Head of market analysis for Schneider Foreign Exchange Stephen Gallo told CNBC yesterday that the financial crisis will lead to the creation of a global central bank and a global single currency within 15 years, echoing the... [full story]

With indications of needs for continuing bailout at AIG, the spotlight has turned from banks to insurance companies as potential sources of crisis. As we can see from the insurance index above ($KIX), that sector has been... [full story]

First there was the subprime mess and the collapsing housing market. Then there was the credit freeze and the imploding banks, the lending curbs, spending cuts, massive layoffs, and plunging consumer and business confidence.... [full story]

Banks in Nevada and Illinois were seized by regulators, bringing this year’s tally to 16, as tumbling home prices and surging unemployment caused more borrowers to fall behind on loan payments. Security Savings Bank... [full story]

Thousands of Opel workers from around Germany took part in a mass rally on Thursday demanding parent General Motors (GM.N) scrap plans for plant closures in Europe. The global financial and economic crisis has sparked many... [full story]

Hayman Advisors LP, the firm that earned $500 million betting on the U.S. subprime mortgage-market collapse, says Europe’s monetary union is about to fall apart. Richard Howard, a managing director for global markets... [full story]

Rapid deterioration in trade-dependent nations—Japan, China, and Germany —suggest that these countries will have to resort to competitive devaluations to boost economic growth. The yen and Yuan have sidestepped... [full story]

Finance Minister Jim Flaherty warned that Statistics Canada would report on Monday a "sharp" and "substantial" drop in fourth-quarter economic activity -- perhaps a contraction of over 4% based on the... [full story]

At least one thing is clear about the financial meltdown: We know who the poster children are. Lehman Brothers and Bear Stearns had their dramatic flameouts, but at this point we’ve survived their demise. Big banks... [full story]

Nobody wants to listen to Ben Bernanke - even though the Federal Reserve Chairman has been a pretty effective soothsayer. Last fall, he famously predicted catastrophe if the government didn’t step in to help stabilize... [full story]