Economic Crisis | featured news

Federal Reserve chairman Ben Bernanke warns Congress that the US recession may last beyond the end of the year.

Major U.S. stock market indexes tumbled more than 3% today to their lowest levels in more than a decade as confidence in the financial system and the overall economy continued to deteriorate.

U.S. President Barack Obama sought on Monday to bolster political support for the $787 billion economic package, telling the nation's governors that the money would go out quickly and be spent wisely.

An array of Republican governors said they would reject at least some of the funding available under the Obama administration's economic-stimulus package.

The president, meeting with U.S. mayors at the White House, vows to use his full power to expose any misuse of the $787 billion in economic stimulus dollars.

Falling 89 points isn't a dramatic one-day drop, but last time index closed lower was March '03.

An Ohio man who told a sheriff's dispatcher he had money problems strangled his wife and 11-year-old son, then shot and killed himself, authorities said Wednesday.

The financial crisis is forcing probation and parole agencies to reduce or drop prison time for thousands of offenders who violate ...

U.S. President Barack Obama signed a $787 billion economic stimulus bill into law on Tuesday as global markets plunged on fears that the recession would deepen despite government action in many countries.

Postmaster General John E. Potter recently warned that economic times are so dire that the U.S. Postal Service may end mail delivery one day a week and freeze executive salaries. He failed to mention that his own total compensation and retirement benefits to more than $800,000 in 2008. That is more than double the salary for President Obama.