By Rand Paul
Obama acts as though we no longer have a Constitution
Tim Geithner is jumping from U.S. Treasury Secretary to the Council on Foreign Relations, as distinguished fellow based in New York, starting later this month.
Jack Lew, President Obama's presumed choice to lead the Treasury Department, has close ties to Wall Street, receiving more than $900,000 in bonus cash from a division of Citigroup Inc. just as the company was getting bailed out by U.S. taxpayers.
The U.S. banking industry suffered two big hits Monday stemming from the collapse of the housing bubble, with 10 banks and mortgage lenders agreeing to pay $8.5 billion in a settlement with federal regulators, while Charlotte, N.C.-based Bank of America agreed to a separate settlement with Fannie Mae over bad housing loans that its controversial lending subsidiary sold to the federal housing finance giant.
Wal-Mart Stores Inc. said Friday that it expects to hire more than 50,000 people this holiday season and will be offering more hours to its existing employees.
Citigroup Inc. will try something new to keep struggling homeowners out of foreclosure: turn them into renters.
On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won't reflect its true profit, because the company hides some of it with an unusual tax maneuver.
Moody's Investors Service has lowered the credit ratings on some of the world's biggest banks, including Bank of America, JPMorgan Chase and Goldman Sachs, reflecting concern over their exposure to the violent swings in global financial markets.
JPMorgan Chase, the largest bank in the United States, startled markets late Thursday when it revealed it had lost $2 billion in a trading portfolio designed to hedge against risks the company takes with its own money.
Picture it: Save for a few disposable point-and-shoots, Kodak is exiting the camera business.
Eastman Kodak Co. has a little over a year to reshape its money-losing businesses and deliver a get-out-of-bankruptcy plan.
Slight improvements in Europe's troubled debt markets and China's economy were enough to send stocks sharply higher Tuesday.
White House Chief of Staff Bill Daley will step down from his position at the end of this month, with Jack Lew, director of the Office of Management and Budget, taking his place to lead the president's team heading into a difficult re-election year.
Saudi billionaire Prince Alwaleed bin Talal and his investment company said Monday they are investing a combined $300 million into Twitter, increasing the microblogging site's cash cushion as its user base expands.
A deal to forge stronger ties between most of Europe's economies sent stocks sharply higher Friday afternoon as hopes grew that the region is close to resolving its debt crisis. The Dow Jones industrial average rose 215 points.
Reports that all countries using the euro could get their credit ratings downgraded deflated a morning rally in the stock market Monday. The Dow Jones industrial average closed up 78 points, giving back much of a 167-point gain from earlier.
