Lender GMAC Financial Services said Wednesday that it will close all of its 200 retail offices and lay off about 5,000 employees as part of a plan to reduce its mortgage lending and servicing operations because of the housing market downturn. ...more

September 4, 2008

"Ben Bernanke's Fed: The Federal Reserve After Greenspan" by Ethan S. Harris, Harvard Business Press, 237 pages ($26.95) ...more

August 31, 2008

With gas prices still near record highs, the economy in a slump and continued trouble in the credit markets, just about everybody expects August vehicle sales to be down significantly from a year ago. ...more

August 30, 2008

U.S. banking industry profits plunged by 86 percent in the second quarter and the number of troubled banks jumped to the highest level in about five years as slumps in the housing and credit markets continued. ...more

August 27, 2008

JPMorgan Chase & Co. and Morgan Stanley on Thursday became the latest banks to reach settlements with New York Attorney General Andrew Cuomo and other regulators as part of an investigation into the collapse of the auction-rate securities market. ...more

August 15, 2008

After running Chrysler for a year, Cerberus Capital Management must be wondering if its mascot, the three-headed dog that guards the gates of hell, is protecting it from the underworld or leading it into the flames. ...more

August 6, 2008

New federal help for the big mortgage lenders and first-time homebuyers could help revive Tampa's housing market. The quicker markets stabilize, the less taxpayers will have to pay in the complex bill with an unknown price tag. ...more

August 5, 2008

Private equity powerhouse Kohlberg Kravis Roberts & Co. said Monday a plan to go public through a takeover of its Amsterdam-listed investment fund gives it access to new markets to make acquisitions and provides European shareholders better value. ...more

July 29, 2008

The House on Wednesday easily approved legislation that seeks to slow the steepest slide in house prices in a generation, rescue hundreds of thousands of homeowners at risk of foreclosure and reassure global markets that mortgage-finance giants Fannie Mae and Freddie Mac will not be allowed to fail. ...more

July 24, 2008

Citigroup has become the latest big bank to assuage Wall Street's worries about the financial sector, posting a $2.5 billion second-quarter loss that was smaller than the market expected. ...more

July 19, 2008