NEW YORK A bankruptcy judge decided early Saturday that Lehman Brothers can sell its investment banking and trading businesses to Barclays, the first major step to wind down the nation's fourth-largest investment bank.
WASHINGTON The Bush administration sketched out a multi-faceted effort on Friday to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other to
NEW YORK Wall Street's biggest crisis since the Great Depression forced the Federal Reserve and central banks in other countries to pump billions of dollars into the world's banking system in an urgent bid to stop further damage.
Now that the government has taken over mortgage giants Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), struggling Black homeowners could soon have their loans restructured.
NEW YORK Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 protection in the biggest bankruptcy filing ever on Monday and said it was trying to sell off key business units.
WASHINGTON Treasury Secretary Henry Paulson says the American people can remain confident in the "soundness and resilience in the American financial system."
WASHINGTON–Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial
WASHINGTON–Americans’ productivity soared in the spring while labor costs declined, two welcome outcomes that should relieve concerns that inflation is getting out of hand. The Commerce Department reported recently that productivity, the amoun
The untimely deaths of Bernie Mac (age 50), Issac Hayes (age 65) and Ohio Cong. Stephanie Tubbs Jones (age 58) are poignant examples of the fragility of our existence in the world. Our undefined timeline on earth will by definition leave our mission incom
WASHINGTON-Comcast Corp. is appealing an FCC ruling that the company is improperly blocking customers’ Web traffic, triggering a legal battle that could determine the extent of the government's authority to regulate the Internet.
