Despite assurances that the takeover of Fannie Mae and Freddie Mac would be temporary, the giant mortgage companies will most likely never fully return to private hands, the New York Times reports.
This may be the best time to get the deal you want on a new car or truck. In fact, if you can stomach the idea of taking on an auto loan in this economy, dealers will bend over backwards to get you in the new ride you want.
General Motors subsidiary Opel needs $7 billion of aid, Vice Chairman of General Motors, Bob Lutz, told CNBC at the Geneva Motor Show.
General Motors expects weak sales in the US for February, which will be an "exceptionally weak" fleet month for automakers, GM's chief operating officer told CNBC.
Following are the day’s biggest winners and losers. Find out why shares of FTI Consulting and Becton, Dickinson popped while PNC Financial and Morgan Stanley dropped.
The Dow Jones Industrial Average hit its lowest level in 12 years, slipping below 7,000, then 6,900 and then 6,800, as another bailout of insurance giant AIG stirred fear about the stability of the financial system.
The Dow Industrials, Dow Transports, and Dow Utilities are all hitting multi-year lows now. While the Dow Industrials and Dow Transports have been closing at new lows for days, the Dow Utilities closed below its October low for the first time on Friday.
The drop in auto sales has created a glut of auto factories and turned niche brands into luxuries Detroits auto guys can no longer afford to hold.
The Dow Jones Industrial Average opened at its lowest level in 12 years, slipping below 7,000 as investors grew increasingly skittish over the state of the stock market amid the wave of government bailouts.
While January was a poor month for the markets overall, February turned out to be worse. Both the Dow Industrials & S&P 500 once again had their worst month since last October – a feat which they both achieved in January as well. Will March be any better?
Ford Motor executives met Friday with the Obama administration's auto industry task force but the company said it was not seeking emergency financial aid.
The credit crisis and downward spiral of the economy can be a drag. But put some pictures or music to it and it can be downright fun. Let’s turn that frown upside down! For your weekend viewing pleasure, a few artistic interpretations of the current hole we find ourselves in.
Fourth Quarter GDP, was revised down to -6.2%, the worst quarter since Q2 1980 when economic "growth" was -7.8%. The revision is a significant move from the -3.8% that was originally reported. Here is a breakdown of where the economy is shrinking most.
Following are the day’s biggest winners and losers. Find out why shares of Yahoo and IBM popped while General Motors and Merck dropped.
It was another down day on Wall Street as health-care stocks tanked amid worries that President Obama's budget will clamp industry profits.
CNBC has learned that despite the fact that Pontiac is the official car of the NCAA and the final games are being played in the city of GM's headquarters, the car company is not inviting anyone to watch the action from the luxury suites at The Palace at Auburn Hills.
Top GM executives are taking their pleas for billions in new loans to the administration's auto task force. Do you think we should bailout GM at any cost?
General Motors is open to an alternative viability plan, said Ray Young, the company’s CFO ahead of meetings between executives and U.S. Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers on Thursday.
Stocks shot up after investors cheered remarks from President Obama that the budget sets aside more money for banks if necessary.
As expected, General Motors posted horrendous 4th quarter numbers this morning with the company losing $9.6 Billion. For all of 2008 GM lost $30.9 Billion making it one of the worst years ever for the auto maker.