Whether you turn on the TV or open the papers, doom and gloom is the flavor of the day. Banks are failing, businesses are facing bankruptcy and we' re all saving the pennies in any way we can. However, with fresh financial horror stories springing up...

The Dow Jones industrial average lost 679 points, after hitting its lowest point since May 27, 2003 during the session...more than 7 percent, to their lowest level in 5yrs. after a major credit ratings agency wants to cut ratings on Gen. Motors.

Oh yes indeed - Wachovia is eagerly its awaiting bailout with our billions. In the meantime, its top brokers will enjoy a cruise of the Greek isles. 75 employees, with their spouses or significant others, will cruise on our dime - all expenses paid.

The famous school of economics at the University of Chicago led by the late Milton Friedman spread its market fundamentalism worldwide. Greed, selfishness, individualism and short-termism were conflated with freedom and democracy and elevated to the stat

TOKYO (AFP) - As the economic might of Japan faces up to the global banking crisis a single cat has boosted the finances of a small Japanese city by millions of dollars, according to a study.

A year ago, few people had heard of the term "credit crunch", but the phrase has now entered dictionaries.

The city council of San Francisco has banned tobacco sales in pharmacies. Walgreens says the ban is unfair, but Philip Morris says it's unconstitutional since it abridges the company's First Amendment free speech right to sell.

The Group of Seven rich nations is no longer effective and should be replaced by a steering group that includes emerging economic powers like China, India and Brazil, World Bank President Robert Zoellick said on Monday.

Oil prices fell below $90 a barrel on Monday for the first time since February because of the economic slowdown, even though production in the Gulf of Mexico has not fully recovered from hurricane destruction three weeks ago.

I'm sure this retreat at the St. Regis Resort Monarch Beach is going to do wonders for our moribund economy. Revealed during a hearing on AIG at a House Committee on Oversight and Government Reform Committee, Sen. Henry Waxman and others blasted AIG.