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Great Recession

Geithner One Year Ago: 'Welcome To The Recovery'

The New York Times | Timothy Geithner | Posted 10.03.2011 | Business

THE devastation wrought by the great recession is still all too real for millions of Americans who lost their jobs, businesses and homes. The scars of...

Dow Jones Barely Avoids Longest Losing Streak Since The 1970s

AP | DAVID K. RANDALL | Posted 10.03.2011 | Business

NEW YORK — Stock indexes came back from deep losses in the morning and ended Wednesday with small gains. The Dow Jones industrial average avoide...

Foreign-Born Blacks Hit Hardest Of All Immigrant Groups By Jobs Crisis

The Huffington Post | Harry Bradford | Posted 10.03.2011 | Business

Of all the groups affected by the unemployment crisis, perhaps the hardest hit have been those black citizens born outside the United States. Acco...

White House: Economy Not In Danger Of Double-Dip Recession

Posted 10.03.2011 | Business

WASHINGTON (Alister Bull and David Morgan) - The White House said on Wednesday it does not believe the economy is in danger of a double-dip recess...

The Strike That Ruined Unions

New York Times | JOSEPH A. McCARTIN | Posted 10.03.2011 | Business

THIRTY years ago today, when he threatened to fire nearly 13,000 air traffic controllers unless they called off an illegal strike, Ronald Reagan not o...

U.S. Private Employers Add More Jobs Than Expected In July: ADP

Posted 10.03.2011 | Business

NEW YORK (Reuters) - Private employers added 114,000 jobs in July, topping economists' expectations, a report by a payrolls processor showed on We...

S&P Turns Negative For The Year

Posted 10.02.2011 | Business

NEW YORK (Edward Krudy) - The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turn...

Debt Ceiling Deal Not Such A Deal For Graduate Students

CNN Money | Jennifer Liberto | Posted 10.02.2011 | Business

WASHINGTON (CNNMoney) -- Some students will start owing more on their loans while they're in school under a last-minute debt ceiling deal to keep the ...

Is A Double-Dip Recession Right Around The Corner?

Slate | Annie Lowrey | Posted 10.02.2011 | Business

What does the last-minute deal to raise the debt ceiling do to aid the flagging, faltering economy? Nothing. The economy is in appalling shape. Las...

Tea Party's War on America

New York Times | JOE NOCERA | Posted 10.02.2011 | Business

These last few months, much of the country has watched in horror as the Tea Party Republicans have waged jihad on the American people. Their intransig...

Consumer Spending Falls For First Time In Nearly Two Years

Posted 10.02.2011 | Business

WASHINGTON (Lucia Mutikani) - Consumer spending unexpectedly fell in June to post the first decline in nearly two years as incomes barely rose, a ...

1,200 Workers Locked Out Of Sugar Plants

AP | DAVE KOLPACK | Posted 10.01.2011 | Business

MOORHEAD, Minn. — About 1,300 union workers at seven American Crystal Sugar plants found themselves locked out of their jobs Monday, sitting out...

Manufacturing Sector Latest Sign Of Economic Gloom

Posted 10.01.2011 | Business

The pace of growth in the manufacturing sector slowed more than expected in July, according to an industry report released on Monday. The Insti...

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 autom...

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 th...

Great Recession Substantially Worse Than Previously Thought: Report

AP | MARTIN CRUTSINGER | Posted 09.28.2011 | Business

WASHINGTON — The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse tha...

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 f...

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 S...