Winston Salem Journal

Financial Meltdown

Financial Meltdown

Meltdown
AP Photo

October 31, 2009
• Shoppers spent less last month

October 17, 2009
• '09 deficit $1 trillion higher than 2008's

• Budget deficit grabbing big chunk of economy

October 16, 2009
• Problems in a Program: Mortgage-renegotiation plan lacks safeguards for rejected applicants

October 3, 2009
• Jobs view still dim; despite the recovery, most businesses aren't ready to rehire

September 24, 2009
• Finance reform to be revised

September 03, 2009
• More To Do: Companies need ways to make money beyond job cuts and savings, analysts say

September 02, 2009
• Bank of America wants to return TARP money

September 02, 2009
• Cranking It Up: Manufacturing grows after 19 months

August 28, 2009
• A Hint of Recovery: Report shows economy shrank at an annual rate of just 1 percent in 2nd quarter

August 27, 2009
• Moving Up: Sales of homes, cars and equipment rose by largest sum in years, U.S. says

August 22, 2009
• Positive Note: Bernanke delivers cautiously optimistic message on return of economic growth

August 12, 2009
• Productivity up, labor costs down

August 11, 2009
• Slow to Hire: Economy shows signs of improving, but recovery of job market will take a while

August 5, 2009
• Tight Wallets: Consumer spending unlikely to lead the way toward regrowth of economy

July 24, 2009
• Some Mixed Messages: New jobless claims rise, but jobless-benefits rolls fall and housing sales climb

July 21, 2009
• Progress forecast: June growth best since 1st quarter in '06

July 17, 2009
• New jobless claims down again, or are they?
'Temporary shutdowns at auto plants are skewing government's numbers

July 15, 2009
• Wholesale prices, retail sales both rise
'Rogue spike' in gasoline prices played a big role in increase, according to economists

July 03, 2009
• June jobs loss rises: Unemployment reaches 9.5%; weekly wages fall

June 27, 2009
• Jobless rate goes up in Triad
Numbers for May point to rocky economic recovery, professor says

June 19, 2009
• Skepticism greets Obama's regulation plans
Senators express doubts on whether proposals would prevent another crisis

June 18, 2009
• Obama proposes big changes to financial-oversight system
He wants new consumer-protection office

• Price Check: Consumer prices increase more slowly than was expected, thanks to recession

June 17, 2009
• Home construction jumps 17.2 percent

June 11, 2009
• Wells Fargo not yet ready to pay back TARP money
Integrating Wachovia is their first priority, bank officials say

June 09, 2009
• Repaying TARP has own fallout

June 06, 2009
• Layoffs 'less bad' but not 'good'
Hiring is not expected to rise until late in 2010

June 05, 2009
• Jobless claims dip slightly
Economists expect unemployed to continue to grow into 2010

June 03, 2009
• Existing-home sales are well up

May 29, 2009
• Housing crisis spreads the pain: Borrowers with good credit falling behind, facing foreclosure

May 28, 2009
• California, in desperate move, asks for federal loan guarantees

April 25, 2009
• 2 reports fuel hopes that slide is slowing
Durable goods, home sales top expectations

April 22, 2009
• Banks termed still in trouble
Geithner reports to panel of overseers as skepticism on bailout effort increases

April 21, 2009
• Mighty, Small: Smaller banks complain about changes

• Analysts still worried about health of banks

April 18, 2009
• Recovery months away, experts say
They caution that recent signs of hope don't mean end in sight

April 16, 2009
• Federal Reserve survey finds faint signs of recovery

April 15, 2009
• 'More Pain' to Come: Obama warns of of pitfalls as data bumps into hopes

April 10, 2009
• Experts: Economy may be leveling
Indicators positive, they say, but pain hasn't ended

March 30, 2009
• Geithner promotes plan
'The great risk for us is we do too little,' he says

March 29, 2009
• Obama's moves extend beyond the current financial crisis
Government's role will be broadened to fit long-term vision

March 28, 2009
• Obama meets with top bankers over loan problems

March 27, 2009
• Big Hammer: 'Bold move' quickly runs into GOP wall

• ANALYSIS: Crisis stems from changes years ago

• Banks find TARP cash comes with headaches
Many want to pay back the U.S. government as soon as possible

March 26, 2009
House panel endorses Obama’s ambitious budget plan

March 25, 2009
• Officials: Increase regulation: Geithner, Bernanke call for powers to deal with institutions like AIG

March 24, 2009
• Wall Street gets its tonic
Stocks jump on news of government plan to help buy banks' toxic assets

• What are toxic assets, and how will Obama plan work?
Hope is that private investors will revive market for securities

• Bank, housing news puts Dow up about 500

March 21, 2009
• Deficits figured at $9.3 trillion
CBO projections higher than the administration's

March 20, 2009
• House OKs 90% tax on AIG bonuses
Obama quickly signals his support for concept

• AIG Bonuses: Geithner, Dodd play the blame game

• Historic Low Rates: Fed's action leads to rates of under 5%

• How's It Work? Fed's spending boosts Treasuries, which lowers rates

March 19, 2009
• Pressure grows for return of AIG bonuses
Threats of subpoenas and new taxes greet head of company at tense hearing

• Going Up - Again: Economists say news calms fear of deflation, inflation

March 18, 2009
• Housing starts post surprising rise in February

March 17, 2009
• Obama vows to try to stop AIG bonuses
'It's about fundamental values,' he says

March 14, 2009
• Obama team touts 'post-bubble' model
President: Days of maxed-out credit over

March 13, 2009
• Obama: 'Not as bad as we think'
He says his plans will speed recovery

March 12, 2009
• Dell cuts, job loss a double whammy
Experts say it will likely get worse before it gets better

March 9, 2009
• Also suffering are those with reduced paychecks
They're the ones who are not eligible for federal benefits that are safety net for the unemployed

• Familiar Ground: Recessions not new to U.S., but this one might be one of the worst, experts say

March 8, 2009
• Recovery won't be coming soon, economists say
Turning point can be obscure

March 7, 2009
• Jobless rate rises to 8.1%
Figure would be higher if workers reduced to part time were counted

March 6, 2009
• Homes lost to default surge
Rise in job loss, not risky loans, now responsible for record rate of foreclosure

March 3, 2009
• Billions more in government aid headed to AIG
Preventing company's collapse is necessary, officials say, to save markets around world

• PERSPECTIVE: AIG's loss biggest in corporate history

February 21, 2009
• Obama warns mayors not to waste stimulus cash
Taxpayers want it to go to its intended purpose, he says

February 14, 2009
• Stimulus package passed
Votes in both houses split almost entirely by party

February 5, 2009
• Stimulus bill now includes tax break for homebuyers

• Obama curbs executive pay for bailout recipients
Salaries to have mandatory cap of $500,000

February 4, 2009
• Tax break aimed at car buyers
Incentive part of Senate changes in stimulus package

• One thing certain about stimulus: whopping debt
It would add $40 billion to $450 billion Treasury now pays in yearly interest

January 31, 2009
• Economy continues its slide
Wary consumers cut back on spending; economy falls 3.8%

• Triad unemployment nears 25-year high
Economists warn that it will likely continue its climb well into the year

• Analysis: Stimulus bill is full of irrelevant items
Legislators are using it for old projects

January 30, 2009
• Bad gets worse on economy
Percentage of people getting jobless benefits at 25-year high

• GOP weighs the political risks of opposing the stimulus plan

January 29, 2009
• Stimulus bill passes in House
$819 billion plan will create 3 million jobs, Obama says; GOP disagrees

• Stimulus bill would bring $1.9M to aid N.C. budget

• Treasury Department will post bank-bailout contracts online

January 28, 2009
• Obama pitches his economic plan on Hill
GOP says he promises to study proposed changes

January 27, 2009
• Big-time slashing: 50,000 jobs cut
Reports: More job losses, cost-cutting moves will come

January 25, 2009
• Economy problems hit the Super Bowl
Fewer writers, smaller parties in Tampa

January 24, 2009
• Democrats press on with stimulus plan
Republicans' ideas faces stiff opposition

January 23, 2009
• 2 reports point to more pain in the economy
Home building, jobless claims are both worse than expected

January 17, 2009
• Obama presses plan for jobs that won't be exported
Renewable energy is an example, he says

January 16, 2009
• House offers an $825 billion package
Stimulus plan would affect every American

January 15, 2009
• State cutbacks could crimp plans to boost economy, legislators sayy

January 14, 2009
• Congress gets veto warning from Obama
The president-elect says he will not be denied $350 billion for bailout program

January 14, 2009
• Congress gets veto warning from Obama
The president-elect says he will not be denied $350 billion for bailout program

January 11, 2009
• College graduates fare better than others in bad economy
Their unemployment rate is about half that found in the overall work force

January 10, 2009
• 2.6 million job losses in 2008
U.S. unemployment at 16-year high

• Democrats press Obama for changes; he says he welcomes ideas

January 9, 2009
• Obama's economic plan gets panned
Both parties find parts they dislike

January 8, 2009
• Obama wants plan to control spending
He names choice for new post of chief performance officer

January 5, 2009
• Bankers, Chamber forecast state economy in 2009

January 1, 2009
• Economy and election tie for top spot

December 30, 2008
• Poor economy affects private colleges
Some have cut courses, delayed construction and reduced faculty

December 25, 2008
• Economic reports show worries about money and jobs

December 24, 2008
• Economic activity may fall 6% this quarter
It would be biggest decline since '82; things likely to get much worse before improving, analysts say

December 23, 2008
• Crumbling economy causing consumers to spend less and change holiday travel plans

December 9, 2008
• FexEx cuts 2009 forecast, cites slumping economy

• Higher rate of child abuse coincides with bad economy

December 6, 2008
• 533,000 jobs lost
U.S. jobless rate climbs to 6.7%, a 15-year high

December 4, 2008
• UAW agrees to help Big 3
Leaders OK concessions to help save automakers

December 3, 2008
• Troubled automakers deliver their game plans to Congress
GM says it needs $4B now; 'No Plan B,' exec says

December 2, 2008
• Recession: A year old; Dow sinks

November 26, 2008
• Two-step strategy
Jobs plan is priority right now

• U.S. unholsters $800 billion gun
Government hopes to lower cost of consumer loans

November 25, 2008
• Obama sets goals
He asks Congress to pass job-creating stimulus bill, names his economic team

• The last rescue?
It's uncertain if other banks will need help

• Housing groups come knocking
More aid sought to lower mortgage rates as sales, prices continue their slide

November 24, 2008
• Obama wants bill ready by Jan. 20
He plans a big economic stimulus package

November 22, 2008
• Geithner is likely choice at Treasury
Obama is expected to announce his pick of N.Y. Fed chief on Monday

November 21, 2008
• Longer jobless aid is OK'd
Congress reacts to high unemployment claims

• Workers in N.C. await news on Wachovia jobs
Cuts are expected in Charlotte operations

November 20, 2008
• Market hits 8,000 and keeps dropping
Sharp drop in consumer prices has many economists fretting about possibility of deflation

November 15, 2008
• Summit results may be slim
Bush is host to 20 foreign leaders in discussions on economic crisis

November 14, 2008
• Deficit numbers skyrocket
Quarter-trillion-dollar shortfall in October alone darkens outlook

• Boats abandoned by their owners as economy founders
Deteriorating pleasure and working vessels raise environmental concern on both coasts

• Bush: Don't blame capitalism
He warns world leaders about the risks of government intervention in crisis

November 13, 2008
• Bush administration shifts focus of bailout program

November 11, 2008
• Package to help AIG grows to $153 billion
Others, including the big automakers, want piece of the pie

November 8, 2008
• 10.1 million without work

November 7, 2008
• Obama limited in dealing with financial crisis
Besides pushing Democratic Congress, he must wait to take office before acting

November 6, 2008
• U.S. plans to borrow $550B to back bailout

November 5, 2008
• Seeing Hope? Financial news gets worse, debt is exploding, but Dow surges 305 points

November 4, 2008
• More borrowed money planned
Government says it will need another $550B by year's end

November 2, 2008
• Few industries well insulated against a severe downturn
Health care, defense, food, tobacco, alcohol tend to hold up

November 1, 2008
• Figures indicate more evidence of a recession
Consumer spending, consumer confidence fall sharply

October 31, 2008
• Figures show tough times
'The train went off the tracks,' economist says

October 30, 2008
• Fed cuts key rate to battle slump
Bailout money now flowing to banks, Treasury reports

October 28, 2008
• Down Again: Markets fluctuate before plummeting

October 26, 2008
• Jobs are falling one after other across economy
Even business mainstays are affected

• Bailout changes 'beyond troubling'
Legislators angry that money may go to unintended uses

October 25, 2008
• Wall Street avoids panic
312-point loss counts as good on a day of steep declines around world

• Immigrants are heading south - right behind U.S. economy
Mexico expects the return of thousands who couldn't find jobs

October 24, 2008
• 'A flaw in the model' faulted, says Greenspan
He says he made an error in assumption

October 23, 2008
• Earnings reports rattle stocks
Dow falls 514 points; Treasury chief says difficult months are still ahead

October 22, 2008
• Money-market funds get aid
Fed to provide up to $540B in new program as it works to break the credit logjam

October 21, 2008
• Officials open to stimulus package
Fed strongly recommends government intervention to pull country out of slump

October 19, 2008
• Bush plans to lead an economic summit

October 18, 2008
• Fewer houses being built
Rate is lowest at any time since WWII's end

October 17, 2008
• Analysts: Lending loosens up a bit
Market turmoil has many foreseeing slow recovery

• Credit crisis threatening tenants who have paid their rent on time
Many must move because landlords being foreclosed on

October 16, 2008
• Retail report causes sell-off
Stocks fall on news of slowdown in sales and manufacturing

• Climate pact facing uphill battle
Some nations asking for relaxation of standards

October 15, 2008
• Mind Matters: Buying into banks has psychological role, too

• Focus of bailout is on banks
Feds hope $250 billion injection will help sickly credit markets

October 14, 2008
• Bush would invest money
He plans to spend billions on stock in private banks

• Government bid to prop up banks has precedents

• Icelanders struggling to cope with meltdown
Once-popular 'breadbasket' loans have become crushing debts

October 13, 2008
• We're all in this together, Paulson tells world leaders

October 12, 2008
• Bush, others show unity
Finance ministers and president vow action

October 11, 2008
• Falling commodity prices threaten Latin America
Coffers filled by raw-material sales could be depleted

• Paulson: Time like no other
U.S. will buy shares in variety of banks desperate for cash

October 10, 2008
• DOWn Again: 'Panicked market' is barreling south
6th-straight triple-digit loss a first

• States tighten their belts amid financial woes
They have cut budgets, frozen hiring and put projects on hold

October 9, 2008
• Dow falls six days straight
Fed cuts interest to lowest rate in four years to help credit flow

• Europe focuses on financial crisis
Britain to invest billions in banks, building societies

• Iceland's 3rd-largest bank is in receivership as economy falters
Government gives up attempts to stop free-falling currency

October 8, 2008
• Fed invokes powers to help businesses
It will buy up short-term debt they use for payroll, everyday expenses

• Retirement plans are taking a very big hit

October 7, 2008
• World's financial markets anxious about rescue plan
U.S. working fast to move money into banking system

October 5, 2008
• U.S. meltdown being felt the world over
Wall Street crisis has hurt ordinary people in other countries

October 3, 2008
• N.C.'s nine not likely to change their minds on bailout plan

September 26, 2008
• Bailout plan loses its footing
After meetings, no deal yet on $700B proposal

September 25, 2008
• 'America could slip:' Bush says bailout plan vital for U.S. economy

• Bad Deal? BB&T chief takes issue with bailout

September 24, 2008
• Panel defies pressure for fast action on bailout

• Bailout: White House agrees to limits on executive compensation

September 23, 2008
• What do you want to know about the financial meltdown?

• Candidates want a bailout, only with more oversight
McCain, Obama try to keep money out of exec, lobbyist hands

September 22, 2008
• Congress is urged to move fast on $700 billion bailout

September 21, 2008
• Paulson would manage the plan
Bush to Congress: Quickly approve a 'clean' rescue bill

September 20, 2008
• A roller-coaster week
Markets stabilize; investors rush back

September 19, 2008
• After the bailout vote, both parties call for new effort on problem

• Market rallies at sign of planNew legislation may lift bad debts off bank books

September 18, 2008
• Financial meltdown spurs new Dow drop
Stocks plunge another 450 points as investors become more jittery

September 16, 2008
• 'Here it is, and it is pretty nasty:' Investors lose billions as market falls; AIG, other giants stumble

September 5, 2008
• Greenspan wants bailout limits
Former chairman of Fed calls for new law to deal with troubled companies

July 12, 2008
• A bailout coming?
Stocks for nation's 2 mortgage giants drop

April 24, 2008
• Democrats push housing bill through; GOP calls it a bailout

March 15, 2008
• Bear Stearns' near-meltdown adds to worries in credit crisis

Multimedia

Unemployment by the Numbers: A look at the rising figures
» Unemployment by the Numbers: A look at the rising figures

center
» Financial Crises: How the recent meltdown came about

center
» Financial Crises: From the Depression to today

center
» Credit Contraction: How it became scarce and the plan to revive it

center
» The Other Financial Crisis:
No reprieve any time soon on falling home prices

center
» WALL STREET MELTDOWN: Reshaping the financial landscape

Wachovia Meltdown

November 25, 2008
Some shareholders upset about deal with Wachovia

Wachovia blow by blow review

November 20, 2008
• Wachovia pays millions in fees

November 16, 2008
• SOLD! Investors take chance on Wachovia Center

November 14, 2008
• Experts ponder how to keep Wells Fargo

• Wells Fargo, not Wachovia, seen in top slots

• 2 Wachovia officers to lead Morgan Stanley division

November 5, 2008
• CEO at Wells Fargo to stay despite age
Board wants him to guide Wachovia deal

November 1, 2008
• Bank boss could visit
Wells Fargo CEO possibly to be here 'in the near future'

October 26, 2008
• Wells Fargo veteran could help Wachovia

October 23, 2008
• Wachovia's dire state shown in $24B loss
Quarterly result is said to refute notion it could have survived

October 22, 2008
• Wachovia suit aims to bar deal
It says that sale of bank is unfair to shareholders

October 21, 2008
• Wachovia offers a recording on its third-quarter results

October 16, 2008
• Wells boss: Wachovia job picture is unsettled

October 15, 2008
• Wells Fargo sues to void Wachovia-Citigroup pact

October 13, 2008
• Fed gives nod to banks
Wells Fargo's offer to buy Wachovia also needs OK from Wachovia shareholders

October 11, 2008
• Wachovia shareholders eye future with caution
Analysts give deal high marks; FTC approval moves it forward

• Wachovia to pay $163 million in telemarketing settlement

October 10, 2008
• Citigroup is vowing to take it to court
Wells Fargo appears to be winner in Wachovia fight

October 9, 2008
• Wachovia, suitors extend cease-fire
'Grand solution' discussed, report says

October 8, 2008
• Federal Reserve, two banks mum on Wachovia talks

October 7, 2008
• Officials trying to carve up Wachovia
Wells Fargo, Citigroup pushed to split bank's assets, but deal unlikely to benefit shareholders

• Wachovia's decline affects city finances

October 6, 2008
• Wells Fargo gets upper hand in battle of Wachovia control
Court overturns Citigroup order

October 5, 2008
• Faithful Wachovia investors feel betrayed

October 4, 2008
• The fight for Wachovia
Citigroup warns of legal challenge, but analysts doubt it will be successful

• Wachovia employees, Charlotte worry
At stake are thousands of banking jobs that had helped Charlotte economy

October 3, 2008
• Shareholders weigh options at Wachovia
Opposing sale unlikely to help, analysts say

• 3 Wachovia officers may get big severance
CEO Steel, though, loses millions on stock

October 2, 2008
• Expectations low for Wachovia stock
It is difficult to estimate the bank's share price, analysts say, but about $2 sounds right

• Wachovia helps subsidiary by buying Lehman debt

October 1, 2008
• How did it come to this for Wachovia?
The writing, some say, was on the wall in early 2000 as the bank felt pressure to expand

• Citigroup: Wachovia acquisition will occur

September 30, 2008
• Wachovia dealt to Citigroup after 129 years as independent

September 29, 2008
• Fed, Treasury push for Wachovia sale without guarantees
Citigroup, Wells Fargo seen as main suitors; talks continue in NYC

September 27, 2008
• Wachovia struggling as BB&T makes gain

September 18, 2008
• Morgan Stanley, Wachovia in talks about combining

September 10, 2008
• Filing describes payments to Wachovia's new CFO

• Wachovia's CEO reveals more of his turnaround plan
Bob Steel tells conference about proposals to cut expenses, to increase liquidity

September 9, 2008
• Wachovia confirms Zwiener as chief financial officer

September 6, 2008
• Outside brokers are helping Wachovia on troubled loans

September 5, 2008
• Wachovia hires former Bear Stearns executive to lead fixed-income unit

 

ADVERTISEMENT

Advertisement