The disgraced head of Lehman Brothers, said he would wonder "until they put me in the ground" why the US government did not rescue the 158-year-old Wall Street firm and claimed regulators knew the full scale of its condition far before its
The director of the White House war on drugs said on Monday that Internet videos that show people getting high pose a dangerous threat to teenagers by encouraging them to use drugs and alcohol.
The number of Americans whose electricity or gas has been shut off for nonpayment of their bills is up sharply in many parts of the country as people struggle to cope with higher prices and a shaky economy.
New currency being secretly minted at Denver Mint, to replace US Dollar, Canadian Dollar and Mexican Peso.
The Fed could buy vast amounts of the unsecured short-term debt that companies rely on to finance their day-to-day activities. If this were to happen, the central bank would come closer than ever to lending directly to businesses.
Contrary to many comments, consumer and industrial loans actually increased in the latest week. Troubled giant banks have cut back on lending, but smaller banks have picked up the slack.
The Sandlers are seething over the skit. Anyone else smell a legal threat behind the disappearance of the vid? And what do the Sandlers do when they are not peddling subprime garbage? They are busy writing checks to leftist groups (It was the "D
When Ireland placed a guarantee on all bank deposits and debt last week, it angered neighbors, who feared capital would flee their banks to the safer haven of Dublin. [remember last year, when they were tax competing?]
Ernie doesn't like horror flicks. I find them entertaining, but this flick scared the living bejeesus out of me. Peter Schiff, Ali Velshi, Steven Moore, and Bob O'Brien answer listener calls on Glenn Beck's CNN show.
("And the last coffin nail is........")
WASHINGTON (AFP) - Desperate measures by governments in Europe and North America to steady the banking system failed to stem panic in global markets Monday amid deepening gloom at the scope of the financial crisis.
Federal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month’s downfall of Wall Street titans: its spread to corporate America and state and local governments.
Many of you have asked what exactly I mean by "This is it," so here it is in point form:
A year into the global financial crisis, several key central banks remain extraordinarily exposed to their countries' shaky private financial sectors.
Texas Congressman Ron Paul has warned that the amended bailout legislation that passed Congress on Friday is not only far worse than the original bill but is also unconstitutional.
"We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars."
Wall Street joined in a worldwide cascade of despair Monday over the financial crisis, driving the Dow Jones industrials to their biggest loss ever during a trading day.
WASHINGTON — The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.
The New York Times leads with, and the Wall Street Journal fronts, a look at how European governments are taking steps to prevent major banks from going under while trying to prevent panic from spreading by boosting insurance levels on private accoun
"We will not Christmas-tree this bill," Sen. Chuck Schumer, a New York Democrat promised a few days ago. "The times are too urgent. Everyone has their own desires and needs. It's going to have to wait." So much for that ide
Last month, extraordinary redemptions threatened the solvency of Money Market Funds. This month, credit lines are drying up and the Fed, in collusion with the Treasury, has put us on the hook for keeping the funds afloat.
Less equity extraction means less consumption over the next few quarters.
Central bank doubles to $300 billion the amount it will loan banks. Loans could reach $900 billion by end of year.
Dow slides 500 points, trading below 10,000 for first time in nearly four years
Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly
The willful looting of the national treasury.
Lew Rockwell interviews Peter Schiff, who recommends that people stop paying on their mortgages and let the government make them a deal.
Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion plan to restore order to the financial industry.
Steve Kroft looks at some of the arcane Wall Street financial instruments that have magnified the economic crisis.
In stark relief: PAC contributions vs. House votes on the (original) Billionaire Bailout. MAPLight has certainly shed light on why so-called "Free Trader" Republicans revealed their true selves.