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Moody's: Banks Have Written Down 2/3 Of Bad Loans

AP | Posted 05.25.2011 | Business

NEW YORK — Moody's Investors Service said Wednesday it appears U.S. banks have written off about two-thirds of the bad loans they're likely to face ...

The First Domino: Foreclosure Fraud and the 'Invisible Bailout'

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

Foreclosure fraud is one domino, and if it falls, the result could be an end to the "invisible bailout" -- the one you never hear about, that forces millions of people to subsidize bad lending practices to prop up Wall Street.

Citigroup's Job Cuts Could Exceed 30,000

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

Citigroup's job cuts could reach 30,000 or more over the next year and a half because of increasing writedowns from subprime-related debt, CNBC has le...

CEOs Defend Their High Pay on Hill

AP | JIM ABRAMS | Posted 05.25.2011 | Business

WASHINGTON — Three corporate executives called in for a shaming by Democratic lawmakers Friday defended raking in hundreds of millions of dollar...

Writedowns Hit $120 Billion

Wall Street Journal | David Gaffen | Posted 05.25.2011 | Business

The admissions of greater-than-expected writedowns from Swiss bank UBS, along with reports out of major Japanese institutions, means the total amount ...