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Bank of America profits plunge 68%(CNN)
Bank of America proved it was not invulnerable to the credit crunch as it reported a steep decline in earnings on Monday, and announced plans to bulk up on capital by slashing its dividend in half and raising $10 billion through a stock sale.
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How to build a better bailout(CNN)
Not that the folks at the Treasury and the White House are asking, but if I were in charge of the $700 billion bailout of the financial system - and yes, it's a bailout, because it involves paying more for toxic assets than non-government buyers would pay - I'd have the Treasury run out today and borrow $700 billion before the financial world comes to its senses.
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Credit squeeze: SBA loans drop 30%(CNN)
A growing number of businesses are struggling to land loans through the Small Business Administration's flagship lending program. The number of 7(a) loans given in the 2008 fiscal year, which ended Sept. 30, dropped 30% from 2007, the SBA reported last week.
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How to buy a car - even now(CNN)
Auto dealers are hungry for customers: Worried consumers are putting off buying big-ticket items, and buyers on the market are finding it harder to get a loan. So if your credit is solid, now is a great time to say, Let's make a deal.
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Bank of America to slash mortgage payments(CNN)
A plan announced today by Bank of America will be the most aggressive foreclosure prevention effort ever undertaken by a U.S. bank.
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Europe: The new Wall Street?(CNN)
Leverage, the menace that helped bring down some of the biggest names on Wall Street, is now threatening the health of big banks across the Atlantic.
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G-7 unsuited to global crisis - World Bank(CNN)
Read full story for latest details.
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Star hedge fund crashes to earth(CNN)
September was the worst month on record for hedge fund performance, but for one legendary player what's going on in the markets now must seem like its coming straight from the gates of hell.
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EBay to lend buyers a hand(CNN)
EBay took a big plunge into the consumer credit market Monday with the acquisition of Bill Me Later, the No. 2 online payment service.
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Paulson taps bailout chief(CNN)
The Treasury Department on Monday sought to answer the first of many questions surrounding how it will implement the $700 billion financial rescue plan.
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Is your 401(k) safe?(CNN)
If you think your 401(k) is about to disappear, there are a few things you need to keep in mind before you give up hope.
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Citi, Wells and Wachovia agree to legal 'standstill'(CNN)
Citigroup, Wells Fargo and Wachovia agreed Monday to halt all litigation for two days in the bitter war over the ailing Wachovia.
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Poll: 60% say depression 'likely'(CNN)
Nearly six out of ten Americans believe another economic depression is likely, according to a poll released Monday.
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FDIC: Insurance increase boosts confidence(CNN)
Read full story for latest details.
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BNP Paribas reassures Fortis customers(CNN)
Read full story for latest details.
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Market meltdown: Global problem, global cure(CNN)
Global stock markets are in free fall Monday as European banks are starting to look like they may need their own bailout.
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Oil tumbles to 8-month low below $88(CNN)
Oil prices tumbled below $88 a barrel Monday, an 8-month low, as banking turmoil in Europe exacerbated fears that a global economic slowdown will crimp demand for oil and gas.
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