The former heads of Royal Bank of Scotland Group PLC and HBOS PLC apologized to shareholders and the public on Tuesday for the near collapse and subsequent government bailout of the two banks — events that encompassed... [full story]

   You have to watch this video..  it is enlightening.        At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal... [full story]

This article is totally correct in saying nothing whatsoever has been done about the basic problem which is the failure of the OTC derivative. As long as the basic problem is not addressed by true valuation and bankruptcy... [full story]

Canadian consumers are going bust at an alarming rate as the sputtering domestic economy continues to show signs of further trouble ahead. Bankruptcy filings soared nearly 46.7 per cent in December, the Office of the Superintendent... [full story]

From managers to front-line workers, a quarter of Canadians fret they'll lose their jobs as the recession deepens, a survey showed Monday. About 24 per cent of Canadian employees have the job jitters, with workers in the... [full story]

Thanks to reader Linda for sending this chart; as they say, a picture is a worth 1000 words. What we show below is the number of job losses versus the peak employment level.... i.e. how many are lost versus the highwater... [full story]

Sir Josiah Stamp, former chief of the Bank of England in 1927, warned: If you want to continue to be the slaves of bankers, and pay the cost of your own slavery, then let bankers continue to create money and control... [full story]

The future of the European currency is challenged. The euro, which appeared as a result of the political decision, has only several years left to live. Many European officials believe that the continent needs to return to... [full story]

France will lend 6.5 billion euros (8.5 billion dollars) to three major motor manufacturers in exchange for a pledge to keep French auto plants open, President Nicolas Sarkozy said on Monday.     Renault and Peugeot... [full story]

“The cult of the equity” that arose in the past half-century has come under attack and may be headed for the dustbin, according to Robert Buckland, Citigroup Inc.’s global strategist. The CHART OF THE DAY... [full story]