Economic Crisis, Financial Crisis | featured news

The government panel, the Financial Crisis Inquiry Commission blames: Banks that made reckless bets, credit rating agencies that endorse risky mortgage-backed securities and government regulators who overlooked warning signs until they threatened the global financial system.

Banks are finally beginning to lend, the big ones that is. Commercial and industrial lending is up this quarter 0.2% from the third quarter, according to Moody's Analytics. That might not sound like much, but it's the first quarterly increase in two years. This is great, right? After all, if banks are lending more to businesses, they can expand and begin to hire. That's true, but this trend reveals something else: the financial crisis has created an environment where big banks are getting bigger, as the small ones struggle.

Started at the height of the economic boom and built by some 12,000 laborers, the world's tallest building will open on Monday in Dubai as the glitzy emirate seeks to rekindle optimism after its financial crisis.

Two years ago, the housing virus passed into the banking system -- and the Fed and ECB rushed to administer medicine. Although the patient may be out of danger, he isn't healthy yet, David Wessel writes.

The former chief, Angelo R. Mozilo, is the highest-profile person to face charges in the wake of the financial crisis.

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.

Finance officials from rich and developing countries pledged to boost the role of the International Monetary Fund and make a "sustained effort" to restore global growth after a key conference that sought to bridge deep divisions on how to tackle the financial crisis.

Developing nations face budget shortfalls of up to $700B in 2009 due to global financial crisis.

The financial crisis and a series of scandals has Irish workers fuming -- and likely to take it out on the government.