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Lending Stalls, Banks On Sidelines

Stock prices are at six-year lows. Over the past two days the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet.

Citigroup Weighs Company's Options

The financial crisis is closing in on Citigroup. The banking colossus has more than 200 million customers around the world. But investors are increasingly worried about Citigroup's financial condition. Its share price tumbled more than 25 percent Thursday. CEO Vikram Pandit is weighing his options, and they include selling off parts of the company or selling the whole company. Citigroup lost half its value this week and is trading at levels not seen since the mid 1990s.

Wall Street Too Real? Try Fantasy Investing

Some would-be investors may be too scared to dip their toe into the investment world of stocks and bonds. Now they don't have to worry, and can take the plunge in fantasy investing. It works similarly to fantasy sports leagues. Faux investors are using virtual investing games like "Wall Street Survivor" to learn the real deal.

Dodd Frustrated By Banks' Use Of Bailout Funds

Senate Banking Committee Chairman Christopher Dodd says he's angry that banks are using government-provided funds to pay dividends, for excessive executive compensation and for acquiring other banks. He also says the Treasury has been too slow in addressing the mortgage crisis.

Addressing The Threat Of Deflation

As central banks continue to slash interest rates almost to zero, prices can plummet. It creates a liquidity trap, as it did in the 1930s and in Japan during the 1990s. Harvard economist Kenneth Rogoff outlines what deflation could mean for modern America.

Companies Looking Everywhere To Cut Costs

As companies try to survive the rough economy, they are cutting costs. The person in charge of deciding where and how deeply to cut is often the chief financial officer. <em>CFO Magazine</em> recently interviewed more than 300 CFOs, and nearly half said they plan to lay off workers. Kate O'Sullivan, a writer with the magazine, tells Steve Inskeep that companies are also looking at hiring freezes and reductions in overtime.

Auto Industry Jitters Drive Down Stock Prices

Worry that the U.S. auto industry could collapse has added to recession jitters on Wall Street. The Dow Jones industrial average finished down nearly 430 points Wednesday, falling below the 8,000 mark &mdash; levels not seen since 2003.

Retirees Watching Anxiously; Will GM Be Saved?

Detroit automakers have hundreds of thousands of retirees who are wondering what might happen if their former employers go bankrupt. Auto executives say without $25 billion in loans, they could be forced into bankruptcy.

Dow Dips Below 8,000 To 5-Year Low

The Dow Jones industrial average closes below 8,000 points for the first time since March 2003.

How To Have Festive (Yet Frugal) Holidays

Decking the halls might not be an option this season if paying the mortgage is a higher priority. Guests and callers share creative ideas for holiday giving &mdash; from shopping smarter to making your own crafty gifts.

Census Bureau Needs Temporary Workers

The Census Bureau is recruiting people to help with the next big population count &mdash; the 2010 Census. It's hiring about 140,000 workers to help update address lists. After the census is mailed out in 2010, the bureau plans to hire about a million people to follow up with residents who don't mail back the form.

'Tis Not The Season For Retail Jobs

The poor outlook for the holiday shopping season is forcing retailers to slash seasonal jobs. L.L. Bean is filling 23 percent fewer positions this year. The nationwide squeeze on holiday work comes just as more Americans say they will look for second jobs because of the uncertain economy.

'Outliers' Puts Self-Made Success To The Test

Why do Asian kids outperform American kids in math? How did Bill Gates become a billionaire computer entrepreneur? Malcolm Gladwell takes on these questions and more in his book <em>Outliers.</em> He argues that the "self-made man" is a myth.

When Money Was A Dirty Word

Fifty years ago, unless the family was playing Monopoly, parents didn't talk about finances with their children. Parents didn't even talk about money with each other. Now it's all people talk about. What happened?

What's Likely To Appear Under Christmas Trees

Electronics were supposed to be a bright spot in a dismal holiday shopping season, but Best Buy and Circuit City are in terrible shape. Are any sectors looking good?