There's growing evidence of a generational impact from the crisis, similar to how the Great Depression created a generation of penny pinchers.
The recession has directly hit more than half of the nation's working adults, pushing them into unemployment, pay cuts, reduced hours at work or part-time jobs, according to a new Pew Research Center survey.
The internal numbers from yesterdays Consumer Confidence Survey were really very ugly. The American public has no interest in buying a house or car, and their view of the economy is down right bearish.
When the government began rescuing AIG from collapse in the fall of 2008 with a $182 billion lifeline, AIG was required to forfeit its right to sue several banks over any irregularities with most of the mortgage securities it insured in the precrisis
Yet another huge disappointment for markets to digest -- ADP's June employment report showed just 13,000 new jobs were added from May to June on a seasonally-adjusted basis, vs. 61,000 expected. That's clearly a huge miss.
Despite signs of recent progress, "there's no possibility to restore 8 million jobs lost in the Great Recession," a notably candid Vice President Joe Biden said Monday. Friday's jobs report is expected to show overall payrolls declined by 115,000...
Reversing its oft-repeated position that it was acting only on behalf of its clients in its exotic dealings with the American International Group, Goldman Sachs now says that it also used its own money to make secret wagers against the U.S. housing m