Economics Stream 11/20/08
Auto Bailout Senate Hearings Big 3 CEOs Beg For Money
The leaders of the two houses of Congress were speaking after four senators had announced agreement on a bipartisan $25bn bail-out package.
No agreement for US car bail-out
The leaders of the two houses of Congress were speaking after four senators had announced agreement on a bipartisan $25bn bail-out package.
Stocks fall further after jobless claims jump
NEW YORK (AP) — Wall Street was unnerved after new claims for unemployment benefits climbed to a 16-year high.
Economics Stream 11/18/08
U.S. Stocks Drop, Indexes Fall Below Lowest Closes Since 2003
Nov. 18 (Bloomberg) -- U.S. stocks slid, sending benchmark indexes below their lowest closing level since 2003, on a record slump in homebuilder confidence and growing concern banks will report more losses.
Paulson: Rescue Action Is Working
NY Times - Mr. Paulson and Federal Reserve Chairman Ben Bernanke defended their management of the bailout program on Capitol Hill, just one week after the administration officially abandoned its original rescue strategy of buying rotten assets from financial institutions.
Lawmakers Renew Call for More Help for Homeowners
At a hearing on Tuesday morning of the House Committee on Financial Services, several members expressed dismay at the prospect of a continuing or even accelerating avalanche of foreclosures, despite the commitment of hundreds of billions of dollars to the broadbailout program being put into effect by the Bush administration.
Economics Stream 11/17/08
More Americans slipping into bankruptcy
The deep troubles of the U.S. economy are pushing a growing number of already struggling Americans into bankruptcy, often with far more debt than those who filed in previous downturns.
AIG to Pay Millions To Top Workers
American International Group plans to pay out $503 million in deferred compensation to some of its top employees, saying it must tap the funds to keep valuable workers from exiting the troubled insurance giant.
If Detroit Falls, Foreign Makers Could Be Buffer
The failure of one or more of Detroit’s Big Three automakers would put a huge initial dent in American manufacturing, but in time foreign car companies would pick up the slack by stepping up production in their plants here, many industry experts and economists say.
