Another debt ceiling debacle could sink the economy
Last year's Congressional debt standoff hurt consumer confidence more than the collapse of Lehman Brothers, Betsey Johnson and Justin Wolfers write. This time could be worse. Read more at Counterparties
GM CEO Wagoner to step down: W.House official
WASHINGTON |
WASHINGTON (Reuters) - General Motors Chief Executive Rick Wagoner has agreed to step down at the request of the Obama administration, a White House official said on Sunday.
The move comes a day before President Barack Obama is expected to outline new steps to help GM and Chrysler as part of an ongoing federal bailout of the companies.
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