‘Finance’ Archives
Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data
(CNSNews.com) - In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan. The U.S. Treasury Department divides the [...]
829 banks show up on FDIC “problem list”
WASHINGTON—More than a tenth of U.S. banks remain at risk of failure even as some industry indicators, including credit quality, show some nascent signs of revival. The Federal Deposit Insurance Corp. said Tuesday that 829 of the nation's roughly 7,800 banks were on its "problem list" at the end of June, up from 775 at the end of the first [...]
William Hurt To Star In HBO Financial Crisis Pic
Deadline.com Reports: HBO has set William Hurt to play Treasury Secretary Henry Paulson and Curtis Hanson to direct Too Big To Fail, a dissection of the 2008 financial crisis and the power brokers who decided the fate of the world's economy as the system teetered on collapse. Shooting begins in early fall. Peter Gould wrote the script, [...]
States are out of cash, and so are their lending programs
Many state programs that help small businesses get loans they need to survive or expand are in jeopardy, victims of the economic downturn and state budget gaps. The programs -- in dozens of states from Vermont to California -- cost relatively little to run, are remarkably successful and create jobs. Massachusetts' program has been [...]
In Striking Shift, Small Investors Flee Stock Market
Renewed economic uncertainty is testing Americans’ generation-long love affair with the stock market. Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to the Investment Company Institute, the mutual fund industry trade group. Now many are choosing [...]
Hoenig: Fed Needs To Raise Rates, End 0% Rate Policy
NEW YORK (Dow Jones)--The U.S. economy is recovering and the Federal Reserve needs to raise interest rates, lest it leave in place a policy that will only fuel future financial imbalances, Federal Reserve Bank of Kansas City President Thomas Hoenig said Friday. "We need to get off of the emergency rate of zero, move rates up slowly and [...]
Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down
Treasury Secretary Timothy Geithner acknowledged that it is still a "tough economy" for most Americans, and warned it's possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force. "When they see a little hope that there may be jobs out there, they start to come back in again. And [...]
Bernanke urges Congress to renew Bush tax cuts
Federal Reserve Chairman Ben Bernanke dropped a major bombshell on Democrats seeking massive new revenues to narrow the deficit, announcing Thursday that he favors preserving the Bush administration tax cuts to help a faltering U.S. economy. “In the short term I would believe that we ought to maintain a reasonable degree of fiscal [...]
Financial overhaul bill beats Republican filibuster
The most far-reaching overhaul of financial rules since the Great Depression moved to the verge of enactment Thursday as senators approved a key procedural measure that sets the stage for a final vote. Senators voted 60-38 to cut off debate on the sweeping legislation and are expected to hold a final vote later Thursday. Three Republicans -- [...]
Peter Schiff: Jobs report reveals the truth about recovery
Today's job report revealed continued weakness in the U.S. economy and provides clear evidence that prior efforts to stimulate with deficit spending, absurdly low interest rates, and a series of government programs designed to support the housing and automobile markets have failed to create any meaningful forward momentum. The report qualifies [...]
