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During the darkest 10 years of the Great Depression, from September 1929 to September 1939, the stock market dropped roughly 50%, adjusted for inflation. With today's drop in the stock market, the U.S. has now matched that unfortunate milestone.
General Motors Corp. shares on Friday tumbled to their lowest level in more than 70 years, pulled down by a drop in the broader markets and continued speculation about the future of the struggling automaker.
Bank of America Corp and Citigroup shares plummeted for a 6th straight day, hammered by fears that the US government could nationalize the banks, wiping out shareholders. Both stocks have lost more than 90% of their value in the last year.
Gold for April delivery, which has surpassed February gold in trading volume, was up $21 to $997.50 an ounce in New York after climbing to a high of $1,000.30 earlier in the session.
Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders. Both stocks have lost more than 90 percent of their value in
“The banking problem in Europe is becoming more severe,” Roubini said in a Bloomberg Television interview. “You have a series of countries that are really in trouble,” Roubini said, citing Latvia, Estonia, Lithuania, Hungary, Belarus and Ukraine.
Sales are a little thin for mint and other Girl Scout cookies so far this year.
NEW YORK (Reuters) - Shares of Citigroup (NYSE:C - News) dropped more than 20 percent to fall below $2 as bank shares plummeted shortly after the opening bell on Friday on fears the U.S. bank rescue plan might include nationalization.
The banking sector has suffered a thirty percent loss in two weeks, in the very sector that we were promised would be "saved" by our new President, and that two weeks has passed without one iota of a plan being actually released.
Santa-Maria called Bank of America to ask how to check the balance of his new unemployment benefits debit card. The bank charged him 50 cents. He chose not to complain. That would have cost another 50 cents. So he took out some of the money and then
Gold doesn't always perform in high inflationary periods. Or high deflationary periods. So when does it perform well?
The blue chips broke through a psychological barrier established in November to close at their lowest level since Oct. 9, 2002, the last bear market low.
Being a good, patriotic American apparently means doing something with your money. No, not that, something else.
“There’s never been a lender of that scale in this predicament,” Robertson said in an interview. “Portfolios that have been required to sell themselves to a lender because they’ve gone underwater have been far smaller.”
In the week ending Feb. 14, the advance figure for seasonally adjusted initial claims was 627,000, unchanged from the previous week's revised figure of 627,000.
Texas financier R. Allen Stanford is accused of cheating 50,000 customers out of $8 billion dollars but despite raids of his financial empire in Houston, Memphis, and Tupelo, Miss., federal authorities say they do not know the current whereabouts of
Alan Greenspan had some explaining to do. In 2000, The Washington Post’s Bob Woodward published a biography of the chairman of the Federal Reserve Board entitled “Maestro,” with the cover image portraying Greenspan in full oracle mode: testifying
A handful of Republican governors are considering turning down some money from the federal stimulus package, a move opponents say puts conservative ideology ahead of the needs of constituents struggling with record foreclosures and soaring unemployme
He sold more than half of his 52 million shares of Johnson & Johnson and he sold it at a 20-year low relative to its yield. That doesn't sound like "Buy America." That sounds like "Sell America."
This is not the first time in history that banks are keeling over, and won't be the last time, especially if we have a Fed attempting to micromanage the economy. Sure, it's going to be painful, but it's only going to be painful ONCE.
The sell-off came despite the signing of the $787 billion stimulus package by President Obama and as auto executives faced a deadline to submit restructuring plans to the federal government after receiving billions in bailout money.
Worries about the deteriorating financial situation in countries like Romania and Hungary led to a huge sell-off that began overseas and crashed ashore on Wall Street. Every sector sank, with financial stocks leading the way and energy companies fall
Former U.S. Federal Reserve Chairman Alan Greenspan said on Tuesday the current global recession will "surely be the longest and deepest" since the 1930s and more government rescue funds are needed to stabilize the U.S. financial system.
In Texas, Robert Allen Stanford was just another wealthy financier. But in the breezy money haven of Antigua, he was lord of an influential financial fief, decorated with a knighthood, courted by government officials and basking in the spotlight of s
GM said it could need up to $30 billion from the Treasury Department, up from a previous estimate of $18 billion. That includes $13.4 billion previously allocated and $91. billion in new loans. The world's largest automaker said it could run out
DOW off 298 points (3.8%) S&P 500 off 38 points (4.6%) NASDAQ off 64 points (about 4.1%)
An $8 trillion negative wealth effect from declining home values. A $10 trillion negative wealth effect from weakened capital markets. A $14 trillion consumer debt load amid "exploding unemployment"
Don't hold your breath if Kansas owes you money. Kansas suspends income tax refunds, may miss payroll.
States are facing a great fiscal crisis. Combined budget gaps for the remainder of this fiscal year and state fiscal years 2010 and 2011 are estimated to total more than $350 billion.
The unsold cars and trucks piling up at dealerships and assembly lines as consumers cut back and auto companies scramble for federal aid are just one sign of a major problem hurting the economy and only likely to get worse. The world is suddenly a
