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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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March 3, 2009 10:53 AM ET
(Reuters) — Federal Reserve Chairman Ben Bernanke on Tuesday urged bold action to pull the economy out of a deepening slump, even if it means a surge in U.S. government debt. “We are better off moving aggressively today to solve our economic problems,” he told the Senate. “The alternative could be a prolonged episode of economic stagnation that would not only contribute to further deterioration in the fiscal situation, but would also imply lower output, employment and incomes for an extended period,” he said. President Barack Obama’s recent budget proposal projects an explosion of the budget deficit to $1.8 trillion, and a rise in the debt-to-GDP ratio to about 60% from 40%, the highest level since the early 1950s. “All else equal, this is a development that all of us would have preferred to avoid,” Bernanke said. Whether the government needs to increase the size of a $700 billion bank rescue package depends on government evaluations of lenders and the course of the economy, the Fed chairman said. Without a return to financial stability, the economy will not be able to recover, he said. “Although progress has been made on the financial front since last fall, more needs to be done,” he added.
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CRAIN'S BENEFITS OUTLOOK 2009
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