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U.S. Treasury Secretary Timothy Geithner on Wednesday extended the government's $700 billion financial bailout fund to October 2010, saying it was still needed for "significant challenges" in the economy.
President Obama is in Pennsylvania, talking about jobs and the economy.
President Barack Obama takes his defense of the economy on the road today and despite limited options due to big budget deficits, he's warming to the possibility of a job-boosting bill.
After taking billions in federal bailout dollars this time last year, New York City's Independent Budget Office said Wall Street was not only in the midst of a recovery, but will post an estimated $59 billion in profits this year. The same, however, cannot be said for just about every other sector of the local and national economy, as the middle and lower classes continue to struggle under a ...
Lawmakers are likely to vent frustration over the economy and bailout of the financial system Thursday at a Senate confirmation hearing for Federal Reserve chairman Ben Bernanke.
U.S. bailout program to end soon
Rep. Ken Calvert , R-Storage Units, minces no pie in his disdain for Democratic spendiness. From his Web site:"The Pelosi-controlled Congress is outspending the previous Administration four to one... Most of this spending -- the stimulus, the auto bailout, the mortgage cramdown - have been in an effort to help our ailing economy. Unfortunately, none (of) it has worked."
THE CLOSING BELL -- DOWN 19: The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks. NYSE, NASDAQ TODAY'S BUSINESS NEWS: » Geithner says $700B bailout program to end soon » Fed finds recovery gaining momentum » Dollar up as Fed sees recovery gaining » US trade chief turns to creating jobs ...
In the lead up to the financial crisis, Ben Bernanke was Sancho Panza to Greenspan's Quixote, gleefully touting banking deregulation while blind to the dangers of an $8 trillion housing bubble. He celebrated an economy where incomes of most Americans were declining, household debt was soaring, and inequality reached Gilded Age extremes. Once named Fed Chair, he chose not to exercise the ...
As the Obama administration considers how to approach the next phase of the $700 billion financial bailout, questions are being raised on Capitol Hill about whether it is helping the economy.
Corporate perspectives held sway in a discussion of health insurance reform and the automotive industry at Phi Chi Theta’s fifth annual economic symposium, “Our Economy Now,” last evening in the University of Michigan Museum of Art in front of nearly 225 people.
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