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
The financial crisis roiling markets in the U.S. and around the world underscores the importance of taking a global perspective, former President Clinton said at the start of his summit of world leaders and celebrities.
It's not a question of whether a bill will pass. Rep. Frank has said that efforts are already underway to come up with a joint Senate-House bill to give the Treasury Department authority to buy mortgage assets.
That's what Mr. Bernanke said to Senator Schumer, who has been pressing both Mr. Bernanke and Treasury Secretary Paulson for some agreement that would provide a lesser amount (say $150 billion) initially, and then have the next administration vote on providing more funds.
Keep France and Soviet Style policies out of the rescue plan. Honestly. A clean bill as requested by Treasury man Henry Paulson, along with John McCain’s oversight board, can help fix the credit-crunch problem. It needn’t be this hard.
Warren Buffett tells CNBC he's making a $5 billion investment in Goldman Sachs because "the price was right, the terms were right, and the people were right." He also made it clear that he would not have bought anything right now, if he wasn't confident Washington will do the "rational" thing and approve the financial bailout proposal put forward by Treasury Secretary Henry Paulson.
Congress will act on the government's proposed $700 billion rescue plan for the nation's banking industry before the end of the week, though it likely will be different than what's on the table, Sen. Charles Schumer said Wednesday.
Speedy Congress approval for a $700 billion plan to bail out the U.S. banking system is paramount to avoid a meltdown of the markets, analysts told CNBC on Wednesday.
I just got off the phone with Ed Lazear (Chairman of the President's Council of Economic Advisors), and he made a good case for the severity of the crisis, esp. negative interest rate on t bills.
Here is the second part of guest blogger Clint Goodrich's take on what it's been like sitting in front of a computer screen trading during during these historic times.
I’m wondering exactly what’s going to precipitate that recovery? In order to answer that question I think you have to look at what’s currently wrong with housing, not what caused the housing recession or how far all the numbers have fallen.
The fire sale prices that financial institutions are being forced to use by mark-to-market requirements are significantly less than the hold-to-maturity price. Due to the uncertainty over pricing, private capital is unwilling to come in and buy.
The Bush administration's controversial financial bailout proposal may be getting a heavy dose of criticism today from angry lawmakers on Capitol Hill, but Warren Buffett tells us he wholeheartedly supports the plan. He told CNBC's Becky Quick over the weekend, "It's what I would do if I were there."
It's clear now that the bill will have clauses restricting executive compensation, partial ownership of some of the companies where there is significant purchasing of securities, and some kind of mortgage mitigation.
President Bush said Tuesday he is confident that Congress will reconcile differences and come together to pass a $700 billion bailout bill to deal with the financial meltdown that has shaken the global economy.
A proposal to fund $25 billion in low interest loans to the auto industry was included on Monday in draft legislation that could be considered by the U.S. Congress later this week.
Volatility with no volume. That's what we got today. The Dow swung in a 600 POINT RANGE, but volume was about half what it was at the end of last week.
Miracle of miracles! Congress appears to be moving quickly on the Treasury bill. Rep. Barney Frank said that Treasury was accepting an equity stake in companies as part of the plan.
Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it, reports the New York Times.
By now, either you’ve heard US Treasury Secretary Hank Paulson on the Sunday morning talk shows or you’ve read about what he has said on the US government’s bailout plan. There are tremendous issues with the plan as it charts a course distinctly different from what has been used in the past.
abstract goes here