Taxpayers are paying billions to protect the Big Three, who make up the American auto industry. But commentator Robert Reich says we should reconsider what that industry really is as the Big Three continue to cut American jobs.
President Obama is in Phoenix today speaking to homeowners about his plan to help those who are struggling reduce their mortgage payments. But some skeptics worry about what the plan will cost. Rene Gutel reports.
GM and Chrysler say they need another $14 billion to stay in business. The companies offered survival plans promising draconian cuts in union contracts and other expenses. Janet Babin explores what else will be involved.
Money is getting tighter for the high-end shops on Greenwich Avenue in Greenwich, Conn., which caters heavily to the finance industry. Amy Scott visited a few stores on the Avenue to find out what a markdown meant to them.
The Securities and Exchange Commission has frozen the assets of businessman R. Allen Stanford, who is accused of an $8 billion fraud. Aside from the deep financial wound, investor confidence has also been hit. Dan Grech reports.
Western European banks poured more than a trillion dollars into the eastern part of the continent during the recent European boom. But now strapped for cash, they're pulling out. Stephen Beard reports.
President Obama's car task force will have to decide whether to honor GM and Chrysler's request for more government bailout money or let the companies fall. Janet Babin explores the automakers' sentimental value.
A new report out today says the FDA is not doing enough to guard patients' health when it comes to life-saving medical equipment. A key issue is a lack of oversight in equipment safety. Ronni Radbill reports.
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