Search results for

First Bear Stearns, then Lehman Brothers; the woolly mammoths of the banking industry have been tumbling one by one. Goldman Sachs and Morgan Stanley are still standing, but for how long?

Gen. David Petraeus has handed over control of U.S. forces in Iraq to his longtime deputy, and headed back home where he will take charge of U.S. Central Command, with responsibility for the wars in both Iraq and Afghanistan.

Bolivian President Evo Morales sent the U.S. ambassador, Philip Goldberg, packing this month, accusing him of fomenting unrest. Goldberg calls this a sad moment in U.S.-Bolivian relations and says he believes Morales used his ouster to distract from serious political problems he has at home.

As questions swirl over Kim Jong Il's health, there is no sign he has relinquished control over the secluded North Korea. Experts say that whoever succeeds Kim may feel compelled to demonstrate control through military means.

President Bush and Treasury Secretary Henry Paulson are asking Congress to move swiftly on a proposal to buy up bad mortgage debt from Wall Street firms. The cost of the program could run into the hundreds of billions of dollars.

The federal government announced this week it would bail out insurance giant AIG. So where does the government get a spare $85 billion? Slate.com's Samantha Henig has the answer.

Some Republicans are miffed about all the financial decisions being made without consulting them. Democrat Barney Frank says the Fed shouldn't have $800 billion to spread around without consulting anyone. Republicans say Democrats share blame for the crisis.

Goldman Sachs and Morgan Stanley, the last two big independent investment banks, announced Sunday night they are scrapping the old business model and becoming commercial bank-holding companies. The news came as a shock for those who work on Wall Street.

Stock markets in Asia took a big hit Tuesday after Wall Street's 504-point drop on Monday. Most Asian markets were closed Monday for a holiday, so Tuesday was the first time investors reacted to the news of Lehman Brothers' bankruptcy and Merrill Lynch being bought by Bank of America.

Hurricane Ike delivered a tremendous beating to the Gulf area, but now Texas faces the biggest recovery effort in state history. The Rev. Rudy Rasmus and Univision correspondent Fernando Pizarro discuss how everyday people of Houston are dealing with the devastation of the storm.