AIG is collecting $30 billion more from the government to add to its hefty $150 billion tab. And the insurance giant reported losing nearly $62 billion in the fourth quarter. Why is it losing so much money? Steve Henn reports.
The recession is causing people to talk more openly about money. It's also helping people be more frugal. Kai Ryssdal speaks with behavioral economist Dan Ariely about why it's a good thing people are saving.
Credit card companies are feeling the effects of the recession. To get people to swipe more of its debit cards, Visa is launching a new ad campaign that focuses on everyday spending needs. Rico Gagliano reports.
Government figures show that Americans are saving more disposable income. While saving may be good in the long run, it's not helping to kick-start the ailing economy. John Dimsdale reports.
Some Eastern European countries want Western Europe to create a multibillion-dollar fund to help their struggling economies. Kai Ryssdal speaks with London Bureau Chief Stephen Beard about how the idea is causing a divide between East and West.
A group of leading economists start a three-day conference today near Washington, D.C. While some see a glimmer of hope in an economic rebound late in the year, most say it's going to get worse first. Bob Moon reports.
E.U. leaders met over the weekend to attempt a unified approach to the financial crisis, but ended up resurfacing the line between East and West Europe. Bill Radke discusses tensions along the split with Stephen Beard.
European bank HSBC is cutting back on its consumer lending in the U.S. after reporting a large fall in profits due to U.S. subprime mortgages. More than 6,000 jobs could be lost in the move. Stephen Beard reports.
Although TARP assets focus on helping troubled banks, the funds were also originally intended to include the insurance industry. Bill Radke talks to Frank Keating of the American Council of Life Insurers about what happened to that end of the bailout.
American International Group announced a $61.7 billion loss in the fourth quarter, the biggest quarterly loss in history. The U.S. government will give AIG a $30 billion rescue package, but Dan Grech reports this bailout will be different.
