ON AIR NOW
Click to Play
"The U.S. government will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks," regulators said.
Electronics retailer Circuit City Stores reached an agreement with liquidators on Friday to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.
More imminently, the state is projected to run out of cash in weeks, which may require it to delay tax refunds and other payments starting Feb. 1. "The reality is that our state is incapacitated until we resolve the budget crisis," Mr. Schw
Boomers have known only inflationary or reflationary conditions for most, if not all of their conscious lives. Here is the pattern: Want, work, borrow, spend, enjoy, and worry about the bills tomorrow, as if tomorrow would never come.
Today, said it could not say exactly how many people would be required to take time off, or how much money the company would save. But it said it would require unpaid leave for most of its 31,000 employees in this country.
The selloff in Bank of America and Citigroup may just be the beginning. Analysts now are predicting that the same problems hitting those two big banks will soon spread to the entire industry.
The problem is not so much the banking system and a lack of confidence in it. They do not deserve any. Our financial system has become a shell game, an extended accounting fraud, that permeates and selectively destroys whole segments of the real econ
Societe Generale said on Thursday that the United States' economy looks likely to enter a depression and China's could implode.
U.S. foreclosure filings jumped 81 percent last year as falling house prices, tighter mortgage lending and the longest recession in a quarter century battered property owners, RealtyTrac Inc. said.
Big financial institutions have been battered by mortgages gone bad. But a tiny Michigan bank is getting attention in the industry by turning a profit on loans without even charging interest.
Ron Paul explains how we got into this mess at a House Financial Services Committee meeting. Where was Ben Bernanke?
I can understand why the FEDS want to eliminate ammunition availability, but KIDS CLOTHES, TOYS, AND BOOKS!?!
Any possible arrangement might protect Bank of America from losses on Merrill's bad assets. There would be a cap on the amount of losses the bank would have to absorb with the federal government being on the hook for the remainder ...
In an interview this afternoon with Maria Bartiromo, Meredith Whitney said the banks had underestimated the fall in housing prices, and the rise in unemployment. She also pointed out that the TARP money was going quickly.
The wave of bankruptcies that was predicted for the first 3 months of 2009 is starting to wash ashore.
EWI was alone in forecasting a deflationary collapse across nearly every asset class. Editors of The Elliott Wave Financial Forecast, were alone in not predicting a commensurate run-up in commodity prices – which inflation-fearing analysts mistakenly
Think Fannie Mae and Freddie Mac were a politicized financial disaster? Just wait until pension funds implode.
Although the Census Bureau reported that nominal retail sales decreased 10.2% year-over-year (retail and food services decreased 9.8%), real retail sales declined by 11.3% (on a YoY basis). This is the largest YoY decline since the Census Bureau star
Citigroup will combine Smith Barney with the wealth management division of long-time rival Morgan Stanley. Citigroup will own 49% of the joint venture and get a cash payment of $2.7 billion from Morgan Stanley, which can buy the rest of the joint ven
Chrysler is in talks to sell key assets to Nissan-Renault and auto supplier Magna as it rushes to restructure after taking $4 billion U.S. government loans, according to people with knowledge of the discussions.
“I can’t ever remember having to stop construction on a building, but we’ve never faced a financial crisis like this,” said Ray Dormaier, UCI’s vice chancellor of planning and budget.
WASHINGTON (AP) - The Treasury Department says the federal government already has run up a record deficit of $485.2 billion in just the first three months of the current budget year.
It would be irresponsible in the extreme for an individual to forestall a personal recession by taking out newer, bigger loans when the old loans can't be repaid. However, this is precisely what we are planning on a national level.
Consumer confidence fell to a record low in December as the worst job market in 16 years hammered sentiment, the Conference Board said on Tuesday.
The composite index of 20 metropolitan areas fell 2.2 percent in October from September. The price drops, both on a year-over-year and month-over-month basis, came in worse than expectations based on a Reuters survey of economists.
The disinformation by the global financial dailies in the last twelve months as to the cause of the global financial tsunami, serve the same purpose as the global mass media when they perpetuated the lies that lulled the people to support the war cri
Words Eye View
The following ominous words came from an American missionary friend in China on December 26 at 5:05 am. “Care must be taken in communications. We are sending out less at this time. For the reason, please go to the link provided below.”
U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years.
The next stage in this financial crisis would be the collapse in employment, says Roger Nightingale, strategist at Pointon York. In light of this, he offers advice on how to invest with CNBC's Rebecca Meehan & Lisa Oake.
