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Banking Crisis

Right Now, Propping Up the Banks Is the Only Thing

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Right now restoration of financial confidence isn't everything. It's the only thing. So for the time being, we can forget about Troopergate, hecklers at McCain rallies and the latest opinion polls.

Iceland suspends stock trading, creates new bank

AP | JANE WARDELL | Posted 05.25.2011 | Business

REYKJAVIK, Iceland — Iceland suspended trading on its stock exchange for two days and took control of the country's largest bank _ the third to ...

26 Days Out: Pay No Attention to the Embarrassingly Horrible Economic Plan Behind the Curtain

Jesse Lee | Posted 05.25.2011 | Business
Jesse Lee

McCain and his campaign spent Wednesday boasting about his latest big, bold, erratic econonomic plan. Then something happened - everybody looked at it and realized it was awful.

Federal Reserve Unveils Short-Term Loan Plan

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve is providing more details about when it will make billions of dollars in short-term loans available to squeezed...

World Markets Plunge On Crisis Fears

AP | EMILY FLYNN VENCAT | Posted 05.25.2011 | Business

LONDON — Asian and European stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears that the g...

Richard Fuld's Congressional Hearing To Explore Causes And Effects Of Collapse (VIDEO)

New York Times, Reuters, AP | Posted 05.25.2011 | Business

**UPDATE** FULD WONDERS WHY LEHMAN WASN'T BAILED OUT When Lehman CEO Richard Fuld was asked whether there was a substantial difference, from a busin...

Wachovia, Citigroup, Wells Fargo Drama Worries Fed

Dave Burdick | Posted 05.25.2011 | Business

Last week, Citigroup and the FDIC seemed to be close to a deal to acquire the troubled Wachovia Corp. Then, on Friday, Wells Fargo swooped in and made...

Dow 10,000: As World Stocks Sink, Dow Jones Drops To Lowest Since 2004

Huffington Post | Dave Burdick | Posted 05.25.2011 | Business

For the first time since October of 2004, the Dow Jones Industrial Average has dropped below the 10,000-point mark. It has dropped as many as 700 poin...

Can Obama Save American Capitalism?

Jaron Lanier | Posted 05.25.2011 | Business
Jaron Lanier

I want to live in a world in which bankers get rich by pushing every neuron in their brains to find great investments in the real world instead of illusory sure bets in a phony world.

And the Financial Experts Say...

Anthony Anderson | Posted 05.25.2011 | Business
Anthony Anderson

If we act soon, we can invest intelligently in a lifestyle independent from gas prices, food prices, and interest rates. We can take back our money from this culture that is consuming the planet.

Good Money After Bad

Neil Grossman | Posted 05.25.2011 | Business
Neil Grossman

There is one more cost our national financiers are not considering. In issuing this boatload of new debt, it in all likelihood will raise the cost of all the other debt we are now carrying.

Waiting for the Deluge

Sasha Abramsky | Posted 05.25.2011 | Business
Sasha Abramsky

In some ways, it's not only the economy that's now facing organ failure; it's also the GOP itself. Over the next few days we'll be seeing something approaching a civil war developing in the party.

What Would Broder Do?

John McQuaid | Posted 05.25.2011 | Media
John McQuaid

McCain's move doesn't make much logical sense coming on the heels of nearly six weeks of divisive culture war politics. But it amounts to an appeal to one of the most dearly-held big media assumptions.

Paulson's Banking Committee Statement

NY Times | Posted 05.25.2011 | Politics

Chairman Dodd, Senator Shelby, members of the committee, thank you for the opportunity to appear before you today. I appreciate that this is a difficu...

Bring Back Trust in Banking: Some Ideas from Muhammad Yunus and the Grameen Bank

Vivian Norris | Posted 05.25.2011 | Business
Vivian Norris

We all need to believe in and have trust in our banks, or the whole thing comes tumbling down.

Who Watches the Watchers?

Sheila Tendy | Posted 05.25.2011 | Business
Sheila Tendy

This financial crisis is complex. But it's too important not to understand.

John McCan Wants the Health Care Industry to be More Like the Banking Industry

Robert Schlesinger | Posted 05.25.2011 | Politics
Robert Schlesinger

John McCain wants the health care industry to be more like the banking industry. This from a McCain article in Contingencies, the magazine of the Ame...

Paulson Bailout Plan Could Cost $1 Trillion

Politico | Posted 05.25.2011 | Business

Congressional leaders said after meeting Thursday evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that as much...

Financial Crisis Will Be Addressed By Bush This Morning

AP | DEB RIECHMANN | Posted 05.25.2011 | Home

WASHINGTON — President Bush on Friday asked Congress to approve extensive federal intervention in financial markets that he said is both warrant...

Freddie Mac Boss Selling $5 Million Vacation Home (PHOTOS)

Huffington Post | Posted 05.25.2011 | Business

Freddie Mac CFO Anthony "Buddy" Piszel must be feeling the crunch, as the NY Post reports he is selling his Maryland vacation home for $5 million Pisz...

Wall Street Bounces On Opening After Wednesday's Drop

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK - Wall Street had a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up more than 400 points...

Federal bank insurance fund dwindling

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Banks are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeli...

Taking Steps To Strengthen Washington Mutual

AP | MICHAEL LIEDTKE and SARA LEPRO | Posted 05.25.2011 | Business

Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous bank...

Bank Of America Now: Too Big To Succeed? | Chadwick Matlin | Posted 05.25.2011 | Business

Almost lost in the smoke-bomb of Lehman Brothers' epic fail Sunday was Bank of America's historic takeover of Merrill Lynch for $50 billion. Over the ...

Paulson Drew The Line At Lehman Brothers, Sparked Frantic End

Wall Street Journal | Deborah Solomon | Posted 05.25.2011 | Business

One of the most tumultuous weekends in Wall Street's history began Friday, when federal officials decided to deliver a sobering message to the captain...