Finance

Green Bailouts, Green Stimulus Could Be On The Way

Huffington Post | Dave Burdick | Posted 12.02.2008 | Green

Read More: Automakers, Green Bailout, Green Collar Jobs, Alan Mulally, Finance, Economy, Ford, Cars, Financial Crisis, Green Economy, Green Cars, Green News

Though spending on environmental efforts has long been considered an extra expense, it seems that two famously big spenders -- the United States gover...

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How Much Should Citigroup CEO Vikram Pandit Make?

New York Times | Posted 12.02.2008 | Business

Read More: Vikram Pandit, Citigroup, Finance, Economy, Banks, Financial Crisis, Executive Pay, Business News

Sarah Anderson, a director at the Institute for Policy Studies, is an advocate of aggressive pay curbs and isn't likely to buy into an eight-figure in...

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Does The US Need A New Kind Of Tax?

Fortune.com | Shawn Tully | Posted 12.02.2008 | Business

Read More: Tax System, Taxes, VAT, Finance, Economy, Financial Crisis, Value-Added Tax, Business News

It's called a value-added tax, or VAT, and it's been used for decades to pay the bills and sustain the immense growth of governments around the world,...

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Recession-hit automakers brace for grim US sales

AP | JEANNINE AVERSA | Posted 12.02.2008 | Business

Read More: Financial Crisis, Auto Sales, Finance, Economy, Business News

WASHINGTON — Walloped by the recession, automakers' U.S. sales are plummeting as hard-to-get credit, job losses and other stresses make many Ame...

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JPMorgan To Cut 9,200 Washington Mutual Jobs

Reuters | Posted 12.01.2008 | Business

Read More: Layoffs, JPMorgan Chase, Washington Mutual, Finance, Economy, Financial Crisis, Banks, Job Cuts, Washington Mutual Job Cuts, Business News

JPMorgan Chase & Co on Monday said it will eliminate about 9,200 jobs at the former Washington Mutual Inc, which on Sept 25 became the largest U.S. ba...

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Paulson Says Other Rescue Programs Being Examined

AP | MARTIN CRUTSINGER | Posted 12.01.2008 | Business

Read More: Bailout, Finance, Economy, Henry Paulson, Financial Crisis, Bailout Plan, Tarp, Business News

WASHINGTON — Treasury Secretary Henry Paulson said Monday that the administration is looking for more ways to tap a $700 billion financial rescu...

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Bernanke: lower interest rates are "feasible"

AP | JEANNINE AVERSA | Posted 12.01.2008 | Business

Read More: Federal Funds Rate Zero, Finance, Economy, Interest Rates Zero, Fed Funds Rate Zero, Banks, Financial Crisis, Ben Bernanke, Interest Rates, Business News

WASHINGTON — Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are...

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Bush: "I'm Sorry" About The Economic Crisis

AP | DEB RIECHMANN | Posted 12.01.2008 | Business

Read More: George W. Bush, Economy, Financial Crisis, Finance, George. W. Bush Sorry, Bush Sorry About Crisis, Business News

WASHINGTON — President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said h...

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Down we go again: Fourth-worst drop ever for Dow

AP | SARA LEPRO and TIM PARADIS | Posted 12.01.2008 | Business

Read More: Financial Crisis, Construction Spending, Finance, Economy, Business News

NEW YORK — The stock market suffered one of its worst days since the financial meltdown Monday, slicing 680 points off the Dow Jones industrial ...

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Citigroup Making $10B Construction Company Acquisition

AP | Posted 12.01.2008 | Business

Read More: Banks, Citigroup, Sacyr Vallehermoso, Citigroup Sacyr Vallehermoso, Finance, Economy, Business News

MADRID, Spain — Debt-laden Spanish construction company Sacyr Vallehermoso said Monday it has agreed to sell its highway-operating unit, Itinere...

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Bush Administration Weakened Lending Rules Before Crash

AP | MATT APUZZO | Posted 12.01.2008 | Business

Read More: George Bush, Finance, Economy, Financial Crisis, Henry Paulson, Business News

WASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed...

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The New Bernanke-Bair-Paulson Insurance Company

Economix | Uwe E. Reinhardt | Posted 11.28.2008 | Business

Read More: Fdic, Treasury Department, Insurance, Finance, Economy, Financial Crisis, Henry Paulson, Banks, Personal Finance, Ben Bernanke, Sheila Bair, Business News

After first trying in vain to become toxic-asset managers and, next, non-voting equity investors in shaky banks, the peripatetic trio composed of the ...

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On Cue, Shoppers Show Up

AP | ANNE D'INNOCENZIO | Posted 11.28.2008 | Business

Read More: Consumerism, Holiday Shopping, Finance, Economy, Consumer Spending, Financial Crisis, Black Friday Deals, Black Friday, Business News

NEW YORK — Shoppers, who had snapped their wallets shut since September, turned out in force Friday to grab early morning deals and hard-to-find...

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Holiday Season May Already Be Over For Frantic Retailers

AP | ANNE D'INNOCENZIO | Posted 11.27.2008 | Business

Read More: Consumer Spending Black Friday Shopping, Holiday Shopping, Finance, Economy, Financial Crisis, Black Friday Deals, Personal Finance, Business News

NEW YORK — The holiday shopping season begins Friday with a blitz of early morning specials. For some merchants, though, it's practically over a...

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Dow, S&P 500 clinch 4th straight winning session

AP | TIM PARADIS | Posted 11.26.2008 | Business

Read More: Financial Crisis, Finance, Economy, Business News

NEW YORK — A stock market gaining confidence in the nation's financial system bolted higher Wednesday, propelling the Dow Jones industrials and ...

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Ross Perot Real Estate Fund Blows Up

Clusterstock | Joe Weisenthal | Posted 11.26.2008 | Business

Read More: Ross Perot, Finance, Economy, Financial Crisis, Real Estate, Ross Perot Real Estate Fund, Business News

Take a creaking CMBS market, mix in some leverage and voila: liquidation, just like that. The Journal reports that one of the first to explode was one...

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New jobless claims drop from 16-year high

AP | CHRISTOPHER S. RUGABER | Posted 11.26.2008 | Business

Read More: Jobless Rate, Finance, Economy, Consumer Spending, Financial Crisis, Personal Finance, Jobless Claims, Personal Spending, Business News

WASHINGTON — New jobless claims fell more than expected last week from a 16-year high, the government said Wednesday, though they remain at elev...

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FDIC's List Of Troubled Banks Rapidly Swelling

AP | MADLEN READ | Posted 11.25.2008 | Business

Read More: Fdic, Financial Crisis, Banks, Finance, Troubled Banks, Economy, FDIC Troubled Banks List, Business News

NEW YORK — The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 dur...

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Treasury Preparing To Ask For Rest Of Bailout Money

Politico | David Rogers | Posted 11.25.2008 | Business

Read More: Bailout, Finance, Economy, Henry Paulson, Financial Crisis, Business News

Politico reports that the Treasury Department is readying itself to ask Congress for the rest of the $700 bailout money: After a rush of new commitme...

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Analyst Argues JP Morgan Chase Might Need More Money Than Citigroup

Silicon Alley Insider | John Carney | Posted 11.25.2008 | Business

Read More: JP Morgan Chase, Citigroup, Bailout, Finance, Citigroup Bailout, Economy, Financial Crisis, Banks, Bailout Plan, JP Morgan Chase Bailout, Business News

Market fear reached such a high last week that JP Morgan CEO Jamie Dimon found he could not get on a plane to Saudi Arabia without arousing suspicions...

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NYT: Geithner And Summers "Have Played Central Roles" In Provoking Crisis

New York Times | Posted 11.25.2008 | Business

Read More: Finance, Economy, Financial Crisis, Timothy Geithner, Obama Economic Team, Lawrence Summers, Barack Obama, Business News

In various high-level government positions, Timothy Geithner, Mr. Obama's choice for Treasury secretary, and Lawrence Summers, his choice for director...

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Stock market doesn't flinch despite economic data

AP | JEANNINE AVERSA | Posted 11.25.2008 | Business

Read More: Financial Crisis, Personal Finance, Gdp, Finance, Economy, Business News

WASHINGTON — Bad news was no news to the battered American economy Tuesday. The government released a triple dose of discouraging data: The eco...

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Feds unveil plans to unfreeze consumer debt market

AP | JEANNINE AVERSA and MARTIN CRUTSINGER | Posted 11.25.2008 | Business

Read More: College Loans, Finance, Economy, Loans, Credit Crunch, Financial Crisis, Credit Crisis, Credit Issuers, Business News

WASHINGTON — The government has introduced a pair of new programs that will provide $800 billion to help unfreeze the market for consumer debt w...

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Obama's Second Economic Conference: Names Budget Director, Promotes Restraint

AP | BETH FOUHY and JIM KUHNHENN | Posted 11.25.2008 | Business

Read More: Obama Economic Stimulus Plan, Economic Stimulus Package, Bailout, Finance, Economy, Federal Reserve, Financial Crisis, Timothy Geithner, Barack Obama, Business News

CHICAGO -- President-elect Barack Obama named Peter Orszag as his budget director on Tuesday and said his job will be to conduct a thorough review of ...

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What New Treasury Secretary Geithner Must Prove

US News and World Report | Rick Newman | Posted 11.24.2008 | Business

Read More: Finance, Economy, Financial Crisis, Timothy Geithner, Treasury Secretary, Business News

Geithner is still a risky choice, and in a few months' time, the markets could very well have turned on him. Here's why: He's never been top dog. G...

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