Wall Street's worst fears came to pass Monday when the government's financial bailout plan failed in Congress and stocks plunged precipitously - hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis. ...more

September 30, 2008

The House braced for a difficult vote today on a $700 billion rescue of the financial industry after a weekend of tense negotiations produced a plan that congressional leaders portrayed as greatly strengthened by new taxpayer safeguards. ...more

September 29, 2008

Home prices in July fell 5.3 percent compared with a year ago, a government agency said Tuesday, and have now receded to October 2005 levels. ...more

September 24, 2008

One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Sen. John McCain's campaign manager, according to two people with direct knowledge of the arrangement. ...more

September 24, 2008

Congratulations, Raymond James, you're now the nation's largest investment bank. How? Because every other investment bank bigger than Raymond James Financial Inc. bit the dust last week or agreed to shotgun weddings with larger "commercial" banks that are perceived as more stable - stable by Wall Street standards. ...more

September 23, 2008

The investment bank Goldman Sachs, the firm that has looked the best throughout the credit crisis, reported a profit Tuesday of $845 million, or $1.81 a share, in the third quarter, down 70 percent from a year ago. ...more

September 17, 2008

If you've ever wondered about the location of the proverbial "square one," it's right where Temple Terrace's new downtown is supposed to be. ...more

September 16, 2008

Merrill Lynch's shotgun sale to Bank of America will create the nation's largest financial services company - one that some say is too big to fail. Still, no one is breathing easy just yet. ...more

September 16, 2008

Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 protection in the biggest bankruptcy court filing ever on Monday and said it was trying to sell off key business units. ...more

September 16, 2008

NEW YORK (AP) -- A stunning makeover of the Wall Street landscape sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks. Investors reacted badly to a shakeup of the financial industry that took out two storied names: Lehman Brothers Holdings Inc. and Merrill Lynch & Co. ...more

September 15, 2008