Shots were fired in Crimea to warn off an unarmed international team of monitors and at a Ukrainian observation plane, as the standoff between occupying Russian forces and besieged Ukrainian troops intensified.» Read More
What does gridlock in Washington mean, to business and to everyone else? It means avoiding the sacred cows of both parties even if that waters down whatever action government takes. It means least-common-denominator solutions--or half-solutions--to whatever problem is on the table at the time.
Today we saw a fine display of presidential leadership on an economic problem--the kind we would have expected from President Bill Clinton, not President George W. Bush. Yes, the administration is avoiding the "b" word, as in "bailout." And yes, in theory the new mortgage terms for homeowners facing upward resets represent a "voluntary" agreement by their creditors.
I went on "The Call" with news from a Lehman Bros. report suggesting that the housing downturn will be worse in California than the rest of the country (duh), and that it will be worse than the downturn of the early '90s (uh-oh).
While many of you were reading the morning blogs, Treasury Secretary Henry Paulson was up on Capitol Hill, trying to sell his “teaser freezer” plan to House Republicans. He didn’t give a lot more details than we already know, but the common leakage out there is that it will be a five year freeze on subprime mortgages only for those who can currently pay their mortgages but can’t when the rate resets.
"Wall Street helped create the foreclosure crisis, and Wall Street needs to help solve it," presidential hopeful Hillary Clinton said Wednesday.
The Internal Revenue Service is looking hard at delaying the start of its filing season, set to kick off on Jan. 14, if Congress fails to pass legislation in the next two weeks. At issue is how to handle what could be a dramatic increase in the number of people facing a higher alternative minimum tax.
Stocks, particularly financials, rose today for the fourth day in a row. Is this the bottom of the market? It's not clear, but the signs are more auspicious than they have been in a while. consider: 1--economic news this week, for the most part, has been poor, giving the Fed cover to lower rates.
While political reporters like me are largely focused on the 2008 presidential race, our dysfunctional governmental apparatus in Washington continues laboring, however haltingly, in search of some tangible accomplishments. And some of them would have significant impact on Wall Street and the business community more broadly.
Senator Herb Kohl (D-Wisconsin), the Chairman of the Senate's Special Committee on Aging, has made public a copy of a letter he recently sent to Genentech's President of Product Development, Dr. Susan Desmond-Hellmann--a frequent guest on CNBC--regarding the company's new policy on the use of the eye drug Lucentis.
The heat is on for presidential hopefuls with only 37 days until the Iowa caucus. But while some Democrats and Republicans are baring their fangs, one candidate asks why everyone can’t just get along.
In early election battlegrounds like Iowa and New Hampshire, Sen. Hillary Clinton and other presidential candidates are running more television ads during the holiday shopping season, when retailers want to promote sales.
A slew of responses to my post reprinting questions that New York Democratic Senator Chuck Schumer sent Countrywide Chairman and CEO Angelo Mozilo. Most responses centered on why the company doesn't send 1099 forms to independent brokers.
As all sides start piling on the beleaguered mortgage not-so-giant-anymore, I've received a letter that Democratic New York Senator Charles Schumer wrote Countrywide Chairman and CEO Angelo Mozilo after the two met in September. Sen. Schumer wants answers, including documentation to back up what he claims Mozilo told him in their meeting.
Journalists in Washington spend most of their time focusing on warfare between Democrats and Republicans. There's a good reason for that: in the dysfunctional capital city of 2007, warfare is what they do best.
A U.S. Treasury report on ways to cut corporate taxes will include discussion of a national sales tax, a senior Treasury official told CNBC.
Warren Buffett's high-profile visit to Washington last week is generating some criticism from some of those opposed to his "Tax the Rich" campaign. Here's a sampling.
Check out this web-only video clip showing some behind the scenes shots after today's appearance by Warren Buffett before the Senate Finance Committee, including a long walk down the hallway and an elevator that "doesn't stop for billionaires."
This is live real-time blog coverage of Warren Buffett's appearance before the Senate Finance Committee for a hearing on estate taxes.
Warren Buffett has arrived here in Room 215 of the Dirksen Senate Office Building, ready for his appearance a little later this morning before the Senate Finance Committee. The guards are saying a big crowd is expected. No surprise when Buffett's involved.
1st paragraph of story should go here