Washington Mutual Corp., hard-hit by the mortgage and credit crises, said Monday it will replace Chief Executive Officer Kerry Killinger as chairman of the board and take other steps to improve corporate governance. ...more

June 3, 2008

Billionaire investor George Soros said the "acute phase" of the financial crisis is "largely behind us" even as the U.S. economy is only now starting to feel the effect. ...more

May 8, 2008

World economic growth will slow significantly in 2008, but the United States, whose housing downturn is rattling global financial markets, will avoid recession, the International Monetary Fund forecast Tuesday. ...more

January 30, 2008

The credit crisis all but wiped out fourth-quarter earnings at Bank of America Corp. and Wachovia Corp., but the banks did make some money - something that can't be said for Citigroup and other Wall Street financial firms. ...more

January 23, 2008

A downgrade of bond insurer Ambac Financial Group Inc. is likely to have far-reaching effects, making it more difficult for cities to issue new bonds and forcing further write-downs at financial services companies, analysts said Friday. ...more

January 19, 2008

Wall Street's five biggest firms are paying a record $39 billion in bonuses for 2007, a year when three of the companies suffered the worst quarterly losses in their history and shareholders lost more than $80 billion. ...more

January 18, 2008

Merrill Lynch & Co. on Thursday recorded its biggest quarterly loss since being founded 94 years ago after the world's largest brokerage took almost $15 billion worth of write-downs from bad subprime mortgage bets. ...more

January 18, 2008

Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under the weight of a slowing economy. The major indexes each lost more than 1 percent, including the Dow Jones industrials, which finished down nearly 250 points. ...more

January 12, 2008

Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. ...more

November 20, 2007

Banks and brokers face as much as $100 billion of write-downs because of level 3 accounting rules, in addition to the losses caused by the subprime credit slump, according to Royal Bank of Scotland Group Plc. ...more

November 8, 2007