Mortgage Bust - News for the New Depression

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 ...

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 save 2.5 million jobs over two years. His reluctance may be with good reason: Obama is six weeks from taking office, ...

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 of dollars in losses at the struggling bank. President Bush said on Monday that more such rescues could be arranged ...

Last Trade:2.79

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 power, according to a frighteningly bleak assessment by the US intelligence community. “The world of the near future will be subject ...

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 can't tell you how the financial crisis will be solved, when the Dow will return to 13,000 or if home ...

The troubled insurance giant American International Group already has consumed three-quarters of a federal $123 billion rescue loan, a little more than a month after the government stepped in to save the company from bankruptcy. AIG has borrowed $90.3 billion from the Federal Reserve's credit line as of yesterday, the ...

Nick Leeson urges banks adopt IT risk management Nick Leeson caused the collapse of Barings bank in 1995. Speaking today at the Burton Group Catalyst conference in Prague, he said: "I was losing £20m for every point the Nikkei lost, resulting in £11m per day for the first 58 days ...

WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is "shocked" at the breakdown in U.S. credit markets and said he was "partially" wrong to resist regulation of some securities. Despite concerns he had in 2005 that risks were being underestimated by investors, "this crisis, however, ...

WASHINGTON – Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday. The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases ...