Wednesday's sudden late reversal on Wall Street highlights just how conflicted investors are: on one hand, they want to see signs of an economic recovery. On the other, they're somewhat disturbed by the idea that the phasing out of easy money policies by the Federal Reserve might be sooner rather than later.
Paulson, Bernanke back on Capitol Hill to sell the bailout. Fed coordinates with Australian and Scandinavian central banks to keep global finance running. Goldman Sachs sells $5 billion in common shares.
"A weak dollar is boosting everything that's priced in dollars—boosting stocks, even bond prices and especially commodities," says one economist. "We've traded long-term growth for a short-term boost in nominal gains."
Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke head to Capitol Hill to sell the $700 billion bailout plan. Warren Buffett invests $5 billion in Goldman Sachs. WaMu talks to suitors about a takeover.
Treasury Secretary Timothy Geithner will deliver his message on financial reform Wednesday, according to a copy of his testimony obtained by CNBC.com. Read the testimony in the PDF linked to the story.
Treasury Secretary Timothy Geithner says he supports revisions to the administration's financial reform plan that were proposed by Rep. Barney Frank.
Policy-makers are expected to discuss ways to pull back massive provisions of cash to the economy in a way that preserves the recovery while preventing inflation
Euphoria fades Monday as the market digests previous days' events. Japan's Mitsubishi seeks a piece of Morgan Stanley—killing hopes for a Morgan/Wachovia merger. And NYSE adds 30 stocks to the "no short" list.
The Bush administration and Congress step up talks Sunday on an historic $700 billion bank bailout — racing the clock to stem further financial market turmoil.
Saturday begins another weekend of little rest for Wall Street or the U.S. government. A gigantic financial rescue plan is going to Congress. Democrats seek changes to the bill — including help for homeowners and a salary cap for CEOs. If the plan is approved, the government could purchase as much as $700 billion in mortgage-related assets from U.S.-headquartered institutions.
On Friday, the market rollercoaster continues — and seems to end up nearly where it began. Panic in funds parallels equities. FDIC's Bair warns of more bank failures. But the SEC's short-selling ban gives financials a big boost.
The Treasury plans to re-create the Resolution Trust Corporation. Calpers says it will no longer loan out shares of Goldman Sachs and Morgan Stanley to short sellers. Central banks worldwide announce plans to support money markets.
Treasury officials want to require the corporate owners of the nation’s 41 industrial banks to accept more rigorous regulation or be forced to sell or shut them down.
AIG makes a deal with the Fed for loans up to $85 billion in exchange for a 79.9 percent stake in the insurer. Barclays buys several Lehman businesses for $1.75 billion. WaMu is for sale. And the SEC announces rules against naked short selling.
On Tuesday, even "good" financials start out looking pretty bad: Goldman Sachs' earnings plunge and AIG scares investors again. But volatility makes the market hard to predict.
CNBC has confirmed that Citigroup has mentioned to Treasury officials a plan to unload some of the government's 34 percent stake in the company, according to people familiar with the matter.
On Monday, the weekend's turmoil starts taking its toll. Stocks fall sharply Monday on a triptych of Wall Street woe: Lehman Brothers' bankruptcy filing; Merrill Lynch's acquisition by Bank of America; and AIG's unprecedented request for short-term financing from the Federal Reserve.
When President Obama travels to Wall Street's Federal Hall on Monday, where the founders once argued bitterly over how much the government should control the national economy, he is likely to cast himself as a “reluctant shareholder” in America’s biggest industries and financial institutions.
The bulging US government debt can turn into an investment opportunity, legendary investor Jim Rogers, chairman of Rogers Holdings, told CNBC Monday.
The worst of the economic crisis is not over and a currency crisis can happen this year or the next year, because the problem of too much debt in the system has not been solved, legendary investor Jim Rogers told CNBC Monday.