President Obama faces a tough week: In addition to possibly unveiling a new bank and housing bailout, the Senate will take up its version of the economic stimulus package.
The Senate Finance committee will meet Monday to review the tax records of former Sen. Tom Daschle, President Barack Obama’s nominee for secretary of Health and Human Services who, according to sources, didn’t pay taxes on a car and driver he had been loaned.
The U.S. economy suffered its biggest slowdown in 26 years in the last three months of 2008, according to the government’s first reading about the fourth quarter released Friday.
Three regional banks were closed Friday, bringing the total number of failed banks this month to six, as the financial crisis continues to take a toll on small banks nationwide.
One day after President Barack Obama ripped Wall Street executives for their “shameful” decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
Banks are looking for a second chance to dump some toxic waste from their balance sheets on the hope that the Obama administration will set up a “bad bank” to buy massive amounts of their troubled assets.
The Big Apple will have to tighten its belt as the city that leans heavily on Wall Street’s profits is expected to suffer a dramatic decrease in tax revenues in coming years.
At first glance, the fourth-quarter GDP report released earlier today produced a moderate surprise in that it didn’t show a contraction quite as deep as had generally been expected by most private economists.
Facing new evidence of a darkening economic climate, President Barack Obama on Friday established a new middle-class task force to assess the status of average-income Americans and recommend new ways to strengthen the economy.
In a brutal week for the job market, an assortment of companies across various industries announced more than 100,000 job cuts.
