As the debate over the proposed $700 billion bailout of Wall Street continues to rage in Washington, the government took over lending giant Washington Mutual Thursday night in what is by far the largest bank failure in American history.
By PBS NewsHour
Stock indexes rose in early Monday trading after banking giant JP Morgan Chase & Co. confirmed reports that it had quadrupled its offer for troubled investment bank Bear Stearns Co.
By PBS NewsHour
This week on the campaign trail, Sens. Hillary Clinton and Barack Obama headed out again for another battle for Democratic votes, while GOP Sen. John McCain set out to shore up his support among his own party's base.
President Bush played down the possibility of recession Thursday, while Fed Chairman Ben Bernanke explained to Congress the difficulties of balancing rising inflation with a slowing economy. Two senators debate proposals to aid the economy, including a supplemental stimulus package…
As home foreclosures reached a record high Thursday, President Bush announced a deal with mortgage lenders to freeze interest rates on some subprime mortgages due to move sharply higher soon. Treasury Secretary Henry Paulson discusses the details of the proposal.
President Bush tried to quell concerns over the recent housing slump and credit crunch Tuesday, saying "The basics in the economy are good." Two former treasury secretaries examine the state of the economy and whether the U.S. is facing a…
The Friday after Thanksgiving kicked off what most consider to be the beginning of the holiday shopping season, with retailers hoping for a robust consumer turnout. Financial analysts discuss how consumers' concerns over the housing slump and falling dollar may…
Federal Reserve Chairman Ben Bernanke on Thursday predicted "sluggish" U.S. economic growth after the dollar reached an all-time low against the euro and jittery investors kept close watch on surging oil prices. A business journalist and an economist offer analysis…
Citigroup, the nation's largest bank, faces both a downgraded credit rating and the resignation of CEO Charles Prince. A business journalist describes the company's struggles.
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