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Great Recession

Honda Lifts Profits With Speedy Earthquake Recovery

Posted 10.01.2011 | Business

(Chang-Ran Kim) - Honda Motor Co reported an unexpected quarterly profit and raised its annual outlook by more than a third, as Japan's No.3 automaker...

U.S. Unemployment Rate Probably Unchanged In July

Bloomberg | Posted 09.30.2011 | Business

The U.S. probably failed to create enough jobs in July to reduce unemployment, showing anxiety over government debt deliberations and a slowdown in co...

Mistaken Auditor Likely To Face Little Punishment In Lehman Case

New York Times | FLOYD NORRIS | Posted 09.28.2011 | Business

The company misled investors and its officers and directors may be held liable. But the company’s auditor seems likely to escape any responsibility ...

Return Of America's Middle-Class Underclass

BBC News | Paul Mason | Posted 09.28.2011 | Business

In The Grapes of Wrath, John Steinbeck describes the harrowing journey of the Joad family - migrant workers forced to leave their home during the Grea...

Moody's Puts Spain On Review For Possible Credit Downgrade

Posted 09.28.2011 | Business

MADRID (Sonya Dowsett and Elisabeth O'Leary) - Rating agency Moody's put Spain on review for a possible downgrade on Friday, adding to concerns that a...

Widespread Latino Suffering as a Result of the Great Recession

Daniel Costa | Posted 09.27.2011 | Politics
Daniel Costa

The Pew Research Center just released a report showing that Latinos have been hit particularly hard by the Great Recession. A number of key economic indicators demonstrate just how devastating the recession has been for Latino families.

White/Minority Wealth Disparities: The Rest of the Story

Rakim Brooks | Posted 09.27.2011 | Politics
Rakim Brooks

We need to reflect not only on how much wealth was lost following the Great Recession and the inequality that created, but also on what those losses tell us about the ability of minorities to build wealth in America.

Why The Debt Crisis Is More Severe Than Everyone Thinks

Business Week | Peter Coy | Posted 09.27.2011 | Business

There is a comforting story about the debt ceiling that goes like this: Back in the 1990s, the U.S. was shrinking its national debt at a rapid pace. S...

Unemployment Claims Fall Below 400K For First Time In Over Three Months

Posted 09.27.2011 | Business

NEW YORK (Lucia Mutikani) - New claims for unemployment benefits fell more than expected last week, dropping below the key 400,000 level for the first...

14 Alternative Titles For The Great Recession

The Huffington Post | James Sunshine | Posted 09.26.2011 | Business

Before the current economic downturn ever officially ended, it had already become commonly known as the Great Recession. But two years after its offic...

UBS Sued For Allegedly Misleading Fannie Mae, Freddie Mac

Posted 09.26.2011 | Business

NEW YORK (Jonathan Stempel) - UBS AG (UBSN.VX) was sued by the conservator for Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), which accused the Swiss...

How A Ratings Downgrade Would Affect American Life

The New York Times | Tara Siegel Bernard | Posted 09.26.2011 | Business

This is not yet one of those stuff-your-money-in-a-mattress moments. Still, the talk in Washington of a federal budget crisis and possible default ...

Americans Don't Spend Enough Time On Actual Economic Problems

New York Times | DAVID LEONHARDT | Posted 09.26.2011 | Business

When I began covering the American economy 11 years ago, it was the envy of the world. The last 11 years have not been kind to it. First came the d...

Economists Say U.S. Credit Rating Will Be Downgraded: Poll

Posted 09.25.2011 | Business

(Pedro da Costa and Andy Bruce) - The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Re...

Recession Wiped Out Two-Thirds Of Household Wealth For Hispanics: Study

The Huffington Post | Alexander Eichler | Posted 09.25.2011 | Business

Wealth disparities between white households and black and Hispanic households are greater than they’ve been in the past 25 years, a new study from t...

Arthur Delaney

Recovery Bummer: New Jobs Pay Less Than Jobs Lost In Recession | Arthur Delaney | Posted 09.25.2011 | Business

WASHINGTON -- The Great Recession destroyed all kinds of jobs, but the not-so-great recovery has so far replaced the lowest-paying jobs at a much fast...

Why We Don't Need The Debt Ceiling

New Yorker | James Surowiecki | Posted 09.25.2011 | Business

In the past few years, the U.S. economy has been beset by the subprime meltdown, skyrocketing oil prices, the Eurozone debt crisis, and even the Tohok...

The Great Recession: Is It Time For A Name Change?

The Huffington Post | James Sunshine | Posted 09.25.2011 | Business

In 2008, then-President George W. Bush announced that America was in the process of what he called an economic "slowdown." But by as early as that Dec...

Housing Prices Unchanged For First Time In Nearly Year

Posted 09.25.2011 | Business

NEW YORK (Leah Schnurr) - Single-family home prices were unchanged in May, the first time in nearly a year they have not fallen on a monthly basis, th...

10 Cities Spending The Most On Fast Food

The Huffington Post | Harry Bradford | Posted 09.24.2011 | Business

Few topics provoke such fierce debate in America as fast food. But like it or not, the drive-thru has become more popular than ever with the economy g...

What It's Like To Be Goldman's CEO

New York Magazine | Jessica Pressler | Posted 09.24.2011 | Business

Dressed down in shirt sleeves and scuffed loafers, he doesn't seem so much like the Devil, as Don Imus has taken to calling him, than someone you migh...

10 States With The Highest Unemployment Rates: BLS

The Huffington Post | James Sunshine | Posted 09.22.2011 | Business

Job creation in the United States has been weak, at best, in recent months. And for those states most devastated by the financial crisis, that truth t...

Simon Johnson: Tax Reform Could Help Secure Financial System

The New York Times | Simon Johnson | Posted 09.21.2011 | Business

In the deafening cacophony of voices in Washington on the debt ceiling, it is easy to miss a potentially more significant development. There is growin...

Rejected Dodd-Frank Rule Means Less Control For Shareholders

Posted 09.21.2011 | Business

(Sarah N. Lynch) - A U.S. appeals court has rejected a new Securities and Exchange Commission rule intended to make it easier for shareholders to nomi...

Paul Krugman: Washington Determined To Prolong 'Lesser Depression'

The New York Times | Paul Krugman | Posted 09.21.2011 | Business

These are interesting times — and I mean that in the worst way. Right now we’re looking at not one but two looming crises, either of which could p...