MID-DAY UPDATE: GM CEO Ed Whitacre stepping down...

Aug 12, 2010
... the company reports $1.3 billion in profits-- IPO to come Car dealers face higher demand with short supply New jobless claims rise again For...
Posted In: bailout, Banks, BP, China, consumer confidence, Dr. Seuss, Ed Whitacre, foreclosures, General Motors, GM, Godfather of Solar, Green Eggs and Ham, lost decade, mid-day update, TARP

TARP also bailed out foreign banks

Aug 12, 2010
U.S. taxpayers gave $300 billion to bail out U.S. banks, which ultimately helped rescue foreign banks in a globalized system.
Posted In: Banks

King openly gloomy about U.K.'s road to recovery

Aug 12, 2010
Bank of England governor Mervyn King told the public the U.K. faces a long, hard road back to full recovery. Critics also say King is being over-optimistic.
Posted In: Banks

Economists underwhelmed by Fed's new plan

Aug 11, 2010
The Federal Reserve plans to spend up to $30 billion a month on U.S. Treasury bonds in an effort to motivate the banks to lend. But this doesn't provide a huge incentive in an economy of $14 trillion.
Posted In: Banks

Fed may try quantitative easing to boost economy

Aug 10, 2010
There's speculation the Fed is going to try quantitative easing to fight economic doldrums. Nancy Marshall Genzer explains.
Posted In: Banks

FHA loans are about one-third of U.S. mortgages

Aug 6, 2010
Federal Housing Administration home loans used to be just a sliver of the nation's housing market, but now it's one-third. The FHA loans may have helped what would've been an even more stagnant housing market, but federal mortgages may not be sustainable.
Posted In: Banks, Housing

Euro banks telling same story as U.S. firms

Aug 4, 2010
Banks in Europe are reporting how well business is doing. The financial institutions seem to be telling the same story going around in the U.S., and there are indicators that recovery is underway.
Posted In: Banks

Geithner to 'lay out the path forward' in financial reform

Aug 2, 2010
In one of his first public appearances since reform passed, Treasury Secretary Tim Geithner will be touting the good the administration says the new financial reforms can do.
Posted In: Banks

Fed concerned about deflation

Jul 30, 2010
A new report from a regional Federal Reserve presidents says the Fed needs to keep an eye on decreasing prices.
Posted In: Banks

Paper shows that credit card users win at the register, not cash users

Jul 29, 2010
The Federal Reserve Bank of Boston released a paper that concluded people who spend cash at the register actually are giving money to people who use credit cards -- especially those with cashback rewards.
Posted In: Banks, Retail