Posted under News
Federal Reserve Chairman Ben Bernanke told a panel examining the U.S. financial crisis that he had no options to prevent Lehman Brothers’ failure in September 2008 even though he knew its downfall would be “catastrophic” to the financial system and economy.
The Lehman failure set off severe market turmoil, spurring debate about whether the government should have done more at the time to halt the investment bank’s collapse. Speaking to the Financial Crisis Inquiry Commission on Thursday, Mr. Bernanke said legal and practical considerations prevented taking action, even though “I never at any time wavered in my view that we should do absolutely everything possible to prevent the failure of Lehman.”
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Analytics
Question: Looking into the future of the American economy, I see tons of debt, the yoke of increasing social spending, pork-fed bureaucratic waste, the exporting of jobs and the importing of poverty. While this may paint a negative picture, I feel it’s reality. We all want to be patriotic, but aren’t there more fiscally responsible [...]
Opinions
Should we blame newspapers for talking down the U.S. economy, maybe even to the cusp of a double dip?
That’s the contention of equity bulls. They argue that, despite reasonably solid fundamentals, the media’s unrelenting gloominess about the state of the world is proving a drag on sentiment. Declining consumer and business confidence will then cause [...]
News
U.S. consumer confidence unexpectedly rose to 53.5 in August, the Conference Board said, as Americans became somewhat more positive about the short-term outlook for the economy.
A Bloomberg survey had expected the index to rise to 51.0 in August from 50.4 in July. It hit a record low of 25.3 in April 2009.
In August, two of [...]
Analytics
Bigger, as the Federal Reserve may soon discover, is not always better.
The prospect of a renewed effort by the U.S. central bank to drive down already super-low borrowing costs raises the issue of whether such measures can help stimulate a recovery that is faltering due to a lack of consumer demand.
The sorry state of the [...]
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