It's Bank of America's turn to lay off thousands, but all big banks are waiting for the final reckoning still to come on their troubled real estate portfolios
Bank of America announced 3,500 layoffs today, with thousands more on the way. Professor Perry Mehrling of Barnard College explains why the layoffs signal tough times ahead for the banking industry.
It seems as though every drop in U.S. stocks is reflected in Europe, and vice versa. We go 'round the world to explore the cyclical nature of global markets.
Banks have been getting stronger and more profitable since their big bailout, but they still get shaky every time the markets have a tumble. It has a lot to do with old debt and short term confidence
The New York Federal Reserve is seeking to ensure that the U.S. arms of European banks are holding enough money in their coffers, in order to be prepared for a future crisis.
After another big sell-off yesterday, shares are back up in overseas trading this morning — one reason for that rebound is that people aren't as worried about French banks and the credit rating of France's debt.
