financial crisis

Singapore downgrades its economic growth figure, which confirms it was Asia's first country in recession in the current financial crisis.

I was thinking about the financial mess the other day and I came up with this theory. I'm wary of it because it's comforting, even uplifting, and by definition any economic supposition that has a happy ending is suspect.

So with that caveat here goes:

AP - The Federal Reserve on Wednesday sharply lowered its projections for economic activity this year and next, and signaled that additional interest rate reductions may be needed to help combat the worst financial crisis to jolt the country in more than a half-century.

On the surface, this financial crisis seems pretty complicated. Wall Street firms made convoluted bets on exotic mortgage securities, and those bets failed for a complex set of reasons.

But in fact, investment banks went under for reasons that were quite basic.

It may be years before we can judge the government's success in fighting the financial crisis. But an early assessment of Henry Paulson's Troubled Asset Relief Program is already taking shape.

The US president says he is pleased with progress in leaders' talks on the financial crisis, but warns against "protectionism".

World leaders convened Saturday for a second straight day hoping to tackle a financial crisis that has ricocheted across the globe and left the United States and other countries on the brink of deep recessions.

A financial crisis that began when the U.S. housing bubble popped has engulfed countries large and small around the world.

Instead of gathering leaders from the Group of Eight to talk about the financial crisis, the Group of 20 is converging on Washington, D.C., this week.

The Bush administration is playing down expectations, but economic experts say pressure will be put on the new Obama administration.

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German reinsurance giant Munich Re sees its quarterly profits almost wiped out by the financial crisis and hurricane claims.