Henry Paulson

WASHINGTON - Opening a hearing this morning on a potential cash-infused rescue of the U.S. automobile industry, Sen. Chris Dodd, chairman of the Senate banking committee, argued in favor of doing something to help -- though he said an auto bailout...

      WASHINGTON (AP) - Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.       The new figures, released by the...

SACRAMENTO (AP) _ Governor Schwarzenegger and California's legislative leaders emerged from a meeting today saying they're confident the state will be able to repay up to $7 billion in short-term loans. Their projection comes even as the state treasurer...

WASHINGTON -- The House today approved a $700-billion financial rescue plan -- sweetened by $110 billion in tax cuts -- on a 263-171 vote four days after rejecting it in a move that stunned both Wall Street and Washington. "We've made this bill better,"...

Administration officials and congressional leaders violated the most basic rules of politics, marketing and public relations in peddling the controversial $700-billion financial system rescue. Leaders of some of Washington's most powerful political...

The White House is demanding not only swift action on its proposed buy-out of the bad mortgage debt "clogging'' the financial markets, but also a "clean'' bill. "One of the things that... we're primarily concerned about... is the need to get this done...

Are the Big Three worth saving? The U.S. auto industry's downward spiral has accelerated dramatically in recent weeks. In a desperate bid for solvency, General Motors Corp. is seeking a merger with Chrysler. Chrysler has talked with Renault and Nissan...

WASHINGTON - Beyond all the talk of illiquidity, distressed assets and reverse auctions, Treasury Secretary Henry Paulson had a very simple request for members of Congress on Tuesday: Give us what we need. Quickly. And, please, stay out of the way....

WASHINGTON -- Members of Congress -- Republicans as well as Democrats -- balked today at handing the federal government $700 billion to clean up the mess on Wall Street, saying any rescue must not reward financiers who fueled the current economic...

NEW YORK (AP) _ Confirmation that the nation is in a recession and signs pointing to a prolonged downturn sent Wall Street plunging once again Monday, hurtling the Dow Jones industrials down more than 600 points and erasing a huge chunk of last week's big...

WASHINGTON -- The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. The NBER -- a private, nonprofit research organization -- said its group of academic economists who determine business...

WASHINGTON -- Dramatically shifting his approach to the nation's financial crisis, President Bush announced today "unprecedented and aggressive steps" to pour at least $250 billion directly into major banks and expand federal insurance protection to...