FDIC Chairman Sheila Bair (Photo by Chip Somodevilla/Getty Images)
President-elect Barack Obama insists he will protect Main Street, not just Wall Street, when fashioning a federal response to the credit crisis.
Perhaps so. Perhaps his “one president at a time” rule is causing…
Kimberly White/Bloomberg News
After bailing out banks, investment houses, a big car loan company and AIG insurance (twice), the federal government finally may be getting around to individual homeowners. It’s about time.
After all, it was failing mortgages that fueled this fall’s financial…
In the 12 days between the first presidential debate Sept. 26 in Oxford, Miss., and the second debate last night in Nashville, Tenn., the United States took a 6.0 hit on the economic Richter scale. That fact changed not only the…
Seldom, if ever, has the American economy gone through a week like the one just passed.
It began with a $1.2 trillion loss on Wall Street as stocks dropped 8 percent in a single day. It ended with Congress passing and President…
That’s how Andrew Sullivan describes it, as Princeton economists weigh in.
The New York Times reports that Alan H. Fishman, chief executive officer of Washington Mutual, the Seattle-based bank whose assets were seized by the FDIC and sold to JPMorgan Chase on Thursday, will get a lovely parting gift:
But the seizure…
The presidential campaign and the Wall Street financial crisis collided Wednesday. What resulted played at times like a cheesy political movie.
The unprecedented cascade of bizarre events almost upstaged a nationally televised effort by President George W. Bush to convince a skeptical…
Is it pure politics? Is it statesmanship? Is he for real? Is he desperate? How will delaying a debate help resolve the issue? How about going ahead with the debate and focusing on the economy,…
Republican presidential nominee Sen. John McCain of Arizona responded to Monday’s financial crisis on Wall Street by telling an audience in Jacksonville, Fla., that the “The fundamentals of our economy are strong, but these are very, very difficult times.”
Naturally this…
