Once one of the top investment banks on Wall Street, Bear Stearns was offered a mere $2 a share in a bailout deal offered by JP Morgan. Janet Babin reports on how the subprime crisis may have triggered the bank's dramatic fall.
Bear Stearns' stunning collapse came a week after things seemed normal for the bank. Scott Jagow talks to economist Diane Swonk, who says panic in the market and clients turning their backs prompted the trouble.
The Federal Reserve took some emergency measures Sunday night after fire sale of investment bank Bear Stearns. Scott Jagow talks to Hong Kong investment advisor Puru Saxena and Stephen Beard in London to get world markets' reaction.
Oil is up, the dollar is down and economists are saying there's no more denying a recession. But Nancy Marshall Genzer reports despite trouble in the market, there's a silver lining to the weakened economy.
Treasury Secretary Henry Paulson outlined several recommendations yesterday for the financial markets, including tougher licensing requirements. Stacey Vanek-Smith looks at whether this extra regulation will help.
Government economists use the Consumer Price Index measure inflation based on our needs -- from food and housing to clothes and transportation. But some think the CPI isn't very accurate. Alisa Roth reports.
Four dollar per gallon is slowly becoming a reality in many parts of the country. Lisa Napoli talks to Garrett Nishida, front desk manager of the Sheraton in Maui, about his feelings on the new gas prices in Hawaii.
U.S. Treasury Secretary Henry Paulson is in Washington today to discuss his plan for avoiding another credit crunch. But Nancy Marshall Genzer reports the crisis is likely to last over the next couple of months.