Bank of America Corp. said Friday that it has agreed to pay $4 billion in stock for Countrywide Financial -- rescuing the battered lender that has come to represent the excesses of the subprime mortgage market.
President Bush announced a deal with mortgage lenders to freeze interest rates on some subprime mortgages due to move sharply higher soon that he hopes would slow the rate of home foreclosures. Economic analysts assess the value of the proposal…
Chicago's ShoreBank has implemented a "rescue loan program" to help customers refinance home mortgages that may be in danger of default. A consumer advocate and a mortgage industry representative weigh in on how to best respond to the country's subprime…
The credit card industry and its practices, including interest rates and other fees, came under scrutiny at Senate hearings Wednesday. A Washington Post reporter details the hearings.
By PBS NewsHour
Former Enron CEO Jeffrey Skilling was sentenced Monday to 24 years and three months in prison for his part in crimes that led to the one-time energy giant's collapse.
Music chain Tower Records filed for bankruptcy for the second time on Sunday. An expert discusses how digital downloads and large-scale music distributors are changing the music industry.
By PBS NewsHour
Delta and Northwest filed for bankruptcy Wednesday, illustrating the problem airliners are having with soaring oil prices and competition from smaller carriers.
Enron Corp. on Friday filed a reorganization plan that would allow the company to emerge from bankruptcy, but pay the majority of creditors only a small fraction of what they're owed.
US Airways, hit hard by high operating costs and the Sept. 11 terrorist attacks, filed for Chapter 11 protection Sunday, becoming the first major airline to declare bankruptcy since last fall.
One day after Enron files for the largest corporate bankruptcy in U.S. history, two major banks provide short-term rescue package for the collapsed energy giant and former Wall Street favorite.
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