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Greenspan Calls Crisis A "Credit Tsunami" (VIDEO)

AP, C-SPAN | Posted 05.25.2011 | Business

Greenspan told the House Oversight Committee on Thursday that his belief that banks would be more prudent in their lending practices because of the ne...

AIG May Need More Money, Says Chief

DealBook | Posted 05.25.2011 | Business

American International Group may need even more money than the $122.8 billion that the federal government is loaning the company to avoid collapse, ac...

Credit Suisse makes $1.1 billion loss in 3Q

AP | ONNA CORAY | Posted 05.25.2011 | Business

ZURICH, Switzerland — Credit Suisse Group reported a 1.26 billion Swiss franc ($1.08 billion) loss during the third quarter Thursday, blaming ba...

McDonald's 3Q profit jumps 11 percent

AP | LAUREN SHEPHERD | Posted 05.25.2011 | Business

NEW YORK — A jump in global sales boosted McDonald's Corp.'s third-quarter profit by 11 percent, the company said Wednesday, a bright spot among...

Stocks tumble on worries about earnings forecasts

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit mark...

My Conversation with Henry Paulson

Charlie Rose | Posted 05.25.2011 | Business
Charlie Rose

2008-10-22-rosepaulson.jpgI spoke with Paulson about whether the rescue plan was necessary to build confidence in the economic system.

Dow sinks 514 on louder warnings of a recession

AP | ELLEN SIMON | Posted 05.25.2011 | Business

NEW YORK — Now what? After three days of relative calm, turbulence returned to Wall Street on Wednesday. Louder warnings of a deep recession and...

Halliburton Disappointed, Concerned About Falling Gas Prices

Footnoted | Michelle Leder | Posted 05.25.2011 | Business

Anyone who drives a car regularly has noticed that gas prices have fallen pretty sharply over the past month -- something that fellow Brandeis grad Th...

Wachovia 3Q loss paves way for Wells deal

AP | SARA LEPRO | Posted 05.25.2011 | Business

NEW YORK — How could a $24 billion loss possibly be good news? When it comes from Wachovia as an effort to primp itself for its acquisition by W...

Fed To Provide Up To $540 Billion To Aid Money Funds

Bloomberg | Craig Torres and Christopher Condon | Posted 05.25.2011 | Business

Oct. 21 (Bloomberg) -- The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money-market mutual funds beset by re...

Brazilian Stock Market Halts Trading As Bovespa Index Plummets (PHOTOS)

AFP | Posted 05.25.2011 | Business

SAO PAULO (AFP) - Trading on Brazil's stockmarket, the biggest in Latin America, was automatically suspended Wednesday when the main Bovespa index plu...

Banks Use "Farming Kit" Lists To Pitch To Troubled Borrowers

New York Times | Brad Stone | Posted 05.25.2011 | Business

"It's like I've got some big tag: target this person so you can get them back into debt," said Ms. Jerez, of Jersey City, who still gets offers, even ...

GM Stock: ALL YOU NEED TO KNOW

Reuters | Posted 05.25.2011 | Business

DETROIT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) shares fell as much as 21.6 percent to their lowest level since 1...

Merrill Lynch Executive To Get $10 Million Buyout

Reuters | Posted 05.25.2011 | Business

A top executive at Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research, Stock Buzz), which last month accepted a takeover offer from Bank of Ameri...

Fed announces new plan to help money market funds

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — First, it was the banks. Now the Federal Reserve has come to the aid of money market funds as the government seeks to break the cre...

World stocks lower on recession fears

AP | PAN PYLAS | Posted 05.25.2011 | Business

LONDON — World stock markets were mostly lower Tuesday on renewed fears about the U.S. economy after a number of high-profile U.S. companies war...

Natalie Portman's Financial Crisis Solution (VIDEO)

Posted 05.25.2011 | Business

At first, it seemed that nobody understood the economic crisis. People were running around blaming each other, unable to offer alternatives or solutio...

AP source: Credit trouble slowing GM-Chrysler deal

AP | TOM KRISHER and JOE BEL BRUNO | Posted 05.25.2011 | Business

DETROIT — A potential deal for General Motors Corp. to acquire Chrysler LLC is slowly moving forward, but the transaction is being hampered by a...

World markets surge on credit easing

AP | PAN PYLAS | Posted 05.25.2011 | Business

LONDON — World stocks surged Monday as lower interbank lending rates fueled hopes that credit markets are returning to normal and Federal Reserv...

What If The Downturn Is Long And Shallow?

Economix | David Leonhardt | Posted 05.25.2011 | Business

Today is a good day to consider the possibility that the economic downturn will not end up being nearly as deep as feared -- but will end up lasting f...

The International Fight Over The Future Of Capitalism

Wall Street Journal | John D. McKinnon | Posted 05.25.2011 | Business

WASHINGTON -- A planned international summit on the financial crisis is turning into a debate over the future shape of capitalism, with European leade...

Did The Recession Just Have A Birthday?

New York Times | Floyd Norris | Posted 05.25.2011 | Business

The Federal Reserve chairman, Ben S. Bernanke, declined today to say whether we are in a recession. The only reason to avoid doing so is that it would...

Wall Street Eyes Earnings, Looking For Bottom

AP | JOE BEL BRUNO | Posted 05.25.2011 | Business

NEW YORK — With little question the U.S. is in the grips of a recession, investors this week will lean on a stream of earnings and economic repo...

Financial Times: US Faces Worst Recession In 26 Years

Financial Times | Krishna Guha | Posted 05.25.2011 | Business

The US economy appears to be plunging into what many experts believe will be its worst recession since 1982. Senior officials at the Treasury and Fed...

IMF Chief Embroiled In Sex Scandal

AP | JOAN LOWY | Posted 05.25.2011 | Business

WASHINGTON — The International Monetary Fund, a key institution in the global financial crisis, has hired a law firm to investigate whether its ...