Obama: Reform Will Prevent Future Financial Crisis

President Obama says Tuesday that the financial regulatory reform law he signed will reign in the risky behavior that caused the financial crisis to happen.

Listen

TARP Tax Is 'Responsible And Prudent,' Says Treasury Secretary

During his testimony before the Senate Finance Committee, Treasury Secretary Tim Geithner cast levying a tax on large financial institutions as a "responsible and prudent" step in offsetting the costs incurred through the Troubled Assets Relief Program (TARP). (0:15)

Listen

TARP Tax A Way To 'Dig-Out' Of Financial Mess, Says Geithner

Treasury Secretary Tim Geithner cast levying a tax on large financial institutions as a significant step in offsetting the costs incurred through the Troubled Assets Relief Program (TARP).

“This was an expensive financial crisis. It caused a lot of damage to our long term fiscal position,” Geithner said Tuesday during his testimony before the Senate Finance Committee. (0:17)
Listen

Greenspan Remind Comission That Federal Reserve Board Is Not An Enforcement Agencey

Former Federal Reserve Chairman Alan Greenspan said Wednesday morning before a hearing with the Financial Crisis Inquiry Commission (FCIC) that the Federal Reserve Board did not play a significant hand in the subprime mortgage crisis.

“Remember that the Federal Reserve Board is a rule making [agency], it is not an enforcement agency,” said Greenspan, who served as chairman from 1987-2006. “We did not have the capacity to implement the types of enforcement that the FDIC, [Housing and Urban Development and the Department of Justice] has.” (0:24)
Listen

Greenspan: I Was Right 70 Percent Of The Time, Wrong 30 Percent Of The Time

Former Federal Reserve Chairman Alan Greenspan conceded Wednesday morning before a hearing with the Financial Crisis Inquiry Commission (FCIC) that he had made mistakes throughout his career.

Noted the 84 year old Greenspan, “I was right 70% of the time, but I was wrong 30% of the time. There are an awful lot of mistakes in 21 years.” (0:22)
Listen

Adequate Capital And Liquidity Critical To Financial Improvement, Says Greenspan

Former Federal Reserve Chairman Alan Greenspan said Wednesday that adequate caital and liquidity are critical facotrs for improving the economy. (0:19)

Listen

The Fed Has A Recession Exit Strategy, Says Bernanke

"The extraordinary policy measures we have taken in response to the financial crisis and the recession can be withdrawn in a smooth and timely manner as needed," Federal Reserve Board Chairman Ben Bernanke said to the House Committee on Financial Services Tuesday. (0:33)
Listen

Boehner On Stimulus: "Greatest Fabrication That I've Seen Since I've Been In Congress"

House Minority Leader John Boehner (R-Ohio) accuses Vice President Joe Biden and President Barack Obama of lying to Americans about why the stimulus package hasn’t reversed the nation’s spiraling unemployment rate. Boehner says that we should focus on tax relief to help families and small businesses to keep what they earned in order to reduce the impact of the financial crisis. (1:07)
Listen

Greenspan: Why Not Forming New Banks?

By Michael Combier-Talk Radio News Service

Former Federal Reserve Chairman Alan Greenspan discussed the possibility of creating new banks, free of any toxic assets. These new institutions would provide less risks than the institutions which have sought federal loans and that still remain a threat to the U.S. economy. (1:22)
Listen

Cheney VS GM Bankruptcy Protection

Former Vice President Dick Cheney explains why he does not perceive the help GM will receive as the best solution to overcome and recover from the financial crisis. Amongst other reasons, Cheney says that going through the chapter 11 process which allows for the reorganization of a firm might be a good way to start over. (1:02)
Listen

Frank calls for more regulation in financial markets

By Michael Ruhl, University of New Mexico - Talk Radio News Service

Today in a hearing House Financial Services Committee Chairman Barney Frank (D-Mass.) said that the federal government must help to bring about regulations in financial institutions which presently are operating unrestrained in the free market. Frank emphasized that these moves are not about "diminishing the role of the private sector as a wealth creator," but is about placing safeguards on newly developed market entities. (01:44)
Listen

Ann Coulter: President Obama is "a real Democrat when it comes to socialism"

Talk Radio News Service, Victoria Jones, interviews Ann Coulter at the 2009 Conservative Political Action Conference in Washington, D.C. Coulter talks about President Obama's new Iraq war strategy saying that President Obama "seems to be following Bush policy on terrorism." Coulter also talks about how the government has to do something with the banks and that forcing banks to give loans not based on normal business practices is what's putting the economy in a financial crisis. (04:45)
Listen

Deregulation not the cause of crisis

Editor of the Real Clear Markets website John Tamny said that deregulation was no the cause of the crisis, as some democratic leaders are suggesting. (0:32)
Listen

Fannie and Freddie were worst of both worlds

John Berlau, Director of the Center for Entrepreneurship, said that Fannie Mae and Freddie Mac were essentially hybrids of government and private industry which had the dangerous consequence of making investors believe that their investments were risk free (0:32)

Listen

College tuition has increased 60% since 2000

The rising cost of tuition exacerbates the financial burden facing college bound students. According to Bob Brandon of the Campaign for College Affordability tuition in public institution have gone up 60 percent in the past eight years (0:30)
Listen

Bernanke declines to answer if U.S. is in a recession

Representative Rosa L. DeLauro (D-Conn.) asked Federal Reserve Chairman Ben Bernanke if the U.S. is in a recession. Bernanke was reluctant to answer, but said the economy is in a serious slowdown regardless of what it is called (0:30)
Listen

The financial crisis cannot be used as an excuse

UN World Food Programme Executive Director Josette Sheeran speaks about the importance of the world hunger crisis, especially during this time of financial crisis. (1:00)
Listen