Patrice Hill

Feds to slash bankers’ pay, spurs debate

The government moved in a sweeping and unprecedented way Thursday to curb the pay of executives at banks and Wall Street firms that contributed to last year's global economic crisis.

October 23, 2009

Fed proposes bank-pay guidelines

The Federal Reserve on Thursday moved to limit risky pay practices at all the nation's banks even as the Treasury's executive paymaster announced drastic cuts in pay for the biggest government bailout recipients.

October 22, 2009

Pay czar to slash bailout banks’ salaries

Heeding the public backlash against corporate bailouts, the Treasury's executive paymaster Kenneth Feinberg is preparing to slash by half the pay of top executives at the seven biggest beneficiaries of government aid.

October 22, 2009

Easy-money mortgages still provided, by the feds

So you thought easy-money mortgages with little or no down payment for people with bad credit was a thing of the past? Think again.

October 19, 2009

Dow rages over 10,000; economy struggles

The Dow Jones Industrial Average on Wednesday surged through 10,000, passing another milestone in its stunning recovery from collapse early this year.

October 15, 2009

Dow closes over 10,000 for first time in a year

UPDATED: The Dow Jones Industrial Average on Wednesday closed above 10,000, passing another milestone in its stunning recovery from collapse early this year.

October 14, 2009

Dollar down, emerging stock markets surge

Stock markets in major emerging countries such as China and Brazil have been on fire this year, attracting a wave of investment from the United States and rest of the world as well as driving down the value of the U.S. dollar.

October 9, 2009

Falling fuel prices ease hit on wallet

Recession-struck consumers have at least one thing going for them -- a substantial drop in energy prices that is projected to continue through winter.

October 7, 2009

September a downer for jobs

The much-hoped-for economic recovery was a no-show in last month's job market. More than a quarter-million layoffs sent the unemployment rate close to 10 percent.

October 3, 2009

Job losses drive unemployment near 10%

The Labor Department reported Friday the U.S. unemployment rate reached a 26-year high of 9.8 percent in September as the economy shed another 263,000 jobs, a sign the economy remains depressed despite hopes for a recovery.

October 2, 2009

Dollar’s days of dominance may end

World Bank President Robert B. Zoellick warned Monday that, with foreign economic powers rising quickly on the world stage, time is running out for the privileged role enjoyed by the American currency.

September 29, 2009

G-20 to maintain stimulus plans

The leaders of the Group of 20 economic powers agreed Friday to keep the massive stimulus programs each country put in place to revive the global economy until lost jobs as well as growth start to reappear.

September 26, 2009

Group of 20 to replace Group of Seven

The leaders of the Group of 20 economic powers on Friday afternoon will announce that the G-20 will become the world's main economic steering committee, replacing the Group of Seven industrial nations.

September 25, 2009

G-20 cool to Obama plan

Leaders of China, Germany and Brazil were cool to President Obama's proposal to seek more balanced world growth as leaders from around the world gathered here for this year's third meeting of the Group of 20 economic powers.

September 25, 2009

U.S. offers China more power in world group

The Obama administration is pursuing a grand bargain with China that would address the lopsided economic relationship that contributed to the financial crisis and prevent it from destabilizing the world economy in the future.

September 24, 2009

Fed keeps rates low in ‘weak’ recovery

The Federal Reserve on Wednesday said the economy has significantly improved and likely is growing again, led by gains in the long-stalled housing market.

September 24, 2009

Fed says recovery has begun

The Federal Reserve on Wednesday said the economy has improved significantly and likely is growing again, led by gains in the long-stalled housing market.

September 23, 2009

Investors gird for post-recession inflation

Brushing aside statistics that show an annual inflation rate of less than zero, investors already are selling off dollars and driving up the price of gold in anticipation of a surge in prices as soon as the economy recovers from its deep recession.

September 22, 2009

Bernanke sees end of recession

Federal Reserve Chairman Ben S. Bernanke came close to declaring the recession over Tuesday, but warned that economic growth will remain too sluggish to quickly restore the nearly 7 million jobs lost since 2007.

September 16, 2009

One year later, banking crisis alters lives

Craig Coffey, a former machinist living in Las Vegas, was approaching retirement until the economic crisis last fall "blew up" 40 percent of his expected pension income. Rather than retire, Mr. Coffey had to stay employed and is now working as a salesman making $8 an hour plus commission.

September 14, 2009