The number of U.S. homes worth less than the mortgages owed on them reached 10.7 million, or 23 percent of all mortgaged homes, in the third quarter, according to a new report.
By Online DA
President Obama issued an executive order Tuesday establishing a multi-agency task force to crack down on financial fraud.
By Carolyn O'Hara
Tonight on the NewsHour, FDIC Director Sheila Bair weighs in on the state of the U.S. banking system. In a Web-exclusive excerpt, Bair speaks bluntly about the need to break up banks that are deemed "too big to fail."…
U.S. unemployment rose more than expected to a 26-year high of 10.2 percent, shedding 190,000 jobs in October, according to figures released by the Department of Labor Friday.
CIT, a major lender to small U.S. businesses, filed on Sunday for one of the largest Chapter 11 bankruptcy protections in history.
The U.S. economy expanded at a 3.5 percent annual pace from July to September, according to Commerce Department figures released Thursday, in a signal that the worst recession since the 1930s may be easing.
By Dave Gustafson
The U.S. government would be given broad new powers to shrink financial firms deemed "too big to fail" and shift the cost of rescuing troubled companies from taxpayers to other large firms, according to draft legislation released Tuesday.
By PBS NewsHour
Economics correspondent Paul Solman takes his Business Desk blog inside classrooms across the United States to respond to high school students' most pressing questions about Wall Street, the recession and unemployment.
Question: What needs to happen so that we will have no companies “too big to fail”? Paul Solman: Come up with incentives that induce big companies to slim down, or disincentives that punish them if they don’t. What’s startling…
The government has ordered seven firms that received billions in bailout money to dramatically cut compensation to their highest-paid employees.
Support Provided By: Learn more