The announcement that American Home Mortgage will drastically cut operations and lay off 7,000 may be just the beginning of a crisis in the U.S. lending market. Steve Henn reports on how deep the problem goes.
China has been accused of keeping the value of its currency low to bolster exports. Cheap goods help U.S. retailers but can hurt manufacturers. Jill Barshay reports on the battle in Congress over protectionist measures.
As credit tightens in the wake of the subprime lending crisis, some analysts warn that it could impact lending in other areas. And that's one more risk factor on the recession pile. Steve Tripoli reports.
The recent global buying frenzy has been fueled by relatively low interest rates on the Japanese yen. Consultant Roger Bootle says the downward turn in stocks could get worse if that flow of cash gets scarce.
Treasury Secretary Henry Paulson believes the tax burden on businesses is driving some companies away. Critics say closing tax code loopholes benefitting well-connected industries is a better move. Jeremy Hobson reports.
Funding for a little-known program helping workers who lose their jobs to overseas competition is being held hostage by GOP backers of presidential fast-track trade authority. Chris Farrell explains the controversy.