busch.
Officials say they will make wide-ranging changes, including stricter federal rules for hedge funds, credit rating agencies and mortgage brokers, and greater oversight of the complex financial instruments that contributed to the economic crisis.
President Obama on Friday stepped squarely into the fractious effort in Congress to assemble an $825 billion economic recovery package, seeking to quell criticism from both parties and to retain leadership on an initiative that could define his term.
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