A grand jury in Houston unseals an indictment today for Texas billionaire Allen Stanford, who surrendered to the FBI yesterday. The SEC accused Stanford of running an $8 billion Ponzi scheme through his bank in Antigua. Steve Henn reports.
Working around unavailable credit, Mexican communities developed a system called tanda to borrow money from their community. Dan Grech explains tanda rules and explores its benefits and pitfalls.
Even though Target-date funds are considered a safer investment vehicle for retirement, these nest-eggs still lost much of their value when the economy tanked. Federal regulators are looking into why. Bob Moon reports.
CDFIs are like banks that do risky lending to low-income people that other banks won't, and their services are needed now more than ever. The institutions will be getting help from the stimulus soon, but can't lend to everyone. Tamara Keith reports.
China just imposed a "Buy Chinese" policy on its economic stimulus package as demand for its exports remains in decline. But the E.U. is upset with the move, saying it sends the wrong signal. Stephen Beard reports.
A new Frontline documentary airing tonight tells the tale of Bank of America's rise to its ill-fated takeover of Merrill Lynch. Bill Radke gets the bigger picture from producer Mike Kirk of "Breaking the Bank."
The National Association of Home Builders housing market index comes out later today, and many think it can be too optimistic. Fortune Magazine's Allan Sloan talks to Steve Chiotakis about where he thinks the housing market is.
For more than a year, the feds have struggled to determine what regulators should do with banks deemed "too big too fail." President Obama is set to unveil a number of proposals today. Steve Henn reports.
