On the topic of the how, even with the bailout bill (sorry, the rescue package), all of our problems won’t be solved overnight, I offer a story I wrote for Time.com today. It starts:
To understand how the credit crunch is hitting American business — and, in turn, you — look no further than The Dog Shop, a pet supplies and grooming
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So now federal regulators are in a bit of a bind. If they let Wells Fargo ride in and snatch Wachovia out from under Citigroup, they get a better deal for taxpayers—an industry-on-industry solution with no government backstop.
But that might send a dangerous signal to the market. Setting aside the issue of whether or not a …
A bunch of value investors got together at Columbia University today for the annual celebration of Graham and Dodd—those Columbia B school profs who wrote the 1934 tome Security Analysis and inspired generations of investors (Warren Buffet among them) with the philosophy that the way to make money is to buy good companies on the cheap …
Today the Department of Housing and Urban Development (HUD) released lender guidelines for the new Hope for Homeowners program that was included in the housing bailout bill Congress passed in July.
If you’re struggling with mortgage payments, it’s definitely something you should ask your servicer—or a housing counselor—about. The …
Apparently, Nebraska is where you go when you’re running a company and want to prove to the world that everything is okay. First, he put $5 billion into Goldman Sachs, and now Warren Buffett, the Great Value Investor of the Missouri River Valley, is buying $3 billion of perpetual preferred stock in General Electric. Here’s the release GE …
Justin responds to our colleague Jim Poniewozik’s rumination that maybe the media is to blame for the bailout bill’s failure. The argument: the mainstream business press dropped the ball on clearly articulating what awful things would happen to ordinary Americans if Congress didn’t pass a rescue package.
Like I said, Justin takes that …
Yes, we had a 777-point drop in the Dow industrials yesterday, but, as our colleague Jyoti Thottam reports, Asian markets trembled but for the most part held up today. She writes:
Japan’s Nikkei Index fell 4.1% on Sept. 30; after declining in early trading, stocks in China and Hong Kong eked out small gains. “The reaction was not as bad
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The title of the most recent research from Rasmussen Reports wasn’t quite as funny this morning before our elected representatives went to work: “Opposition to Bailout Plan Falls Dramatically.” Just a mere half-day ago the polling outfit reported:
As Congress prepares to vote on a proposed economic rescue plan, opposition to the measure
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Small businesses, apparently. I happened to be reading a summary of the National Small Business Association’s Mid-Year Economic report and came across this:
Included in the report, 68 percent of small-business owners report that FDIC insurance is not adequate enough to insure their business accounts, and nearly two-thirds have already
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Remember the first bailout bill? The one Congress called the Housing and Economic Recovery Act of 2008? It drives me batty to hear all these politicians talk about not doing more for Main Street when we already have legislation meant to do just that.
In installment one of Hank Paulson and Ben Bernanke Go to Congress, Sen. Bob Casey …
Yeah, I’m sure all those concerns about the stability of the nation’s financial system are overblown. So what if the government seized the country’s largest depository institution after its souring mortgage portfolio triggered write-downs and losses and a lack of confidence that triggered more than $16 billion in deposit outflows in 10 …
Some breaking news on the Washington Mutual front. Seems JPMorgan Chase is swooping in to buy WaMu’s deposits—and take over some branches. Details are murky at the moment; we’ll know more after the conference call at 9:15 tonight. Word so far is that the deal was government-brokered. What, exactly, does that mean? Think a lot of people …
