"Swipe" fees imposed by the Senate's Durbin Amendment will pose a "double whammy" to small banks and consumers, ultimately hurting the US economy, Adam Frisch, Morgan Stanley Equity Research, told CNBC on Wednesday.
Dean Baker has provided a provocative and must-read response to the report of the Financial Crisis Inquiry Commission.
Twelve of the 13 most important U.S. financial firms were at the brink of failure at the height of the credit crisis in 2008, according to previously undisclosed remarks made by Federal Reserve Chairman Ben Bernanke in November 2009 to an investigative panel.
The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a Congressional inquiry. The New York Times reports.
Rising stock values not only have benefited investors but also have played a critical role in the economic recovery, former Federal Reserve Chairman Alan Greenspan told CNBC.
Sunspots are moving in direct correlation with activity in the markets and they are predicting a crisis in about three years, technical analyst Charles Nenner told CNBC Monday.
Faced with unusually sharp ideological attacks after its latest bid to stimulate the economy, the Federal Reserve now faces a challenge far removed from the conduct of monetary policy: how to defend itself in a hyperpartisan environment without becoming overtly political. The New York Times reports.
The US is pursuing a policy of weakening its currency which is driving up exchange rates in the rest of the world, according to Alan Greenspan, the former chairman of the Federal Reserve.
Strong investor demand for junk bonds has pushed the average price on such corporate debt to its highest level since June 2007, when companies could borrow with ease at the height of the credit boom, the Financial Times reports.
The Big Picture blogger is outraged that we think Fannie and Freddie played a central role in causing the financial crisis.
Money is flowing faster into bonds at this stage than did with the dotcom bubble of the late 1990s. But that might not be bad for Treasury investors.
It seems to me that the debate about the pending expiration of the Bush tax cuts boils down to a very difficult choice between two bad outcomes. Despite what some politicians would have us believe, extending the cuts will adversely affect a very bad deficit situation.
You can argue the deficit battle must wait until the economy is on more solid footing, but you cannot argue that the tax debate does not have significant impact on the deficit.
“In the late summer of 2008, as Lehman Brothers teetered at the edge, a bell tolled for Wall Street,” so writes Roger Lowenstein in his book, "THE END OF WALL STREET." The bell may have sounded, in 2008, but for those who were really listening, there were warning signs of a financial crisis long before the summer of 2008.
While tax rates might have some impact at the margin, I think hiring is driven primarily by the state of business. If a businessperson sees growing demand for his/her products or services and if that growing demand can only be satisfied by the addition of employees, then the businessperson will hire more employees. To not do so would allow the business to stagnate or would allow more aggressive competitors to take market share.
It's a bad time to repeal the Bush tax cuts. I used to agree, but now I’m not so sure. I’m not saying I disagree, just that I’m not so sure. I started to think about it more when I readthat Alan Greenspan supports the complete expiration of the Bush tax cuts.
Mr. Greenspan is wading into the most fierce economic policy debate in Washington — what to do with the tax cuts adopted, in large part because of his implicit backing, under President George W. Bush — with a position not only contrary to Republican orthodoxy, but decidedly to the left of President Obama.
The US economy is in the middle of a pause in a modest recovery that feels like a "quasi-recession," Alan Greenspan, the former chairman of the Federal Reserve, said Sunday.
Wall Street’s focus this week turns to second-quarter earnings announcements, and I can tell you that my contacts on the Street are worried.
Today and tomorrow, Maria Bartiromo will host CNBC’s Closing Bell live from Aspen Ideas Festival. Over the last 50 years, this gathering has become the place for global leaders to come and gather at the one of the world's most beautiful spots to discuss the most innovative ideas and the most pressing issues.