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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: financial crisis

financial crisis stories: 1641 news summaries

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THOMAS FRANK

Give Thanks We're Not Thanking Wall St.

Be grateful for new skepticism on financial industry

Nov 25, 09 8:04 AM CST
(Newser) - There won't be a lot of people thanking the financial industry this Thanksgiving, and that in and of itself may be cause to be thankful, writes Thomas Frank. There's been a shift in thinking and newly skeptical Americans no longer believe that the market is omniscient or that colossal Wall... More »

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Bush administration • stock market • recession • bank regulation • financial crisis • George W. Bush Policy Institute

NO DIMON IN THIS ROUGH

Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah

Jamie Dimon not in tune with Obama, too invested in big banks

Nov 23, 09 10:00 PM CST
(Newser) - A report today that JPMorgan Chase CEO Jamie Dimon has the inside track to replace Timothy Geithner as Treasury Secretary is getting mostly guffaws online, with even the conservative Wall Street Journal admitting that Dimon’s way too much an insider for the job just now. Indeed, chuckles Daniel Indiviglio... More »

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Wall Street • consumer protection • rumor • JPMorgan Chase • Obama administration • Treasury secretary • financial crisis • Jamie Dimon • President Obama • Timothy Geithner • Obama Cabinet • big banks

 Congress' New 
 Whipping Boy: 
 The Fed 

Bernanke & Co. run into populist ire over Wall St bailouts, unemployment

Nov 23, 09 8:54 AM CST
(Newser) - When Fed Chair Ben Bernanke goes before Congress next month seeking a second term, he'll run straight into cantankerous legislators riding a tide of populist rage over the Wall Street bailout and high unemployment. While the Fed acted decisively to bail out the financial markets last year, it's widely viewed... More »

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Congress • Ben Bernanke • Congressional oversight • Federal Reserve • Ron Paul • unemployment • populist • financial crisis • Wall Street bailout • anger Federal Reserve

Debt-Happy US Faces Payback Time as Rates Rise

Cost of debt to skyrocket $500B in next 10 years

Nov 23, 09 7:29 AM CST
(Newser) - Like a homeowner heading for mortgage default as interest rates rise, the US is heading for a nasty shock as cheap national debt suddenly becomes much more expensive. The White House estimates that the cost of servicing our $12 trillion debt will be more than $700 billion a year by... More »

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national debt • mortgage defaults • financial crisis • government debt • debt payment

DAVID BROOKS

 Geithner Got It Right 

Treasury secretary's pragmatic approach to financial crisis paid off

Nov 20, 09 5:16 AM CST
(Newser) - David Brooks leaps to the defense of Tim Geithner today, arguing that the treasury secretary's critics, who last spring were dismissing him as a hapless "Bambi in the headlights," were mostly wrong and he was mostly right. The system is now much healthier, TARP money is being repaid,... More »

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Obama administration • Treasury secretary • financial crisis • Timothy Geithner • TARP

 Fed Report 
 Rakes Geithner 
 Over AIG Bailout 

He's accused of handing AIG creditors 'backdoor bailout'

Nov 17, 09 4:18 AM CST
(Newser) - Tim Geithner did a lousy job of looking out for the interests of taxpayers during the AIG bailout last year, according to a report from a federal oversight group. Geithner, then head of the Federal Reserve Bank of New York, made no attempt to renegotiate AIG's debts, effectively giving the... More »

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Federal Reserve • AIG • Federal Reserve Bank of New York • financial crisis • Wall Street bailout • New York Federal Reserve Bank • Neil Barofsky

Largest US Gay Newspaper Publisher Closes

Window Media papers included Washington, South Fla. Blade

Nov 16, 09 7:41 PM CST
(AP) - The largest US publisher of newspapers serving the gay and lesbian community has shut down and plans to file for bankruptcy. Employees arrived at work today to find out about the sudden end to the newspapers—including Southern Voice, the Washington Blade, Houston Voice and South Florida Blade—owned by... More »

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print journalism • financial crisis • newspapers • Window Media • gay media • Southern Voice • Washington Blade • South Florida Blade • Village Voice

 Buffett: 
 'Financial 
 Panic Is 
 Behind Us' 

He sounds optimistic note at Columbia University forum

Nov 12, 09 9:14 PM CST
(Newser) - Warren Buffett says the worst is over. "The financial panic is behind us," he declared at Columbia University. The Berkshire Hathaway chief acknowledged that the US economy "still is sputtering some," but he sounded a bullish note on investment opportunities around the globe. While he gave... More »

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Warren Buffett • recession • Berkshire Hathaway • panic • financial crisis


 Fed Restricts Overdraft Fees 

Customers must opt in for coverage of ATM, debit transactions

Nov 12, 09 1:06 PM CST
(Newser) - Starting in July, banks will have to get consumers' explicit consent before authorizing an overdraft—and the accompanying fee—on debit and ATM card transactions. Since the advent of the financial crisis, overdraft fees have become the biggest source of consumer fee income for banks. Congress is also considering making... More »

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Ben Bernanke • Federal Reserve • debit card • ATM • financial crisis • overdraft fee

9 Other States Have Calif.-Sized Fiscal Messes

Ariz., Fla., Ill., Mich., and NJ among others facing crises

Nov 11, 09 8:14 PM CST
(Newser) - California has by no means cornered the market on enormous financial problems at the state level, with a report out today saying Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, and Wisconsin are also at tremendous risk. The Pew Center sees widespread unemployment, huge budget deficits, and the... More »

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Florida • California • Wisconsin • Arizona • New Jersey • Michigan • foreclosure • recession • Oregon • unemployment • Illinois • Nevada • Rhode Island • budget deficit • financial crisis

Times Star Sorkin: Too Cozy With
Wall Street?

Colleagues clash with Too Big to Fail author

Nov 9, 09 12:21 PM CST
(Newser) - Andrew Ross Sorkin isn't the only entrepreneurial writer in the New York Times stable, but he might be the most successful, with his DealBook blog and newsletter, his Times column, and now his bestseller, Too Big to Fail making him ubiquitous in the media these days. “It’s hard... More »

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Wall Street • New York Times • journalism • Graydon Carter • financial crisis • Andrew Ross Sorkin • Too Big to Fail • business reporting

Half of US Kids Will Get Food Stamps at Some Point

Figure hits 90% for black children, study finds

Nov 2, 09 9:29 PM CST
(AP) - Nearly half of all US children and 90% of black youngsters will be on food stamps at some point during childhood, and fallout from the current recession could push those numbers even higher, researchers say. The estimate comes from an analysis of 30 years of national data, and bolsters other... More »

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African Americans • children • recession • poverty • children's health care • food stamps • financial crisis • women's issues

Sunday Talk shows


 Geithner: 
 Recovery 
 Could Be 
 'Choppy' 

Tells NBC that financial crisis caused 'a lot of damage'

Nov 1, 09 6:56 AM CST
(AP) - Timothy Geithner says the US economy has suffered a lot of damage in the current downturn, and it's going to take time before it fully recovers. The treasury secretary said on NBC's Meet the Press that creating jobs and regaining the confidence of investors will be the real test of... More »

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Meet the Press • financial crisis • Timothy Geithner • economic recovery

ANALYSIS

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

Oct 29, 09 8:07 PM CDT
(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and... More »

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recession • unemployment • consumer spending • economic stimulus package • consumer confidence index • US gross domestic product • financial crisis • Cash for Clunkers • disposable income

Economy Grows in Q3, Signals End of Recession

Tenuous 3.5% growth is best showing in two years

Oct 29, 09 7:55 AM CDT
(AP) - The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. The Commerce Department's report today delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the... More »

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economic growth • economic indicators • recession • economy • financial crisis

 Soros to Spend 
 $50M to Reinvent 
 Economics 


Fund manager's think tank charged with reinventing the field

Oct 28, 09 9:44 AM CDT
(Newser) - George Soros has decided to spend $50 million to launch a new think tank charged with reinventing the field of economics, which the Hungarian-American billionaire calls "a dogma whose time has passed." The Institute of New Economic Thinking, whose board members include luminaries such as Joseph Stiglitz and... More »

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economics • Alan Greenspan • George Soros • laissez faire economics • Joseph Stiglitz • financial crisis • Jeffrey Sachs

  Geithner 
 to Bankers: 
 Crackdown 
 Is 'War' 



Treasury secretary tells Wall Street it must accept regulation

Oct 28, 09 7:30 AM CDT
(Newser) - Tim Geithner had tough words for Wall Street bankers yesterday, telling the financial industry's annual conference that they had no credibility to protest new regulation. The Treasury secretary said government had a responsibility to crack down on dangerous practices on the Street and design new laws allowing seizures of institutions... More »

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Wall Street • US dollar • economic stimulus package • bank regulation • Treasury secretary • financial crisis • Timothy Geithner

POLL NUMBERS

Afghan Surge Gains Favor; Public Sours on DC

Support for public option also grows; GOP isn't more popular, though

Oct 27, 09 6:20 PM CDT
(Newser) - New poll numbers out today hold good news and bad for the Obama administration. Support is rising for a troop surge in Afghanistan, the NBC/Wall Street Journal survey finds, and nearly half now favor a public option in the health-care reform measures now under consideration. The bad news: 58% said... More »

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Iraq • troop surge • Republican Party • health care reform • Afghanistan war • opinion polls • Obama administration • NBC News/Wall Street Journal • financial crisis • President Obama • public option

 Ousted AIG CEO 
 Builds AIG 2— 
 With AIG Talent 

Greenberg's new insurer poaches AIG employees at taxpayers' expense

Oct 27, 09 7:47 AM CDT
(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules... More »

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Iraq • executive compensation • insurance • AIG • Hank Greenberg • bailout • financial crisis

DAVID BROOKS

 Get a  Clue, 
 Washington: 
 You Can't Do 
 Everything 

Effort to restructure exec pay smacks of arrogance

Oct 27, 09 5:10 AM CDT
(Newser) - Clamping down on arrogant, risk-taking execs with an overconfident attempt to overhaul private sector pay structures shows that the arrogance has migrated to the Obama administration, writes David Brooks. The government is trying to micro-manage compensation packages at a wide variety of firms when pay regulation should be done, humbly,... More »

MORE ABOUT:
executive compensation • Treasury Department • financial sector • David Brooks • Obama administration • financial crisis

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