July Unemployment Rate Drops USA TODAY Employers throttled back on layoffs in July, cutting just 247,000 jobs, fewest in a year, and the unemployment rate dipped to 9.4%. It was a better-than-expected showing that offered a strong signal that the recession is finally ending. The new snapshot, released...
America Needs a Single Bank Regulator Financial Times In recent weeks our financial markets have shown signs of recovery thanks to unprecedented action to stabilize markets and stimulate the economy. Yet this crisis has many distressing qualities. Perhaps most dispiriting is the sense that we have seen...
As big banks on government life support — particularly Bank of America and Citigroup — continue to struggle amid rising fears that they are mortally wounded “zombie banks,” a growing chorus of industry leaders are calling for the nationalization of insolvent lending institutions...