Transparency in Wall Street's innovative but extremely complex hybrid securities is all well and good, but when the disclosed information is too hard to understand, what's the point? Bob Moon asks if financial innovation has gone too far.
JPMorgan CEO Jamie Dimon says he's only going to keep about 40% of the current Bear Stearns staff on the payroll. That decision is going to make an already tough job market on Wall Street even more difficult. Ashley Milne-Tyte reports.
Commentator Fareed Zakaria says the growth of developing economies is a major factor in our current economic crisis. We know how to handle a recession, he says, but the worldwide growth we're now seeing isn't something we've dealt with before.
Although the cost of feed is soaring, the cost of chicken has barely budged this year. Ashley Milne-Tyte reports that chicken producers would love to raise their prices like everyone else, but are held back by retailers.
Europe's largest bank, HSBC, has made another big write-down because of subprime mortgages in the U.S. This news comes even though the bank has had a profitable first quarter. From London, Stephen Beard reports.
Battered Citigroup has raised money from investors, laid off employees and sold off chunks of the business. It wasn't enough. Today the company announced it would sell off $400 billion in assets. Amy Scott has more.
Next week, the government releases its consumer price index for April, so we'll get to see just how high the cost of living has jumped, right? But economists aren't predicting a big jump in the cpi. Nancy Marshall Genzer asks why.