Economic cycles are Darwinian, picking off weak companies and leaving survivors stronger. Corporate survivors, however, should benefit as competitors disappear. But it won't be easy.
Federal Reserve Chairman Ben Bernanke pledged Friday to work closely with other central banks to fix global financial problems and left open the door to a fresh interest rate cut.
One the country's largest banks says it will reach out to 500,000 distressed home owners to modify loans.
The government is preparing to unveil a plan as soon as Thursday guaranteeing around 3 million mortgages to troubled homeowners, sources briefed on the matter said.
Maribel Carrillo is one of the new, happy-ending stories for bank regulators who hope to stem the foreclosure pandemic by modifying delinquent mortgages in bulk.
The relentless slide in home prices has left nearly one in six U.S. homeowners owing more on a mortgage than the home is worth, raising the possibility of a rise in defaults.
Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her.
The House passed a financial rescue package and President Bush quickly signed it. But will it work? Here's a look at how the massive bill will affect you.
Latest Comments
A ‘great haircut’ to kick-start growth
Boehner urges debt committee to tackle taxes
Boehner urges debt committee to tackle taxes
The housing slump is far worse than you think
The housing slump is far worse than you think
The housing slump is far worse than you think
The housing slump is far worse than you think
Bank of America halts all U.S. foreclosures
Big banks see fairness issue with mortgage aid
Debate on mortgage system's future heats up