Fallout: The Financial Crisis

Bank leaders will testify today in front of the House Financial Services Committee on their use of bailout funds. The industry is being criticized for hoarding taxpayer money instead of increasing lending. Jeremy Hobson reports.

Hedge funds had a rough ride in 2008, but things could be turning around. The hedge fund industry has made a profit for two months in a row now. Stephen Beard reports why this is a good sign for the global economy.

Markets in Asia and Europe are trading lower this morning on a U.S. "sneeze." Jeremy Hobson explores the Geithner effect on overseas markets and why some of the markets are relying on U.S. success.

The government's plan to stabilize the financial system may cost more than a trillion dollars in new spending. But there's less than $350 billion left in the original bailout. As Steve Henn reports, private investors and the Federal Reserve may be footing the bill.

U.S. Treasury Secretary Timothy Geithner recently criticized China for currency manipulation. But with many of the world's advanced economies in financial crises, commentator Helen Popper says now is the time to cooperate with them to boost our own.

With all the scrutiny banks are getting these days, the industry is being extra cautious. Goldman Sachs is moving its annual investor conference from Las Vegas to San Francisco, the latest sign of a new, more serious era on Wall Street. Amy Scott reports.

The Treasury Department announced that banks with more than $100 billion in assets will be required to undergo a comprehensive stress test to check their viability before receiving more aid. But can a test really tell us how healthy these banks are? John Dimsdale reports.

Four top British bankers are being hauled before a parliamentary committee on two of the U.K.'s financial crisis big casualties, Royal Bank of Scotland and HBOS. Stephen Beard explains the ritual humiliation.

President Obama's stimulus package is awaiting a Senate vote, and states are worried about losing up to $40 billion in funding. Janet Babin reports higher education would likely suffer first.

Treasury Secretary Tim Geithner unveiled a revamped financial rescue plan this morning to untangle the banking system and support new lending. Bill Radke explores some sticking points of the new Financial Stability Plan.