Americans paid off $21.6 billion in credit card debt and other consumer loans in July. Louise Story, a finance reporter for the New York Times, says the economy will fundamentally change if Americans take on a new attitude about using credit.
All week we are reviewing the year that was: the year that marked the beginning of the recession that we continue to live through. Today we are focusing on the $600 billion collapse of Lehman Brothers ? the largest bankruptcy filing in U.S. history.
Unemployment numbers last week showed the U.S. jobless rate at 9.7 percent: the highest since 1983. This number may be misleadingly low, however. Louise Story is a reporter for our partners The New York Times -- she joins us to tell us more.
The National Association of Realtors is scheduled to release numbers on pending home sales; those numbers are predicted to be up for the sixth consecutive month. The New York Times reporter Louise Story joins The Takeaway to explain the report.
Eight of the biggest bailed-out banks have fully repaid their debts to the U.S. government. The Takeaway talks to New York Times reporter Louise Story about the significance of these quick paybacks and their impact on the economy.
Though the recession may be easing, both schools and parents are still feeling the financial squeeze. With The Takeaway to talk about the retail market is The New York Times' Louise Story and Salon.com's Mary Elizabeth Williams.
Louise Story, finance reporter for the New York Times, joins The Takeaway to help parse the latest economic data. The minimal change in inflation is a good sign, which will allow the Fed to keep on its current monetary strategy.
General Motors is now letting consumers buy new cars on the auction site eBay. The Takeaway is joined by Louise Story, financial writer for The New York Times, and John McEleney, chairman of the National Association of Automobile Dealers.
Two strange bedfellows will face a judge in federal court today: Bank of America and the Securities and Exchange Commission. The Takeaway talks to Louise Story, finance reporter for The New York Times.
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