Time's 'Person of the Year': Ben Bernanke
ABC News (Australia)
Transcript
we always try to find the person who for good or for ill is the most influential in the year Ben beri on first glance might seem like kind of a colorless bureaucrat in fact he's immensely powerful he's immensely thoughtful you see in the interview and Time Magazine he's someone who recognized the historic importance of what he was doing at time we considered a number of other people Nancy Pelosi an influential speaker that has a a historic speaker as the first woman we considered her Chinese workers were group we considered as person of the year because the Chinese economy is such a big engine for World growth General mccristal the architect of the president's new Afghanistan policy also all under consideration but in the end the economy was the big story Ben Bernan the big figure
Restoring banking integrity
CNN
No transcript available for this clip.
Students in the recession
CNN
No transcript available for this clip.
Fed Holds Rates at Record Low to Fuel Recovery
Associated Press
Transcript
As Americans see signs of Hope in the economy the Federal Reserve is doing what it can to continue to encourage the economic recovery and is continuing to pledge that rates will be kept low for an extended period those low rates have been credited for helping to lift the housing market out of its slump and recent reports on retail sales have continued to point to a better than expected showing economists say that likely means that rates won't be headed higher until the second half of next year as it wrapped up its two-day policy setting session the FED said the economy has continued to pick up the most recent report from the government on unemployment indicated that the unemployment rate is beginning to go down and the FED takes note of that saying that job Cuts have begun to slow it also says that inflation is not a threat Mark habri the Associated Press Washington
Paying Back TARP Money
CBS
Transcript
as City Group began selling New stock to repay 20 billion in borrowed tarp Money The White House acknowledged Today The Bank was being Let off the Hook for billions in taxes President comfortable with this Tax Break or whatever you want to Call it The IRS Made that decision UH and it allows City Group to Pay Back The United States the money that It was owed the IRS waiver allows City Group to get up To A 38 billion right of Against the money it Lost in the Crisis potential Tax savings several billion dollars It All seems To be a little bit of a Counting Slide of Hand UH Where The taxpayer yet Again loses with this administration but All nine of the country's Major Banks have Now announced Plans to Pay Back their tarp loans overall The treasury estimates taxpayers Will make a 19 billion profit from interest payments The White House has been anxious to get the government Out of the financial industry and the Banks Back on their feet but The Balance sheets of these Banks Are Still impaired analyst Paul Miller says The Banks Still Hold billions of dollars in Bad mortgage loans on their books by One estimate nearly 7 Million mortgages are in Trouble and could be headed for foreclosure the Balance sheet Still have a lot of losses in them and It's going to take a couple years to Fix those losses so No we're not completely Out The woods yet but we're in a much Better condition Today than we were a Year ago That's Because The Credit Markets are Moving Again but if mortgage losses were to suddenly surge in the Next 18 months Banks could End Up back in Washington Looking for more Help Katie Anthony mason Anthony Thank you
Revisiting the Economics of John Maynard Keynes | PBS NewsHour
PBS NewsHour
No transcript available for this clip.