Nikkei sinks 11.4 pct -- worst loss since '87 crash...
Seoul shares drop 9.4 pct -- biggest loss in 7 yrs...
Biggest % Drop Since 1987...
Feds investigate WASHINGTON MUTUAL failure...
Oil falls to 13-month low...
U.S. Could Guarantee $2 Trillion For Banks
By The Associated Press
That's the equivalent of about 20 percent of the national debt, which recently blew past $10 trillion, and roughly 14 percent of U.S. gross domestic product — the economy's total output of goods and services. Continue
The 56 Trillion Dollar Deficit
Bill Maher Interviews Fmr. Comptroller General David Walker
6 Minute Video
Comptroller General David Walker, explains that we have a debt of $480,000 per US household? Continue
Time to listen to us, say S.Africa, Brazil and India: The leaders of South Africa, Brazil and India said on Wednesday the global credit crisis showed the need for south-south solidarity and reform of institutions like the United Nations to reflect their growing economic clout.
UK: Unemployment to hit three million 'within a year' as it rises at fastest rate for 17 years: The rate is already at its highest level for almost a decade after soaring more than 10 per cent in the past three months to 1.79million.
Pepsi to cut 3,300 jobs: PepsiCo announced plans Tuesday to cut 3,300 jobs as it reported a 10 percent decline in third-quarter net income.
Fed Opens Cash Spigot to Overseas Credit Markets: The U.S. central bank said Monday it would provide unlimited dollars to the European Central Bank, Bank of England and Swiss National Bank, allowing them to relieve pressure on commercial banks across their regions.
FY '08 budget deficit swells to record $455 billion: "We're on track for another record deficit in 2009 even without another stimulus package. And I don't think anyone would bet against another stimulus package right now," Crandall said.
Chicago mayor to shut down government for six days: Facing a huge hole in Chicago's current and upcoming budgets, Mayor Richard Daley announced on Tuesday a plan to partially shut down city government for six days.
Another Great Depression?: What's the difference between a financial crisis and a Depression? At least initially, the symptoms appear similar
Grim outlook on U.S. profits and jobs: The euphoria that swept Wall Street on Monday gave way to a sober reality on Tuesday: a recession, perhaps the deepest one in decades, may be unavoidable.
Stocks fall as retail sales show steep drop: Volatility battered Wall Street again Wednesday after a disappointing retail sales report reminded investors that country is either in a recession or moving toward one.