The subprime mortgage crisis is exposing the fact that American consumers have very little money in their pockets. And commentator Robert Reich says that realization could lead the nation right into recession.
Wall Street can be an incestuous place... When Merrill Lynch downgraded its rating on Lehman Bros. because of Lehman's exposure to the credit turmoil, the investment bank downgraded Merrill Lynch. Amy Scott reports.
The non-profit sector is waiting nervously to see how much fallout it'll feel from the credit crunch, and steeling itself for leaner times ahead as wallets everywhere tighten. Ashley Milne-Tyte reports.
The financial world is waiting to see if Ben Bernanke will give any indication of a cut in interest rates at an annual monetary conference tomorrow. Tess Vigeland talks to Michael Sheldon of investment banking firm Spencer Clarke.
Do you get the feeling the market can't make up its mind? One day the Dow plunges, the next day it rockets back. Emotion is loose in the stock market, and lots of regular investors are getting wary. Steve Tripoli reports.
The nation's biggest banks are adjusting their strategies to deal with the supprime loan crisis, and the credit crunch could get worse for all of us. Penn State economics professor John Mason offers some perspective.
Two years ago, the hurricane first touched ground at low-lying Plaquemines Parish in Louisiana. Even as most businesses rebuild on higher ground, a new economic core is taking root in Plaquemines. Sam Eaton reports.
Investors are flocking to the safety of bonds as subprime lending fallout continues to drag Wall Street on a wild ride. The returns are nothing special, but some folks just want to know their nest egg is protected. Stacey Vanek-Smith reports.
Two years after Hurricane Katrina, much of the Gulf Coast is still in ruins. Half of the $100 billion in aid is tied up in bureaucracy and funds are slow in getting to the hardest-hit areas. Sam Eaton reports.