President Obama is trying to turn his successful online political campaign into a movement. He's sent millions of e-mails to supporters, asking them to gather and talk about the economic stimulus bill in Congress. Steve Henn reports.
A new report says that throughout last year, even as the credit crisis took hold, banks were still extending credit — plenty of it. Ashley Milne-Tyte reports that, while the U.S. credit market has gotten smaller, you can't blame it all on the banks.
The Federal Reserve says it's going to keep extending its lifeline of cash to the banking system, indicating it's nowhere near weaning banks off emergency treatment. Bob Moon reports.
Citigroup unveiled plans to use $36.5 billion of the $45 billion it got in bailout money on lending. The bulk of the money will go towards mortgage loans. Nancy Marshall Genzer reports.
The European Union is attacking the "Buy American" clause in the U.S. economic stimulus plan. The clause seeks to ensure that only U.S.-made materials are used in projects funded under the bill, which foreign steel makers fear will lead to a loss in business. Stephen Beard reports.
Many banks are nervous about lending, making it difficult for homeowners to refinance their mortgages. A House committee is meeting today to see what can be done to keep homeowners near foreclosure in their homes. Shia Levitt reports.
The free market is a tough place. Only so many companies can be rescued by bailout funds, and the government's stimulus plan can't save everyone. Commentator Todd Buchholz says instead of trying to prevent failure, we should be looking for ways to ignite incentives, like tax cuts.
A government plan to buy up banks' troubled assets appears to be in the works. But how do you determine a price to sell those holdings when no one's really sure what they're worth? Auctions might work, as Jeremy Hobson reports.
Save or spend? Americans are getting mixed messages. Savings deposits are up just as we're being encouraged to spend to jump-start the economy. But the increase in savings could have dire economic consequences. Steve Henn reports.
Despite Barclays reports that it's doing just fine, Moody's has lowered its credit rating two notches. The British banking giant's involvement in the subprime crisis may have something to do with it. Stephen Beard reports.
