The Obama administration wants to create a super-regulator and is calling for an independent financial products agency to regulate the financial system. Commentator David Frum says these reforms fail to get at the root of the problem.
California lawmakers don't have much time to resolve a record $24 billion budget gap. The crisis has spurred massive cuts in local funding, making it painful for the poorest Californians. Rob Schmitz reports.
Citigroup, which accepted two infusions of TARP money, wants to raise some of its employees' base salaries by as much as 50 percent. The pay increase is meant to compensate for reduced bonuses. Ashley Milne-Tyte reports.
The Federal Reserve is keeping interest rates near zero, and didn't announce any new bailouts or loan programs. So, what exactly did the Fed have to say after it ended its two-day meeting? John Dimsdale reports.
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