LEHMAN BROTHERS - RICHARD FULD: Under Mr. Fuld’s leadership at Lehman, the company underwrote more mortgage-backed securities in 2006-07 than any other firm. The housing market crash showed Lehman's exposure to these high-risk financial instruments and the firm began to lose money. Fuld refused offers to sell, and the Treasury Department did not engineer a rescue, as it did for another investment bank. Lehman's bankruptcy in late 2008 also ended Fuld's job. Code Pink protesters hold up signs as Fuld testifies at a House Oversight and Government Reform Committee hearing in October 2008.
Consumer credit plunged by $9.15 billion, suggesting that Americans are still wary of taking on new debt.
Stocks on the Dow average drop for the seventh day in a row as professional and individual investors pull back from risk.
Some critics cite government 'takeover' of business and 'giveaways' to the poor as signs that President Obama is a socialist. Members of the Socialist Party are among those who disagree.
Members of Congress began work Tuesday to resolve differences in the House and Senate versions of financial reform legislation.
May's dismal consumer spending numbers could be an early sign that the government's stimulus funding has been unsuccessful in boosting the economy.
Financial reform debate centers around a key question: Will reform mean that the economy is better protected? Here is a look at pros and cons in the debate.
Wall Street investor sentiment over European debt problems and an unexpected spike in unemployment claims drove the market downward.
The Labor Department said Thursday that initial claims for unemployment benefits dropped last week by 4,000, the fourth weekly decline in a row.