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October 7, 2008 6:25:03 PM CDT

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Stories related to: Ben Bernanke

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  • September 2008

    • Wrangle Over $700B Bailout Heats Up

      New York Times  |  Sep 23, 08 6:58 AM CDT

      Wrangle Over $700B Bailout Heats Up

      (Newser) - Congress and the Bush administration are edging closer to an agreement on a bailout for financial firms—but several major sticking points remain, the New York Times reports. Progress has been made on oversight for the $700-billion fund, but lawmakers are pushing for taxpayers to get an equity stake in firms they bail out, and the White House wants flexibility. Some are demanding a cap on the pay of top executives whose firms are rescued. More »

    • How You Know It's a Crisis: Oprah Is Bailer-Out-in-Chief

      Culture11  |  Sep 22, 08 6:17 PM CDT

      How You Know It's a Crisis: Oprah Is Bailer-Out-in-Chief

      (Newser) - How the Wall Street meltdown will affect our day-to-day existence, per Culture11: Nation's emergency lender: Oprah. Living in sin now OK; sharing a sleeping bag in tent city is new social scourge. Cloning approved to allow for mass creation of Alan Greenspans. Hipsters downgrade their booze from PBR to ethanol. More »

      Tags

      list  • economy  • Ben Bernanke  • Oprah Winfrey  • humor  • Alan Greenspan

    • SEC Chair Cox Fiddled as US Markets Burned

      Bloomberg  |  Sep 22, 08 3:22 PM CDT

      SEC Chair Cox Fiddled as US Markets Burned

      (Newser) - With US markets in upheaval, the head of the watchdog Securities and Exchange Commission was preoccupied with a new technology for corporate filing, Bloomberg reports. Christopher Cox’s inaction has provoked bipartisan criticism: McCain adviser Carly Fiorina said he has been “asleep at the switch,” while Democratic Sen. Chris Dodd has ordered a probe into the drastic drop in SEC enforcement under Cox’s watch. More »

    • Bernanke, Paulson Put Fear of God Into Pols

      New York Times  |  Sep 19, 08 4:18 PM CDT

      Bernanke, Paulson Put Fear of God Into Pols

      (Newser) - Lawmakers were astounded at the possible fallout of the crisis on Wall Street outlined last night by Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson, the New York Times reports. “When you listened to him describe it you gulped,” New York Sen. Charles Schumer said of the meeting between a select group of lawmakers and the two officials. More »

      Tags

      Congress  • Federal Reserve  • Wall Street  • bailout  • Henry Paulson  • Ben Bernanke  • Treasury Department  • Charles Schumer  • Chris Dodd

    • US Zeroes In on Sweeping Rescue Plan

      Wall Street Journal  |  Sep 18, 08 8:35 PM CDT

      US Zeroes In on Sweeping Rescue Plan

      (Newser) - The nation's top finance officials briefed members of Congress tonight on an unprecedented plan in the works to keep troubled institutions afloat, the Wall Street Journal reports. Treasury chief Henry Paulson and Fed chief Ben Bernanke said they would work through the weekend to get something to lawmakers for a vote next week. The centerpiece reportedly remains a mechanism to buy bad loans from banks. More »

      Tags

      Congress  • Henry Paulson  • Ben Bernanke  • credit market chaos

    • Late Rally Lands Dow Up 410

      Wall Street Journal  |  Sep 18, 08 3:25 PM CDT

      Late Rally Lands Dow Up 410

      (Newser) - The markets rallied late in today’s rollercoaster session, keying on a $360 billion plan to shore up money markets and reports that the Fed might form a government body to absorb firms’ bad credit bets, the Wall Street Journal reports. The Dow gained 410.03 to close at 11,019.69. The Nasdaq closed up 100.25 at 2,199.10, while the S&P 500 rose 50.01, settling at 1,206.40. More »

      Tags

      Dow Jones  • Federal Reserve  • S&P 500  • Nasdaq  • Ben Bernanke  • AIG  • WaMu

    • Congress Watches Uneasily as Fed, Treasury Move Boldly

      Washington Post  |  Sep 18, 08 10:47 AM CDT

      Congress Watches Uneasily as Fed, Treasury Move Boldly

      (Newser) - Like sports fans second-guessing officials’ calls, lawmakers are watching uneasily from the sidelines as Treasury and Federal Reserve officials pledge billions of taxpayer dollars to fight Wall Street’s meltdown, the Washington Post reports. And, while many in both parties have been convinced the moves were appropriate, they’re worried too few players—unelected, at that—have too much power. More »

      Tags

      Congress  • Wall Street  • Henry Paulson  • Ben Bernanke  • Lehman Brothers  • Nancy Pelosi  • AIG  • Barney Frank

    • Crisis 'Going to Last a Lot Longer'

      Wall Street Journal  |  Sep 18, 08 7:19 AM CDT

      Crisis 'Going to Last a Lot Longer'

      (Newser) - The “worst financial crisis since the Great Depression” is spiraling downward and we may not have hit bottom yet, reports the Wall Street Journal in a look at how the subprime contagion has spread beyond its banking hosts, infiltrating sectors previously thought to be immune. “I think it’s going to last a lot longer than perhaps we would have anticipated,” said Xerox CEO Anne Mulcahy yesterday. More »

      Tags

      Federal Reserve  • Ben Bernanke  • credit market chaos  • Great Depression

    • Bailouts Blast Fed Into Uncharted Territory

      New York Times  |  Sep 18, 08 3:18 AM CDT

      Bailouts Blast Fed Into Uncharted Territory

      (Newser) - The Fed's mammoth bailout of financial firms is unprecedented in the history of the central bank, which now must play new and contradictory roles, the New York Times reports. The Fed has often been called the nation's lender of last resort—but the acquisition of AIG and holding of Bear Stears securities now also make it the investor of last resort. More »

      Tags

      Federal Reserve  • bailout  • Ben Bernanke  • AIG  • central bank  • monetary policy

    • Hank and Ben: Time to Play Offense

      New York Times  |  Sep 17, 08 7:15 AM CDT

      Hank and Ben: Time to Play Offense

      (Newser) - If you'd told economists 18 months ago what lay ahead in the financial industry, predictions for the American economy would be dire. The fact that things aren't totally awful—we still haven't entered into a recession—is testament to the good defense of Hank Paulson and Ben Bernanke. What they aren't doing, writes David Leonhardt in the New York Times , is fixing the underlying problems that led to Lehman's failure and AIG's bailout. More »

      Tags

      credit crisis  • bailout  • recession  • Henry Paulson  • Ben Bernanke  • Lehman Brothers  • Chrysler  • AIG

    • Fed Holds Line on Interest Rates; Markets Bounce

      Wall Street Journal  |  Sep 16, 08 1:38 PM CDT

      Fed Holds Line on Interest Rates; Markets Bounce

      (Newser) - In its first unanimous interest rate decision in a year, the Federal Reserve voted today to leave its key interest rate unchanged at 2%. The decision reflects regulators' unwillingness to get even more involved in the developments roiling the financial markets, the Wall Street Journal reports. Stocks fell triple-digits on the news that an anticipated cut wouldn't materialize, but bounced back up in late afternoon trading. More »

      Tags

      Federal Reserve  &bul