Financial Crisis | featured news

Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.

Congress must act to close gaps in the regulatory system that helped cause the financial crisis, a former head of the Securities and Exchange Commission said....

The Treasury Department said Monday that it plans to sell up to 1.5 billion shares of Citigroup stock, its latest move to unwind the support it provided big banks during the financial crisis....

A Senate investigation into the financial crisis has found that Goldman Sachs, the storied Wall Street investment bank, sought to profit from the historic decline in housing prices by betting against the US mortgage market.

Failings by Lehman executives and its auditor led to the collapse of the bank which unleashed the worst of the financial crisis, according to a report by a U.S. bankruptcy court-appointed examiner.

China accused Washington of hypocrisy on Friday for its criticism of Beijing's restrictions on the Internet and dissent, blaming the United States for the financial crisis and saying its own rights record was terrible.

The department persuaded some big banks to pay more than market estimates to repurchase warrants issued to the government during the financial crisis, suggesting taxpayers could benefit from costly financial-rescue programs.

Started at the height of the economic boom and built by some 12,000 laborers, the world's tallest building will open on Monday in Dubai as the glitzy emirate seeks to rekindle optimism after its financial crisis.

The House Oversight committee is investigating the role of the nation's largest mortgage companies in the financial crisis. Under pressure from Republicans, a House committee has subpoenaed documents related to Countrywide Financial Corp.'s VIP program, which offered preferential treatment to well-connected or powerful mortgage customers.

The United States must reduce its budget deficit and Asian nations must encourage more consumption to prevent a recurrence of the global imbalances that contributed to the financial crisis, Federal Reserve Chairman Ben Bernanke said Monday.