CORRESPONDENTS
Kevin Hall
White House may tap Treasury funds to help automakers
The Bush administration will weigh its options over the weekend, deciding how best to proceed with its promise to keep Detroit automakers out of bankruptcy. | 12/12/08 11:54:00 By - Kevin G. Hall and David Lightman
Consumer confidence plunges amid heightened job anxiety
Consumer confidence has dropped to near the all-time lows witnessed during this year's record energy prices, driven down anew by anxiety over job losses, according to a new poll of consumer attitudes released Thursday. | 12/11/08 17:27:00 By - Kevin G. Hall
Poll: Most Americans plan to spend less this Christmas
A slight majority of Americans intend to spend less on gifts this Christmas than they did last year, but half plan to spend at least $500, according to a new Ipsos/McClatchy survey released Wednesday. | 12/10/08 16:59:00 By - Kevin G. Hall
'Car czar'? Auto-crat would be more like it, some critics say
Congress is weighing the appointment of a "car czar" with potentially far-reaching power over American automakers. Some business advocates find it heretical that a government bureaucrat or bureaucrats could determine what is or isn't in the best interest of a private company's long-term viability. | 12/09/08 18:24:00 By - Kevin G. Hall
Big Three auto bailout would put U.S. in driver's seat
The plan, which Congress is likely to consider later this week, would give the government authority over major decisions by the automakers. General Motors, Ford and Chrysler would have to report progress to Congress regularly and come up with a long-term restructuring plans by March 31. The government would also set executive pay. The companies couldn't own private aircraft. | 12/08/08 18:59:00 By - David Lightman and Kevin G. Hall
At 13 months and counting, no one sees end to recession
Now that the U.S. economy officially has been in recession for a year, it's certain that this downturn will be deeper and more punishing than the past two, in 1990-91 and 2001. That makes it harder to gauge where the end may be and what's necessary to restore the world's largest economy to health. | 12/07/08 06:00:00 By - Kevin G. Hall
Big jobs losses point to deepening recession
November dealt a one-two punch to the U.S. economy, as employers shed more jobs than any month since December 1974 and mortgage delinquencies and foreclosures leapt to their highest quarterly totals since records have been kept, new reports showed Friday. | 12/05/08 10:00:00 By - Kevin G. Hall
Are sweeping changes coming for mortgage finance?
His comments came a day before the Mortgage Bankers Association is expected to report record mortgage delinquencies and foreclosures from July to September. Among the steps, Bernanke suggested that lenders need to write down the principal of loans owed by homeowners whose property is worth less than the amount they owe. | 12/04/08 18:23:00 By - Kevin G. Hall
Union concessions may improve prospects for auto bailout
On the eve of congressional hearings, union leaders agreed to give the Big 3 carmakers more time to make pension contributions and will suspend a program that let laid-off workers collect most of their salary. But key congressional leaders still weren't willing to say whether the carmakers will get the aid they are seeking. | 12/03/08 17:53:00 By - David Lightman and Kevin G. Hall
Pelosi says Congress won't let Big 3 carmakers go bankrupt
Their fates now in the hands of lawmakers, Detroit's Big Three automakers are girding for congressional hearings later this week to determine if they'll receive a government bailout of as much as $34 billion or face the prospect that at least one of them might file for bankruptcy. They got an important declaration of support from House Speaker Nancy Pelosi on Tuesday. | 12/02/08 14:18:28 By - Kevin G. Hall and David Lightman
Summers brings experience in crisis to economics role
Lawrence Summers', Barack Obama's head of the National Economic Council, led the Treasury Department during the final two years of the Clinton administration. He was one of the key decision-makers during the global financial crisis sparked by Mexico's collapse in 1994 and during the Asian and Russian crises in the late 1990s. | 11/24/08 14:33:00 By - Kevin G. Hall
Housing is bad enough, but wait — it'll get worse
If you think the housing slump can't get much worse, Martin Feldstein thinks that both home prices and the broader economy can — and very likely will — get a whole lot worse. The Harvard University professor and former chief economic adviser to Ronald Reagan isn't part of the crowd that continually forecasts doom. So when he says that one in four U.S. homeowners owe more money than their home is worth, it's worth taking note. | 11/23/08 06:00:00 By - Kevin G. Hall
Just the name Geithner made stocks soar. Why?
New York Federal Reserve Bank President Timothy Geithner is expected to be President-elect Barack Obama's choice to head the Treasury Department. Reports of his selection sent stocks soaring at the close of trading Friday. | 11/21/08 19:12:00 By - Kevin G. Hall and Margaret Talev
Despite hard times, retailers expect holiday-sales growth
The economy appears headed toward the deepest recession in modern times, consumer confidence is at record lows and personal wealth is being destroyed daily on Wall Street. Against that backdrop, retailers must convince weary Americans to pull out their wallets and shop this holiday season. | 11/21/08 18:13:00 By - Kevin G. Hall
Why not let Detroit's Big Three go bankrupt?
To hear the chief executive officers of Detroit automakers and union leaders tell it, bankruptcy and economic hellfire await if lawmakers don't craft a government bailout for them, soon. So what? | 11/18/08 18:59:00 By - Kevin G. Hall
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