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
As we watch the TARP support unravel in an ugly way on Capitol Hill, the situation is closely resembling the core structure of every successful television show from "House" to "Baywatch." Let's run through this 4 act comedy/drama.
With just hours to go, Americans waited for word on whether John McCain would show up for Friday's scheduled debate against Barack Obama, a widely anticipated showdown that has been cast in doubt by U.S. financial chaos and extraordinary political maneuvering.
Not surprisingly, Americans are still down on the economy, according to the latest CNBC survey, with 93 percent of respondents describing it as poor or fair. But, in light of the Wall Street problems on the front page, there are signs that sentiment has bottomed. Nowhere is that more apparent than the huge jump in expectations that the economy will get on track in the next year.
The economic crisis and raw politics threatened to derail the first presidential debate as John McCain challenged Barack Obama to delay the Friday forum and join forces to help Washington fix the financial mess. Obama rebuffed his GOP rival, saying the next president needs to "deal with more than one thing at once."
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.
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.
Republican presidential candidate John McCain on Tuesday called for a high-level commission to study the current economic crisis and claimed that a corrupt and excessive Wall Street had betrayed American workers.
For the past year the ongoing crisis in the housing and credit markets has set a gloomy backdrop for the 2008 presidential race, fueling voters' anxieties about the economy and desire for change.
An independent watchdog group says that Republican John McCain's campaign violated a pledge not to air any negative TV ads on the anniversary of the Sept. 11 terrorist attacks.
Then there’s this lead story in the Wall Street Journal: “Palin Lifts McCain’s Support.” A WSJ/NBC poll now has the presidential race even, and it’s the Palin effect that explains the shift.
As job losses in the United States have leaped, a second economic stimulus package has become “warranted and necessary,” House Majority Leader Rep. Steny Hoyer (D-Md.) told CNBC Monday.
John McCain and Sarah Palin criticized Democrat Barack Obama over the amount of money he has requested for his home state of Illinois, even though Alaska under Palin's leadership has asked Washington for 10 times more money per citizen for pet projects.
A bad jobs number on Friday could provoke more worries about the economy, and give the Democrats more ammunition against the GOP.
On CNBC last night Jack Welch, GE’s CEO from that firm’s salad days in the ’80s and ’90s, pointed out the dangers of a three-house Democratic sweep. He says it’s dangerous for both the stock market and the economy.
Senator Hillary Rodham Clinton defeated Senator Barack Obama in the Ohio and Texas primaries on Tuesday, ending a string of defeats and allowing her to soldier on in a Democratic presidential nomination race that now seems unlikely to end any time soon.
Republican John McCain, whose running mate disclosed that her unmarried 17-year-old daughter is pregnant, has opposed spending federal money on teen-pregnancy prevention programs.
Republicans staged a subdued opening to their storm-shadowed national convention on Monday, seeking aid for the Gulf Coast victims of Hurricane Gustav as well as support to send John McCain to the White House
John McCain tore up the script for his Republican National Convention on Sunday, ordering the cancellation of all but essential opening-day activities as Hurricane Gustav churned toward New Orleans.