Mortgage Bust - News for the New Depression

Number of Americans filing for unemployment insurance rests at 479,000. NEW YORK (CNNMoney.com) -- The number of Americans filing new claims for unemployment insurance did not change from last week, remaining at an elevated level that indicates weakness in the nation's economy. The U.S. Department of Labor reported Thursday that initial ...

AJC The old adage was that government jobs didn’t pay well but at least they were safe, promised good benefits and provided sanctuary during a down economy. No more. Increasingly governments are being forced to balance budgets on the backs of their largest expense — employees. Governments are slashing pensions, holding ...

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) -- Home prices fell in August for the 25th consecutive month and prices in 10 major markets plunged a record ...

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 ...

CNBC Fidelity Investments said on Tuesday it was reviewing its costs and staffing following an industry report that said as many as 4,000 jobs, or about 9 percent of its workforce, could be cut. The world's biggest mutual fund company, which employs 44,500 people globally, has already reduced its workforce ...

WSJ More than 300 online-ad networks have cropped up over the past couple of years, making the business of brokering ads on the Web one of the most popular -- and crowded -- niches on the Internet. But with the nation's economic woes deepening, there are signs of ...

Source - Wall Street Journal Employers grappling with the financial crisis and a slowing economy are accelerating and broadening job cuts in multiple industries, potentially deepening the economic downturn. Xerox Corp., General Motors Corp. and bottler Coca-Cola Enterprises Inc. ...

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 up. The day laborer is saving for a one-way plane ticket home. "I lost hope about finding work," the ...

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 ...

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 ...