The subprime mortgage debacle has given debt a bad rap lately. But there was a time when borrowing money helped establish a strong middle class. Stephen Smith reports.
Some cash-strapped cities and towns are nixing Fourth of July celebrations because they can't afford expensive fireworks displays. But one Massachusetts town won't let the economy ruin its holiday. Curt Nickisch reports.
A new law is motivating people to trade in their old vehicles for more energy-efficient models. Tess Vigeland braves a car lot in Santa Monica to get the low-down on the Cash for Clunkers trade-in program and tax incentives for new cars.
Federal Reserve Chairman Ben Bernanke is on defense, denying claims that he deliberately hid information about Bank of America from other regulators. Tamara Keith reports.
