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 ...

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 pending merger with Merrill Lynch & Co., Inc. (NYSE: MER) and the weak economic environment, which is affecting 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 Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties has $13 billion ...

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 get severance and vacation pay. About 250 union workers occupied the Republic Windows and Doors plant in shifts Saturday while union ...

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, ...

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) -- The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job losses ...