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US Economy

Poll: Views On Economy At All-Time Low

CBS News | Posted 05.25.2011 | Business

Americans' views on the economy and the general state of the country have hit an all-time low in the history of the CBS News/New York Times poll. Eigh...

Concern Over Country's Direction At Greatest Level Ever Recorded

New York Times | DAVID LEONHARDT and MARJORIE CONNELLY | Posted 05.25.2011 | Politics

Americans are more dissatisfied with the country's direction than at any time since the New York Times/CBS News poll began asking about the subject in...

Manhattan Home Sales Slow, Prices Rise

AP | J.W. ELPHINSTONE | Posted 05.25.2011 | Business

NEW YORK — Turmoil on Wall Street and a sluggish economy finally slowed home sales in the Big Apple in the first quarter, but a slew of big-tick...

Bernanke Says Recession Possible

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — For the first time, Federal Reserve Chairman Ben Bernanke acknowledged the U.S. could reel into recession from the powerful punches...

Weak Economy Forces Elderly To Delay Retirement

Wall Street Journal | Jennifer Levitz | Posted 05.25.2011 | Business

As the falling real-estate and stock markets erode their savings, many aging Americans are delaying retirement, electing labor over leisure in uncerta...

Trust Not in Trust Funds

Scott Bittle and Jean Johnson | Posted 05.25.2011 | Business
Scott Bittle and Jean Johnson

The U.S. government is going to give itself a financial hernia paying back the Social Security and Medicare funds and keeping up with demand.

Brazil To Bush: Fix Your Economic Crisis

AFP | Posted 05.25.2011 | Business

Brazil President Luiz Inacio Lula da Silva said Thursday he told US President George W. Bush to fix his country's economic problems before they spill ...

More Government Bailouts May Be on Way

AP | TOM RAUM | Posted 05.25.2011 | Business

WASHINGTON — The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters ar...

Economy Nearly Stalled in 4th Quarter

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The economy nearly sputtered out at the end of the year and probably is faring even worse now amid continuing housing, credit and f...

Stocks In Longest Funk Since 1970s

Wall Street Journal | E.S. BROWNING | Posted 05.25.2011 | Business

Over the past 200 years, the stock market's steady upward march occasionally has been disrupted for long stretches, most recently during the Great Dep...

Paulson Says New Financial Rules Needed

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — If big Wall Street investment houses are allowed to run to the Federal Reserve for emergency lending, they must face stepped-up reg...

Sensational Economic Stories Taper Off

New York Observer | Tom Acitelli | Posted 05.25.2011 | Business

"I think that one of the things in this crisis all along has been it's like a mystery novel," David Wessel, the economics editor for The Wall Street J...

20,000 Wall Street Jobs Threatened By Credit Crisis

Guardian | Andrew Clark | Posted 05.25.2011 | Business

More than 20,000 people are forecast to lose their jobs on Wall Street as the credit crunch bites into business at financial institutions over the nex...

Consumer Confidence Plunges in March

AP | EILEEN ALT POWELL | Posted 05.25.2011 | Business

NEW YORK — American consumers are gloomier about the economy that at any point since just before the U.S. invasion of Iraq, as slumping housing ...

In Week Of Iraq War Anniversary, Obama's Race Speech Dominated Media Coverage

Huffington Post | Rachel Sklar | Posted 05.25.2011 | Media

Last week was a big one for news: On Monday, the markets opened to news that Bear Stearns had collapsed and was being bought out by JP Morgan; on Tues...

Government Benefit Programs in Trouble

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Trustees for the government's two biggest benefit programs warned that Social Security and Medicare are facing "enormous challenges...

Goldman Sachs: Wall St. May Face $460B In Losses

Bloomberg | Zhao Yidi | Posted 05.25.2011 | Business

Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost fo...

Into the Economic Abyss

AP | RACHEL BECK and ERIN McCLAM | Posted 05.25.2011 | Business

NEW YORK — For months, Americans have been subjected to a sort of economic water torture _ a maddening drip of bad news about jobs, gas prices, ...

JPMorgan Raises Bear Purchase Price

AP | JOE BEL BRUNO | Posted 05.25.2011 | Business

NEW YORK — JPMorgan Chase & Co.'s higher offer for Bear Stearns on Monday gave the investment bank control of nearly 40 percent of its ailing ri...

Most Americans Will Save, Not Spend, Tax Rebate Checks

CNN/Money | Ben Rooney | Posted 05.25.2011 | Business

Tax rebates are the centerpiece of the government's plan to stimulate the economy, but many Americans are planning to put the money in the bank or use...

Wall Street's Crisis Hits Main Street

New York Times | Peter S. Goodman | Posted 05.25.2011 | Business

In Seattle, sales at a long-established hardware store, Pacific Supply, are suddenly dipping. In Oklahoma City, couples planning their weddings are de...

Paul Krugman: Partying Like It's 1929

New York Times | Paul Krugman | Posted 05.25.2011 | Business

If Ben Bernanke manages to save the financial system from collapse, he will -- rightly -- be praised for his heroic efforts. But what we should be as...

Econ 101: Credit Crunch For Dummies

ABC News | SCOTT MAYEROWITZ | Posted 05.25.2011 | Business

Is your head spinning these days trying follow what is going on with the economy? Subprime. Collateralized Debt Obligations. Liquidity. Every day it...

Wall Street's Next Big Bailout?

Eben Esterhuizen | Posted 05.25.2011 | Business
Eben Esterhuizen

Perhaps Wall Street's ultimate bailout will come when central banks coordinate efforts to save the U.S. dollar.

Fed Cuts Interest; Stocks Soar

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve slashed a key interest rate by three-quarters of a point Tuesday, capping its most aggressive two months of act...