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washingtonpost.com - Business
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Washington,DC,Virginia,Maryland business headlines,stock portfolio,markets,economy,mutual funds,personal finance,Dow Jones,S&P 500,NASDAQ quotes,company research tools. Federal Reserve,Bernanke,Securities and Exchange Commission.
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FDIC Seizes Three Banks, Expanding Its Mortgage Modification Program
Federal regulators seized three banks last night, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the pace of failures is increasing.
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Obama Picks N.Y. Fed President Geithner as Treasury Secretary
President-elect Barack Obama has selected New York Federal Reserve Bank President Timothy F. Geithner as Treasury secretary, handing the post to a primary architect of the Bush administration's response to the financial crisis, according to Democratic and industry officials yesterday.
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For Treasury Post, Geithner Is Leader Schooled in Crisis
On the evening of Friday, Sept. 12, Timothy F. Geithner gathered 20 Wall Street executives in a conference room at the Federal Reserve Bank of New York.
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Battered Citigroup Strives To Strengthen Confidence
A defiant Citigroup proclaimed itself in good health yesterday even as its stock price completed a one-week, 60 percent swan dive, highlighting renewed investor concern about the long-term prospects of the nation's largest banks.
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Shoppers Search Harder for Value at the Supermarket
There was a time, not so long ago, when camembert bordered on blase and olive bars were all the rage as grocery stores sought to transform the weekly shopping trip into a gastronomic wonderland.
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Falling Prices Raise a New Fear: Deflation
With the stock market crumbling and the economy shrinking, a whiff of deflation is in the air.
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Unconvinced Congress Tables Auto Decision
With two of Detroit's Big Three automakers teetering on the brink of collapse, congressional leaders yesterday refused to advance a proposal for a federal bailout, saying auto industry executives had failed to persuade lawmakers that they would make good use of the money.
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Financial System Suffers Relapse
The financial system, which had recently shown glimmers of improvement, is unraveling again.
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Cash-Strapped and ‘Sensitive,' GM to Give Up 2 Jets
Struggling General Motors, which was blasted and mocked for using one of its corporate jets to fly chief executive G. Richard Wagoner Jr. to Washington this week to beg Congress for a bailout, is preparing to give back two of its leased corporate jets, the company said yesterday.
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The Secret of Success
According to Malcolm Gladwell's "Outliers," it all depends on the right set of circumstances.
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