The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.» Read More
Moving with remarkable speed, the Democratic-controlled U.S. House of Representatives approved $819 billion in spending increases and tax cuts at the heart of President Barack Obama's economic recovery program.
Obama used his talks with business leaders to keep up a lobbying campaign for passage of his economic plan, which could be the signature domestic initiative of his first term as he struggles to deal with the worst financial crisis in decades.
President Obama is moving quickly to act on the environmental promises that were a centerpiece of his campaign. But tackling global warming will be far more difficult — and more costly — than the new emissions standards for automobiles he ordered with the stroke of a pen on Monday, the New York Times reports.
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.
I continue to be concerned over this effectiveness of this spending plan and the timing of the stimulus, says Andrew Busch.
The last thing we need is another master of the universe who feels like the rules of the moral code do not apply to him, says Jerry Bowyer.
With rumors swirling over a nationalization of Citigroup and serious questions being raised about the Geithner nomination, the US is in for a tough weekend, says Andrew Busch.
Team Obama has gotten its way on the Tim Geithner nomination for Treasury Secretary - but the Democrats may rue the day, since Geithner’s lack of character and truth-telling will surely take its toll and sully President Obama’s new era of responsibility.
The House hopes to vote next week on the $825 billion package sought by President Barack Obama to help the struggling economy, House Speaker Nancy Pelosi said Thursday.
Today is an historic day for the United States as we inaugurate our 44th president Barack Hussein Obama. To say that the world holds it's collective breath today is an understatement.
Obama has offered an $800 billion package, with plenty of infrastructure spending that alleges to create three million jobs. Nobody really believes infrastructure spending will end the recession or create permanent new jobs. However, it’s interesting just how much the Obama plan has changed since the election.
As Congress comes back from vacation and starts a new session with new members, the first task is the stimulus plan. While President-elect Obama had hoped for a bill to sign by his inauguration, the political wheels are unable to spin fast enough to produce a document until mid-February.
"Karnac the Magnificent" I am not. Heck, for weeks I've been predicting Congress would ultimately come up with a bailout for the Big 3. So after the Senate shot down the aid package last night, it's no wonder my wife said to me, "Gee Einstein, guess you were wrong about what would happen on Capitol Hill."
The automakers' bailout will not boost Wall Street as investors are unlikely to see advantages in subsidies granted to "dinosaurs," Hugh Hendry, chief investment officer and partner at Eclectica told CNBC.
At his news conference this morning, where he introduced New Mexico Gov. Bill Richardson as Commerce-secretary designate, President-elect Obama refused to play his hand on the Detroit/GM bailout story. That tells me he’s aware that the country is getting fed up with the thought of bailout nation.
After watching the dysfunctional, bickering Congress and a Bush Administration that looks out of gas, there are finally legitimate reasons for optimism coming from Washington—and when was the last time you heard that?
As Democrats celebrate winning the White House and gains in Congress, the victory is rippling through the $11 trillion mutual fund industry in anticipation of reforms to retirement plans that could hurt earnings.
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.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/chandler_marc_100.jpg110010055lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse It is difficult to detect a clear market reaction to the US electoral results. The US dollar is broadly firmer, but after yesterday's big setback, it seems largely technical in nature.
While the celebrating started in Chicago and elsewhere, here in the ballroom at McCain headquarters the crowd wasn't aware that the major networks had declared Barack Obama the next President.