The Commerce Department reports that the economy shrank by 6.1% in the first quarter. But there are still reasons for investors to be hopeful. Jeremy Hobson explains.
Rates of interest on savings accounts have fallen along with the federal funds rate. As Ashley Milne-Tyte reports, savers are likely to face more lean times.
As big banks get results from their stress tests, some say Bank of America and Citigroup may need to raise billions in capital to keep running. What do the results mean for the banks and public? Jeremy Hobson reports.
According to the White House's bank stress tests, Bank of America and CitiGroup need to raise a lot more capital. But Steve Henn reports it may have been important for these banks to fail in order for us to take these tests seriously.
Some areas of the country are being hit particulary hard by the economic downturn. Reporter Amy Scott visited a job fair in Youngstown, Ohio, once a thriving steel town now with a double-digit unemployment rate.
President Obama recently held meetings with execs from credit card companies in an effort to finally pass a consumer bill of rights. John Dimsdale reports.
Consumer groups have been fielding complaints about credit card companies for a while now, but legislation may be right around the corner. Linda Sherry of Consumer Action talks about the biggest gripes she has heard over the years.
Almost everyone has a kind of love/hate relationship with their credit cards. Reporter Eve Troeh hit the streets at lunchtime to talk to some people about how their current relationship with credit cards is faring.
The need for charities and programs that provide food and shelter is growing, but donations are down. Kai Ryssdal reports on a privately-funded Meals on Wheels program in Los Angeles that's hungry for help.
Businesses and local governments are having to come up with billions of dollars in new and unanticipated pension fund contributions at the worst possible time. Steve Henn reports.
