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No bailout is a risk too big to take, U. of I. economist says
CHAMPAIGN, Ill. – The troubled U.S. economy is bound for dangerous, uncharted territory unless Congress acts swiftly to resurrect a bailout plan to prop up crippled credit markets, a University of Illinois economist says. J. Fred Giertz, the interim head of the university’s economics department, says no one knows exactly how badly the economy could […]
Government should lift shroud over bailout plan, expert says
CHAMPAIGN, Ill. – Americans deserve more than just vague warnings of economic doom before their tax dollars are poured into a massive $700 billion rescue of Wall Street, a University of Illinois legal expert says. Law professor Robert Lawless says taxpayers are still largely in the dark about exactly why the unprecedented bailout is needed […]
Ban on betting would boost ailing economy, gambling critic says
CHAMPAIGN, Ill. – Congress should resurrect the nationwide gambling ban that existed through most of the 20th century to help soothe a fragile U.S. economy shaken by the worst credit and financial crisis in decades, a University of Illinois professor and national gambling critic says. John W. Kindt argues that gambling is a multi-billion dollar […]
Only time will tell whether bailout plan can succeed, U. of I. expert says
CHAMPAIGN, Ill. – A historic government bailout proposal has slowed the bleeding on Wall Street, but the jury is still out on whether it can cure the nation’s troubled financial system, a University of Illinois economist says. J. Fred Giertz says the government is banking that the proposed bailout will prop up sputtering financial markets, […]
Depression-era failings behind recent Wall Street bailouts, expert says
CHAMPAIGN, Ill. – Lessons from the Great Depression are likely guiding an unprecedented wave of government bailouts now propping up American International Group Inc. and other cash-strapped financial firms, a University of Illinois economist says. J. Fred Giertz says officials hope intervention by the Federal Reserve that also rescued lending giants Fannie Mae and Freddie […]
Expert says gas prices should level off after refineries survived Ike
CHAMPAIGN, Ill. – Hurricane Ike threatened to send already steep gasoline prices soaring, despite a steady decline in crude oil prices that reached a seven-month low this week, a University of Illinois economic expert says. But finance professor Don Fullerton says pump prices will likely stabilize again now that U.S. refineries apparently ducked a production-crippling […]
New study says high grain prices are likely here to stay
CHAMPAIGN, Ill. – An ethanol-fueled spike in grain prices will likely hold, yielding the first sustained increase for corn, wheat and soybean prices in more than three decades, according to new research by two University of Illinois farm economists. Corn, an ethanol ingredient that has driven the recent price surge, could average $4.60 a bushel […]
Freddie Mac, Fannie Mae bailout only a stopgap, U. of I. expert says
CHAMPAIGN, Ill. – A government bailout of mortgage giants Freddie Mac and Fannie Mae is only a bandage for the nation’s troubled financial and housing sectors, a University of Illinois economist says. Financial markets and the U.S. dollar rallied Monday after the weekend announcement that the Treasury Department was seizing control of the cash-strapped companies, […]
New guide explores making the most of Social Security
CHAMPAIGN, Ill. – Many older Americans may be shortchanging their golden years by tapping into Social Security too soon, according to a University of Illinois expert who has studied the federal retirement program for nearly two decades. More than three of every four Americans trim their monthly Social Security checks for life by claiming benefits […]
New business facility at Illinois blends instruction, sustainability
CHAMPAIGN, Ill. – University of Illinois business students will study this fall in a new, $60 million-plus building filled with high-tech classrooms, counseling and career services, and a state-of-the-art laboratory that simulates real-time market trading. But officials say there’s also a lesson built into the earth-friendly design of the newly finished Business Instructional Facility, the […]
Study: Starting kindergarten later gives students only a fleeting edge
CHAMPAIGN, Ill. – New research challenges a growing trend toward holding kids out of kindergarten until they’re older, arguing that academic advantages are short-lived and come at the expense of delaying entry into the workforce and other costs. The findings show older kindergartners fare better academically largely because they learn more before starting school, not […]
Flash Index slips to four-year low
The UI Flash Index slipped to a four-year low in July, falling to 102.1 from its 102.3 level in June. The slippage from the level it had held for two consecutive months dropped the index to its lowest reading since August 2004. Despite the drop, the overall implications of the index remain the same: a […]