economy, financial crisis

How The Financial Crisis Made Big Banks Bigger

Banks are finally beginning to lend, the big ones that is. Commercial and industrial lending is up this quarter 0.2% from the third quarter, according to Moody's Analytics. That might not sound like much, but it's the first quarterly increase in two years. This is great, right? After all, if banks are lending more to businesses, they can expand and begin to hire. That's true, but this trend reveals something else: the financial crisis has created an environment where big banks are getting bigger, as the small ones struggle.

Milwaukee teachers fight for Viagra drug coverage

With the district in a financial crisis and hundreds of its members facing layoffs, the Milwaukee teachers union is taking a peculiar stand: fighting to get its taxpayer-funded Viagra back.

Senh: Hey, at least they got their priorities straight.

Post office plans to announce new rate increase

The post office wants to increase the price of a stamp by 2 cents to 46 cents starting in January. The agency has been battered by massive losses and declining mail volume and faces a financial crisis.

Senh: How about they do the sensible thing and just spend within their means. If every business increase rates at a time when there are so many unemployed people, how is anyone able to afford anything. It's a sign of the times. People email or use social networks to communicate and keep in touch with family and friends instead of snail mail. I really don't think the financial crisis has much to do with this.

Dubai's "superscraper" makes history in hard times

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.

G-20 gridlock leaves financial system at risk

The top industrialized nations are in Pittsburgh to discuss ways to head off another financial collapse. But don't expect any major progress.

U.S. Economy Is Better, Not Cured

Two years ago, the housing virus passed into the banking system -- and the Fed and ECB rushed to administer medicine. Although the patient may be out of danger, he isn't healthy yet, David Wessel writes.

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AIG crisis could be tip of an insurance iceberg

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.

G-20 Pledge "Sustained Effort" On Global Financial Crisis

Finance officials from rich and developing countries pledged to boost the role of the International Monetary Fund and make a "sustained effort" to restore global growth after a key conference that sought to bridge deep divisions on how to tackle the financial crisis.