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July 25, 2008 8:05:03 AM CDT

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Stories related to: Federal Reserve

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Stories 41 - 60 of 207

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  • March 2008

    • Obama Plan: $30B Stimulus, More Regulation

      newser  |  Wall Street Journal  |  Mar 27, 08 2:29 PM CDT

      Obama Plan: $30B Stimulus, More Regulation

      Barack Obama called today for stricter financial regulations and laid out a $30 billion stimulus plan, the Wall Street Journal reports, including measures aimed at the foreclosure crisis. The Democratic candidate said President Bush had “a generally scornful attitude toward oversight and enforcement,” and proposed expanding Fed powers and upping banks’ capital requirements. More »

      Tags

      Barack Obama  • Hillary Clinton  • John McCain  • Federal Reserve  • mortgage crisis  • regulations  • stimulus plan

    • Feds Must Ward Off Stagnation, Clinton Says

      newser  |  Wall Street Journal  |  Mar 27, 08 11:15 AM CDT

      Feds Must Ward Off Stagnation, Clinton Says

      The government should step into the mortgage mess on a broader scale, Hillary Clinton told the Wall Street Journal yesterday, suggesting monetary policy alone can’t ignite a recovery and warning that procrastination could lead to stagnation similar to Japan’s weary economy. Clinton said the Federal Housing Administration should buy troubled mortgages in combination with a program to auction defaulted loans. More »

    • 2 Probes Launched Into Bear Stearns Deal

      newser  |  New York Times  |  Mar 27, 08 4:40 AM CDT

      2 Probes Launched Into Bear Stearns Deal

      The controversial acquisition of Bear Stearns by rival JP Morgan Chase, aided by billions of dollars of government credit, is about to become one of the most scrutinized deals in Wall Street history. Two separate Senate investigations will soon be under way, one by the Banking Committee and another by the Finance Committee, reports the New York Times . More »

    • Paulson Wants Closer Tabs on Investment Banks

      newser  |  New York Times  |  Mar 26, 08 2:25 PM CDT

      Paulson Wants Closer Tabs on Investment Banks

      Treasury Secretary Henry Paulson said today that investment banks owe the government more information about their financial condition if they are occasionally allowed to borrow money from the Federal Reserve, the New York Times reports. Paulson seemed to call for tighter regulations before calling the recent bailout of Bear Stearns "precedent only for unusual periods of turmoil." More »

      Tags

      Federal Reserve  • Bear Stearns  • Henry Paulson  • Treasury Department  • investment banks

    • Bear Stearns Staffers Gird for Mass Layoffs After $3B Hit

      newser  |  Reuters  |  Mar 26, 08 7:30 AM CDT

      Bear Stearns Staffers Gird for Mass Layoffs After $3B Hit

      The Icarus-like fall of Bear Stearns stock, trading as high as $170 a share a year ago before plummeting to $2 last week, has cost Bear employees—who once owned nearly a third of the company—more than $3 billion. That's even after JPMorgan raised its bid for the investment bank to close to $10 a share, reports Reuters. More »

      Tags

      Federal Reserve  • Bear Stearns  • acquisitions  • JPMorgan Chase  • buyout  • takeover

    • The Great Depression It's Not

      newser  |  Reuters  |  Mar 25, 08 11:21 AM CDT

      The Great Depression It's Not

      Certainly, the 8-month-old credit crisis is serious, but the market turmoil is unlikely to kick off the next Great Depression, financial markets editor Mike Dolan writes for Reuters. "You could be forgiven for thinking we will all soon be hoarding food and reverting to a barter economy," he snipes, but the real issue is psychological: "The problem is lack of confidence." More »

      Tags

      stock market  • Federal Reserve  • recession  • credit crisis  • housing market

    • Investors Urge Reluctant Fed to Buy Mortgage Debt

      newser  |  Bloomberg  |  Mar 24, 08 12:50 PM CDT

      Investors Urge Reluctant Fed to Buy Mortgage Debt

      The best way for the Fed to help reverse the sagging economy is for it to buy some of the $6 trillion in outstanding mortgage-backed securities that have Wall Street so nervous, investors say. The move would ease the credit crunch but put taxpayers at risk. It’s an option the Bush administration has been reluctant to take, reports Bloomberg. More »

    • JPMorgan in Talks to Boost Bear Stearns Bid

      newser  |  New York Times  |  Mar 24, 08 4:00 AM CDT

      JPMorgan in Talks to Boost Bear Stearns Bid

      JPMorgan Chase was in negotiations last night to quintuple its bid for Bear Stearns following a storm of angry protests by Bear shareholders over the initial bargain-basement deal for the investment banking giant, reports the New York Times . Under the new deal, JPMorgan Chase would pay $1 billion—$10 a share, up from the initial offer of $2 a share, which represented just one-fifteenth of Bear’s market price. More »

    • Fed Cut Raises Inflation Fears

      newser  |  Washington Post  |  Mar 19, 08 10:27 AM CDT

      Fed Cut Raises Inflation Fears

      The Federal Reserve's latest rate cut might boost the economy with cheaper credit, but economists worry a freed inflation genie could be behind any magic, the Washington Post reports. Commodity prices rose to record levels in expectation that the rate cut would keep demand high, and the price hikes are liable to soon filter down to the checkout line. More »

      Tags

      Federal Reserve  • Ben Bernanke  • inflation  • mortgage  • interest rate cut  • exports  • commodities

    • Angry Shareholders Want More for Bear Stearns

      newser  |  Wall Street Journal  |  Mar 19, 08 7:19 AM CDT

      Angry Shareholders Want More for Bear Stearns

      Bear Stearns shareholders are threatening to vote against its sale to JPMorgan, saying the $2 price per share for the nation’s fifth largest investment bank is unrealistic; speculators seem to agree, trading up Bear stock to $5.91 yesterday, a 23% bump. Expect some serious brinkmanship to force a higher offer or lure another bid, reports the Wall Street Journal . More »

      Tags

      Federal Reserve  • Bear Stearns  • acquisitions  • JPMorgan Chase  • James Dimon

    • Economy in 'Sharp Decline,' Paulson Admits

      newser  |  Reuters  |  Mar 19, 08 5:46 AM CDT

      Economy in 'Sharp Decline,' Paulson Admits

      Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt that the American people know that the economy has turned down sharply. So to me much less important is the label that's placed on it today." More »

      Tags

      Federal Reserve  • recession  • economy  • Bear Stearns  • Henry Paulson  • JPMorgan Chase  • stimulus package  • tax rebate  • Department of the Treasury  • capital markets  • housing sector

    • Stocks Blast Off; Dow Rises 420

      newser  |  Bloomberg  |  Mar 18, 08 3:47 PM CDT

      Stocks Blast Off; Dow Rises 420

      Stocks blasted off today, with the Dow up more than 400 points after the Fed rate cut and a rally by investment bank stocks. "The run on the investment banks would appear to be over,'' a strategist told Bloomberg. The Dow ended up 420.41 at 12,392.66, the Nasdaq up 91.25 at 2,268.26, and the S&P 500 up 54.14 at 1,330.71. More »

      Tags

      stock market  • Federal Reserve  • Goldman Sachs  • interest rate cut

    • Fed Cuts Key Interest Rate ¾ Point

      newser  |  Wall Street Journal  |  Mar 18, 08 1:37 PM CDT

      Fed Cuts Key Interest Rate &frac34; Point

      The Federal Reserve today cut the federal funds rate by ¾ of a percentage point, from 3% to 2.25%, disappointing many investors who were hoping for a cut of a full point, reports the Wall Street Journal . The Fed voted 8-2 for the rate cut. "Recent information indicates that the outlook for economic activity has weakened further," the central bank said in a statement, adding it will take further action when needed. More »

      Tags

      Federal Reserve  • Ben Bernanke  • interest rate cut  • weak dollar

    • Credit Crunch Slows Spending

      newser  |  Washington Post  |  Mar 18, 08 11:10 AM CDT

      Credit Crunch Slows Spending

      Fewer credit card offers, tougher mortgage requirements, and a slowdown in business expansion all are likely because of the worsening credit crisis, reports the Washington Post. Banks are looking to limit exposure to high-risk customers and restore their own bottom lines. And that’s tough medicine for an economy that’s grown on the back of cheap money. More »

      Tags

      Federal Reserve  • credit crisis  • interest rate  • consumer spending  • banking  • credit card

    • Fed 'Will Get on Top of This,' Says Bernanke Mentor

      newser  |  Bloomberg  |  Mar 18, 08 10:35 AM CDT

      Fed 'Will Get on Top of This,' Says Bernanke Mentor

      Ben Bernanke has the savvy to inject enough liquidity into the US economy to push it through the current credit crisis, says a leading economist who advised the Fed chief's MIT doctoral thesis. “The Fed will get on top of this,” said Stanley Fischer, ahead of this afternoon's meeting in which the board was expected to announce a rate cut of up to 1%. More »

      Tags

      Federal Reserve  • credit crisis  • Ben Bernanke  • inflation  • interest rate cut  • MIT  • International Monetary Fund  • IMF

    • Bernanke Looks Impotent as Fed's Fixes Fail

      newser  |  Bloomberg  |  Mar 17, 08 11:11 AM CDT

      Bernanke Looks Impotent as Fed's Fixes Fail

      Ben Bernanke has employed virtually every tool in the Federal Reserve's kit to calm markets panicked by the credit crisis, but hasn't scored any more than temporary rallies, Bloomberg reports in a look at the markets' fading faith in the Fed chief—and the Fed itself. "The Fed has been playing the equivalent of Whac-A-Mole,'' says a former Fed vice chairman. More »

      Tags

      Federal Reserve  • recession  • Ben Bernanke  • housing crisis  • Bear Stearns  • credit market

    • Stocks Rebound, Countering Selloff in Financials

      newser  |  Wall Street Journal  |  Mar 17, 08 10:17 AM CDT

      Stocks Rebound, Countering Selloff in Financials

      Stocks steadied after steep early morning losses today, with the Dow actually rising 1.06 points by mid-morning, the Wall Street Journal reports. But financials were still down big, as the Bear Stearns fire sale loomed large over the market. Lehman Brothers, down 22%, was hit the worst, other than Bear itself, which nosedived 87%. Still, at $3.79, it remained stubbornly above its $2 buyout price. More »

      Tags

      stock market  • Federal Reserve  • S&P 500  • Dow Jones  • Ben Bernanke  • Bear Stearns  • JPMorgan Chase

    • Fed Cuts Bank Discount Rate to Boost Liquidity

      newser  |  Associated Press  |  Mar 16, 08 7:21 PM CDT

      Fed Cuts Bank Discount Rate to Boost Liquidity

      The Federal Reserve raced to buck up an anxious financial sector today by cutting its discount rate to banks by a quarter point, to 3.25%, the AP reports. It also created a new lending facility to aid investment banks with short-term loans. The moves are "designed to bolster market liquidity and promote orderly market functioning," the Fed said. "Liquid well-functioning markets are essential for the promotion of economic growth." More »

      Tags

      US economy  • Federal Reserve  • Ben Bernanke  • interest rate cut  • liquidity  • federal loans

    • Bernanke Tosses Out His Rule Book

      newser  |  New York Times  |  Mar 16, 08 9:19 AM CDT

      Bernanke Tosses Out His Rule Book

      With a recession and worsening meltdown on Wall Street looming, Fed chief Ben Bernanke has dumped textbook central bank economic policy, reports the New York Times. Last week's bailout of Bear Stearns, for example, seemed to fly in the face of his previous reluctance to rescue big institutions. And it came in the same week the Fed made $200 billion available to investment banks and another $100 billion for banks and thrifts. More »

      Tags

      Federal Reserve  • recession  • Wall Street  • Ben Bernanke  • Bear Stearns  • interest rate  • credit market

    • Wounded Bear Scrambles for a Savior

      newser  |  Wall Street Journal  |  Mar 15, 08 3:38 PM CDT

      Wounded Bear Scrambles for a Savior

      What's next for Bear Stearns? A Wall Street institution for the better part of a century, it is now scrambling to find a buyer. Its best hope is JP Morgan, which provided a temporary lifeline yesterday along with the Fed. But other possible suitors include Citibank and HSBC, the Wall Street Journal reports. In a sign of the times, the Journal notes that Bear's single biggest asset might be its building—the Madison Avenue digs could fetch $1.2 billion. More »

      Tags

      Federal Reserve  • Wall Street  • subprime crisis  • Bear Stearns  • JPMorgan Chase  • Citibank  • HSBC  • emergency funding  • Madison Avenue

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