Documents Show Fannie, Freddie Execs Ignored Warnings
Posted: 5:58 PM They were warned, but apparently failed to act.
Posted: 5:58 PM They were warned, but apparently failed to act.
Posted: 1:45 PM Interest rates on four-week Treasury bills fell to zero in Tuesday's auction, as investors still sought the safety of government securities without any return on their investment.
Posted: 12:35 PM Private Colorado economist Tucker Hart Adams says there's a high probability the recession will last at least through 2009.
Posted: 9:17 AM Sen. Chris Dodd says soaring unemployment across the country amounts to a "game-changer" in the debate over financial aid to the auto industry.
Posted: 8:25 AM A White House spokeswoman says it is "very likely" that the Bush administration could reach a deal with Congress on Monday to get emergency aid to failing U.S. automakers.
Posted: 7:29 PM House and Senate aides are hammering out legislation that would dole out billions to automakers within a week.
Posted: 3:26 PM The price of gasoline keeps going down.
Posted: 3:23 PM Vail Resorts plans to lay off about 50 workers and eliminate nearly 100 vacant positions following a significant drop in advance bookings.
Posted: 10:13 AM Bush spoke to reporters Friday on the South Lawn not long after the release of a government report showing a big jump in the unemployment rate.
Posted: 7:21 AM The Labor Department said Friday employers cut 533,000 more jobs in November -- the most since 1974. Analysts were expecting 320,000 job cuts. The unemployment rate is up to 6.7 percent from 6.5 percent in October.
Posted: 11:49 AM Wall Street is taking in a larger-than-expected drop in factory orders with relative calm.
Posted: 11:18 AM Federal Reserve Chairman Ben Bernanke is calling on the government to ramp up efforts to stem home foreclosures that are feeding into the country's deep economic troubles.
Posted: 8:24 PM More cuts in flights, further job losses for at least one major air carrier.
Updated: 7:33 PM A financially strapped local school district in Ohio is taking a cue from Detroit.
Posted: 7:11 PM Xcel Energy has asked regulators to increase the amount it can charge consumers to help recover the cost of renewable-energy generation.
Posted: 3:04 PM State corrections officials are having trouble paying their legal bills, and some local prosecutors who handled the cases are feeling the pinch.
Posted: 10:56 AM Treasury Secretary Henry Paulson says China must continue allowing its currency to rise in value against the dollar as part of reforms to address trade tensions with the United States.
Posted: 7:30 PM Frontier Airlines Holdings Inc. has reported a net loss of $20.5 million for October as the company works to emerge from bankruptcy protection, citing large losses stemming from fuel hedging activities and reorganization.
Updated: 12:59 PM A private group says the U.S. economy has been in a recession since December of last year.
Posted: 10:38 AM The U.S. dollar was lower against other major currencies in European trading Thursday morning. Gold rose.
Posted: 10:36 AM General Motors Corp. is looking at selling and leasing back some of its non-manfacturing operations in Europe in an effort to raise cash.
Posted: 7:44 AM Malls from Michigan to Georgia are entering foreclosure, victims of the same crisis that's affected the housing market. Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages. That pace is expected to quicken.
Posted: 11:02 AM Bank stocks across Europe were doing particularly well, while heavyweight energy stocks firmed following Wednesday's 8 percent rally in the price of oil.
Posted: 2:57 PM Wall Street has accomplished a feat that seemed impossible just a week ago, rallying and propelling the Dow Jones industrial average and Standard & Poor's 500 index to their fourth straight winning sessions. Investors' growing confidence in the nation's financial system fed this latest advance.
Updated: 6:23 PM Gov. Bill Ritter says Denver is in the running to get a daily nonstop flight to Tokyo.