The US Government with the mortgage industry are launching the most sweeping effort yet, to speed up loan reset modifications held by Fannie Mae and Freddie Mac. This aid program holds the hope of stemming the mortgage crisis from deepening.

The federal government's plan to streamline mortgage modifications of troubled loans held by Fannie Mae and Freddie Mac, will not assist the majority in crisis!

Treasury Secretary Paulson said Wednesday, that the $700 billion dollar government 'rescue plan' bailout, would not be used to buy the troubled Housing Market assets as originally planned. The debacle continues to burn!

The tally of failed banks in 2008 has risen to 19, as the government announced that a Texas and a California bank had been shuttered closed Friday night.

Investors react positively in 'cheers' to Beijing's announcement of a $586 billion dollar stimulus package deal. It is hoped that this will help to stave off a deep localized and global recession.

Billionaire T. Boone Pickens says he doesn't know 'where the bottom is' regarding the U.S. economic crisis, but believes weaning America off of foreign oil is crucial to creating jobs and improving national security!

America is about to be hit by several more severe economic downturns, home-value decline, hyper-inflationary hurricane, and the collapse of the U.S. dollar on world markets. This will further endanger the global economy in turn, that could spread outward.

Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out

General Motors Corp and Cerberus Capital Management have asked the U.S. government for roughly $10 billion in an unprecedented rescue package to support a merger between GM and Chrysler LLC, two sources with direct knowledge of the talks said

Wall Street simply no longer has the wherewithal to apportion ample finance for securities speculation. Without speculative demand for high-yielding loans and securities, bubble economies are starved of sufficient finance. And with asset markets bursting