It took General Motors and NHTSA nearly a decade to recall 1.6 million faulty GM vehicles. Rep. Tim Murphy, (R-PA), discusses the Energy & Commerce Committee's investigation into the slow recall.» Read More
As President-elect Barack Obama rushes from secret job interviews with ex-primary rivals, to briefings on the global financial crisis, to discussions of saving the U.S. auto industry, the post-election period may feel frenetic.
I want to talk about anger. Anger may just tank the TARP. It’s everywhere, from the measly pages of my blog, to the hallowed halls of Capitol Hill. The TARP money isn’t going directly to bail out the housing market, and let’s just say a lot of folks are PO’d.
For better or worse, the CEOs of GM, Ford, and Chrysler have bought into the idea that this "spinning" is the way to win over the public and law makers. They are no doubt being told that this is the way to stop people from believing Detroit brought many of these problems on themselves.
Democratic congressional leaders plan to begin work next week on a financial bailout for the troubled U.S. auto industry.
Federal regulators are expected to release a memorandum of understanding as early as Friday outlining their plans to share information about the credit default swap market, according to a person close to the situation.
So here I am on Capitol Hill covering a hearing at the House Financial Services Committee (starring Chairman Barney Frank D-MA), entitled Private Sector Cooperation with Mortgage Modifications—Ensuring That Investors, Servicers, and Lenders Provide Real Help for Troubled Homeowners.
With all the talk about bailing out Detroit's auto makers, there is one part of the equation people seem to gloss over. What will it take to get people buying cars/trucks/SUVs again?
A coalition of 200 businesses and trade groups—including some of the biggest companies in the world—is asking Congress for relief from a two-year-old federal law requiring them to more fully fund their pension plans.
The U.S. dollar rallied to a two-week high against a basket of currencies Tuesday as worries about a deteriorating global economy prompted investors to shun riskier assets and flock to the safety of the greenback.
President-elect Barack Obama is steering clear of this weekend's emergency global financial summit in Washington, a decision that gives him distance from his unpopular predecessor's policies and avoids any appearance of upstaging the current president.
The struggling auto industry was thrust into the middle of a political standoff between the White House and Democrats on Monday as President-elect Barack Obama urged President Bush in a meeting at the White House to support immediate emergency aid.
The U.S. dollar fell against the euro Monday as news of a large economic stimulus package from China made traders more willing to take on risk.
President-elect Barack Obama will not make any Cabinet announcements this week, a spokeswoman said Monday.
The tensions and their increasingly public airing provide a revealing coda to the ill-fated McCain-Palin ticket, hinting at the mounting turmoil of a campaign that was described even by many Republicans as incoherent, negative and badly run.
Democrats won a number of key seats in building a larger and more formidable majority in Congress.
Barney Frank told us it was coming when he said there are a lot of rich people out there to tax. So higher taxes are coming and I think soon. The Bush tax cuts expire in 2010 but I think the Obama administration will try to move the increase to 2009 and early 2009 at that.
President-elect Barack Obama has proposed an ambitious plan to reform U.S. health care and get insurance for at least some of the 46 million Americans who now lack it.
U.S. President-elect Barack Obama has pledged to move ahead with the Doha round of world trade talks and to work to strengthen labor and environmental protections in the North American Free Trade Agreement.
U.S. President-elect Barack Obama has no time to waste. Two wars and a deepening financial crisis have raised expectations that he will quickly announce picks for senior government jobs after winning Tuesday's presidential election.
Barack Obama claimed a decisive victory in Tuesday's presidential election, and CNBC asked some big-name financial experts what this means for the market and the economy.
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