Real Clear Markets Video

MSNBC Archives

Bank of America Pays $33 Million Fine to SEC

Bank of America has agreed to pay a $33 million fine to the Securities and Exchange Commission to settle charges it misled investors about the bonuses being paid to Merrill Lynch employees.  The bank also laid out a succession plan to replace CEO Ken Lewis when he stops down.  As of now, Lewis has no plans to step down from his post and would like to stay on until Bank of America repays all TARP funds to the federal government.

Posted by RCM Staff | Send to a Friend | Email Author | Permalink

Larry Summers on the Obama Stimulus

Lawrence Summers, appearing on NBC's Meet the Press, discusses the so-called impact of President Obama's stimulus package.  Summers defends the slow-motion use of stimulus funds and explains how unprecendented the problems he and others in the Obama administration faced upon entering the White House.

Posted by RCM Staff | Send to a Friend | Email Author | Permalink

The Slow-Moving Stimulus Package

Only 6% of the stimulus package has been paid out in the last three months, according to many experts.  Jared Bernstein, chief economist for Vice-President Joe Biden, counters this by saying the administration has obligated $88 billion, or over 10%, to new projects, such as construction and fiscal relief, and explains how the need for speedy assistance is tempered by the need for accountability.

Posted by RCM Staff | Send to a Friend | Email Author | Permalink