Search results for

Bear Stearns traders and dealers have seen the value of their stock share plummet and their futures put in jeopardy. Marketplace's Janet Babin explains that Bear Stearns employees may try to find new jobs, but with a recession looming, it's not going to be easy to find work.

Sen. Barack Obama, speaking in Philadelphia, called comments by his longtime pastor, the Rev. Jeremiah Wright, "incendiary" and "divisive." But Obama said he would not disown the man who brought him to Christianity. Wright recently retired from the pulpit after 20 years.

When the dust settled from the dramatic downfall of Bear Stearns, one of Wall Street's most storied investment banks, rival JP Morgan Chase wound up taking control of it. The stunning collapse marks a significant loss for some investors, like Bear Stearns employees, who owned 30 percent of the bank.

The Federal Reserve meets Tuesday to decide whether to lower a key interest rate. Over the weekend, the central bank approved a cut in its emergency lending rate to financial institutions and became a lender of last resort for investment houses to begin securing short-term emergency loans.

Jurors hear opening statements in the trial of indicted political fundraiser Antoin "Tony" Rezko, who is accused of a slew of corruption charges. He's received national attention because of his relationship with Senator Barack Obama.

A presidential advisory panel is poised to issue guidelines that use "Singapore Math" methods to help students improve test scores. California was the first state to approve the technique.

A day after New York Gov. Elliot Spitzer's resignation, the state's new governor takes the stage. David Paterson will have to pick up the pieces after the Spitzer scandal.

New York gets a new governor Monday. David Paterson, the state's first black governor and legally blind, will try to get New York back on track after Eliot Spitzer left office amid a prostitution scandal.

U.S. stock and bond markets wrap up a three-day weekend — a much-needed break after a tumultuous week, which began with the fire sale of Bear Stearns. The Dow Jones Industrial Average ended the week up nearly 3.5 percent. But it wasn't easy.

State Department employees have snooped inside the passport files of all three presidential contenders. The State Department has apologized and is investigating. Two employees have been fired. The Justice Department is weighing whether a criminal investigation is warranted.