The Federal Reserve has one last Christmas gift for the auto industry. It's allowing GMAC, General Motors's financing arm, to become a bank holding company — which makes it eligible for TARP funds. Jeremy Hobson reports.
For laid-off Wall Street workers, attending a Pink Slip Party is both an opportunity to mingle with other job seekers and a chance to maybe land a new job. Amy Scott reports.
The jobless rate in Chinese cities is high and could keep rising if factories don't open up to employees after Chinese New Year. Scott Tong looks into what the government is doing to help prevent social unrest.
In an odd move, the insurance company AIG used $16 billion of its taxpayer-funded loan to buy assets it insures. The move may help the company reduce its own risks. John Dimsdale reports.
Fallout from the Madoff scam continues as lawsuits are pouring in and piling up. Hedge fund managers who invested their clients' money with Madoff are being sued. Jeremy Hobson reports on the legal fallout surrounding the Madoff scandal.
Applications for mortgages are at a five-year high, thanks to the recent interest rate cuts. But mortgage applications don't necessarily mean mortgage loans. Nancy Marshall Genzer explores the connection.
Federal regulators helped struggling bank IndyMac cook its books back in May in order to keep it running in hard times. Steve Henn reports other banks may have engaged in a similar accounting game.
Senators Dianne Feinstein and Olympia Snowe are introducing legislation that would require bailout recipients to give quarterly reports to the Treasury Department of how they're spending the money. Nancy Marshall Genzer reports.
The U.S. economy was not horrific in the third quarter, but this quarter and the next could be trouble. Nancy Marshall Genzer reports the biggest culprit in the third quarter was consumers.
The credit crisis foiled about 1,300 mergers this year, worth a total of about $900 billion. Investment bankers were hurt by the failed deals, but Stephen Beard reports this could help them get a strong leg up for 2009.
