As the House Financial Services Committee met Thursday to discuss the creation of a systemic risk regulator, Senate Banking Committee members were questioning the mettle of the main candidate for the job, the Federal Reserve... [full story]

The truisms have been familiar to generations of Americans: As General Motors goes, so goes the nation; Citigroup is too big to fail; General Electric, one of the 12 original companies in the Dow Jones industrial average... [full story]

The American banking system has become insolvent following the global financial crisis which is likely to be deep and prolonged hitting the economies of the developing and developed world, said a US-based economist. "In... [full story]

About one in eight U.S. homeowners with mortgages, a record share, ended 2008 behind on their loan payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage... [full story]

Toronto's key stock index ended at its lowest closing level in five years on Friday, as early strength credited to a better-than-expected U.S. jobs report faded, replaced by fears about the severity of the economic downturn. The... [full story]

With "no end in sight" for U.S. job losses amid a recession that could stretch into 2010, American workers will soon have to contend with another blow to their confidence: stagnant, or even falling wages. Job seekers... [full story]

The U.S. economy has lost more jobs in the past year than in any downturn in the post World War II period, leading some economists to predict a total destruction of at least seven million jobs and a move to double digit unemployment... [full story]

General Motors Corp. shares fell to their lowest point in more than 75 years Friday, as investors fretted that the ailing auto maker may be forced to file for bankruptcy protection despite government help. GM shares hit... [full story]

Calling the latest job losses astounding, U.S. President Barack Obama promised on Friday to get Americans back to work. In a 12-minute speech, Mr. Obama noted that 651,000 U.S. jobs were lost last month, bringing to “an... [full story]

Freedom Bank of Georgia was seized by regulators, the 17th bank closed this year, as the recession persists and a jump in unemployment pushed more borrowers behind on home loan payments. Freedom Bank, in Commerce, Georgia,... [full story]