Like that will help them fool everyone. Reuters News NEW YORK, March 22 (Reuters) - Workmen rolled up their sleeves at American International Group Inc (AIG.N) this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has become the scorn of America. A spokesman said the company had decided to replace the large ...
Bloomberg Dec. 17 (Bloomberg) -- The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated. The U.S. currency slid to a 13-year low against the yen today and had its biggest one-day decline versus the euro after the Federal Reserve reduced its target interest rate yesterday to a range of zero to 0.25 percent, the lowest among the world’s ...
This is getting to the point where it is not even news anymore than a near daily occurrence. Investors abandoning stocks as punishing recession appears at hand NEW YORK - Wall Street capped another difficult week with steep losses Friday, sending the major indexes to their lowest levels in more than five years as markets around the world skidded lower on the belief that a punishing economic recession is at hand. It was a dramatic, fractious day ...
A slew of American heavyweight companies, including Caterpillar, Pfizer, Sprint Nextel, Home Depot and General Motors, announced cuts Monday adding up to 45,000 jobs lost. What's more, a group of business economists predicted many more job losses in the year ahead. Caterpillar had by far the worst news of the group. The world's largest heavy equipment maker announced Monday it was slashing up to 5,000 ...
WASHINGTON - A financial industry official says the Bush administration has decided to greatly expand protections for the U.S. banking system out of concern for the faltering economy. The official said the administration will use perhaps as much as $250 billion of the $700 billion rescue program recently passed by Congress to purchase stock in U.S. banks, providing the banks with badly needed money. The official, who spoke with knowledge of a Treasury Department meeting ...
By Robert MacMillan NEW YORK (Reuters) - There's something about hundreds of billions of dollars vanishing overnight that begs a comparison to the 1929 market crash and the Great Depression. Almost -- but not yet. The United States has seen the destruction of some of its biggest names in finance, thousands of lost jobs and threats to the stability of the world banking system. All in one week. The ...
NEW YORK – Wachovia Corp. on Wednesday reported a staggering $24 billion loss as it took a goodwill impairment charge of nearly $19 billion ahead of its acquisition by Wells Fargo & Co. The Charlotte, N.C.-based bank reported a loss after paying preferred dividends of $23.89 billion, or $11.18 per share, in the period ended Sept. 30, ...
A slew of American heavyweight companies, including Caterpillar, Pfizer, Sprint Nextel, Home Depot and General Motors, announced cuts Monday adding up to 45,000 jobs lost. What's more, a group of ...
Full Story Bank of America (NYSE: BAC) said it is working on a plan to eliminate a significant number of positions over the next three years reflecting the ...
AP Owner of Chicago Tribune, L.A. Times, Chicago Cubs has $13 billion in debt NEW YORK - Media conglomerate Tribune Co. has filed for bankruptcy protection. The owner of the ...
MSNBC CHICAGO - Workers who got three days' notice that their factory was shutting its doors have occupied the building and say they won't go home without assurances they'll ...
CNN The 2008 tally soars after payrolls shrink by 533,000 in November, the biggest one-month decline in nearly 34 years. Unemployment soars to 6.7%. NEW YORK (CNNMoney.com) -- ...
From Silicon Alley Insider Google has about 10,000 contractors and it wants to reduce that number, PR rep Jane Penner told CNET. "We have 10,000, and we have had ...
Like that will help them fool everyone. Reuters News NEW YORK, March 22 (Reuters) - Workmen rolled up their sleeves at American International Group Inc (AIG.N) ...
MSNBC WASHINGTON - Struggling to contain the worst financial crisis in seven decades, the Obama administration wants to buy billions of dollars of toxic assets from banks to ease ...
Full Story Here The company has agreed to implement a financial restructuring that will reduce its debt by about $8 ...
Home prices see another record plunge 10 major markets have seen home values fall 17.7% over the past 12 months, and experts expect the declines to continue. NEW YORK (CNNMoney.com) ...
AP SAN DIEGO – After struggling just to pay his $300 monthly rent and send money to his wife and two children back in Honduras, Dionisio Urbina has given ...
WASHINGTON - The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in ...
By Robert MacMillan NEW YORK (Reuters) - There's something about hundreds of billions of dollars vanishing overnight that begs a comparison to the 1929 market crash and the Great Depression. Almost -- ...
Why This Recession Will Be A Doozy Henry Blodget | ...
Source - www.clusterstock.com - So why isn't the bailout working? They say generals are always fighting the last war. Now Ben Bernanke, who was a financial historian before ...
Main Causes of the Great Depression by Paul Alexander Gusmorino III May 13, 1996 The Great Depression was the worst economic slump ever in U.S. history, and ...
In October 1929 shares on Wall Street fell sharply following a speculative boom during the "Roaring Twenties". In two days the Dow Jones industrial average fell by 25% (ending on ...
WASHINGTON - A financial industry official says the Bush administration has decided to greatly expand protections for the U.S. banking system out of concern for the faltering economy. The official ...
Last time similar program was used was during the Great Depression WASHINGTON - Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to ...
Apparently one giant executive retreat in a week or so is not enough, AIG needed to have yet another expensive as fuck retreat, because ..uh you know, being bankrupt is ...
Treasury Considers Taking Stake in Banks By DEBORAH SOLOMON WASHINGTON -- The Treasury Department is considering ways to inject ...
AIG hits up Fed for more money Three weeks after an $85 billion bailout, AIG is turning to the New York Fed for additional funding....
Bloomberg Dec. 17 (Bloomberg) -- The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated. The U.S. currency slid to a ...
CNN NEW YORK (CNNMoney.com) -- President-elect Barack Obama hasn't put a dollar figure yet on his promise to create an economic recovery package that he says will generate or ...
NYT Federal regulators announced late Sunday night that the government had approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions ...
Full report The next two decades will see a world living with the daily threat of nuclear war, environmental catastrophe and the decline of America as the dominant global ...
Net Gains: Guaranteed Retirement Accounts Are Getting Attention in Washington When it comes to how we spend and save, borrow and lend, nothing in this nation will ever be the same. I ...
This is getting to the point where it is not even news anymore than a near daily occurrence. Investors abandoning stocks as punishing recession appears at hand NEW YORK - Wall Street ...
NEW YORK – Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show ...
WHAT THE FUCK! AIG needs even more money. Bloomberg is reporting that the company that once was the largest insurer in the world plans to use the new commercial paper ...
Why aren't the big fish on the hook for the financial crash? THE WORLD FROM WASHINGTON- ...
The financial events of recent weeks have filled many of us with shock and panic. Surely no one could have predicted that we would be in this mess? Well, actually, ...
Japan's Nikkei plummets 10 percent after Dow tumbles on recession fears HONG KONG - Asian stocks plummeted Thursday, with Tokyo's market plunging more than 10 percent, after another dive on ...
NEW YORK – Wachovia Corp. on Wednesday reported a staggering $24 billion loss as it took a goodwill impairment charge of nearly ...
Funds spent over three years to total 20 percent of the national debt WASHINGTON - The government may guarantee nearly $2 trillion in U.S. banks' debt and ...
Upper East Sliders Where cutting back means ditching the private jet. How the superrich are surviving tough times. By Holly Peterson | NEWSWEEK Published Oct 11, ...
NEW YORK - Citigroup says it has ended negotiations with Wells Fargo in their fight to acquire Wachovia. Citigroup says it believes it has strong legal claims against Wachovia ...
BofA agrees to auction-rate buyback Bank of America settles with SEC and says it will repurchase $4.7 billion in auction-rate securities to allay fraud charges....
By Sue Chang Last update: 12:45 p.m. EDT Oct. 8, 2008 Comments: 17 SAN ...
A rising tide of ‘underwater’ homeowners 1 in 6 now owe more on their mortgage then their property is worth...
BofA agrees to auction-rate buyback Bank of America settles with SEC and says it will repurchase $4.7 billion in auction-rate securities to allay fraud charges....
By JIM KUHNHENN – 54 minutes ago WASHINGTON (AP) — John McCain's proposal to buy up bad home mortgages would use nearly half the $700 billion ...
The Real Great Depression The depression of 1929 is the wrong model for the current economic crisis By SCOTT REYNOLDS NELSON...
