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washingtonpost.com - Business
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Financial System Suffers Relapse
The financial system, which had recently shown glimmers of improvement, is unraveling again.
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Unconvinced Congress Tables Auto Decision
With two of Detroit's Big Three automakers teetering on the brink of collapse, congressional leaders yesterday refused to advance a proposal for a federal bailout, saying auto industry executives had failed to persuade lawmakers that they would make good use of the money.
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Falling Prices Raise a New Fear: Deflation
With the stock market crumbling and the economy shrinking, a whiff of deflation is in the air.
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Argentina to Nationalize Pension Funds
RIO DE JANEIRO, Nov. 20 -- Argentina's Senate on Thursday night gave final approval to the government's plan to nationalize the private pension system in an attempt to protect retirement investments from the international financial crisis.br clear="all"a href="http://ad.doubleclick.net/jump/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144710793" target="_blank"img src="http://ad.doubleclick.net/ad/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144710793" border="0" vspace="5"/a
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Crisis Hits Values of Commercial Mortgages
NEW YORK, Nov. 20 -- Another levee in the financial markets is crumbling.
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Auto Failure Could Fuel Credit Crisis
With lawmakers weighing the possibility of allowing one of the nation's automakers to fail, some on Wall Street and in Detroit are arguing that the consequences of failure could reach far beyond the industry and into the broader economy.
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Companies Seek Relief From Pension Rules
The crippled stock market and stagnant economy have driven many companies to seek relief from a rule requiring that they keep their pensions fully funded. Four senators sought to come to the companies' aid this week, but their measure has come up short, for now.
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In Beijing, Applicants Try for a Piece of the Stimulus Package
BEIJING -- They have been coming here from all over China, businessmen and local officials looking for a slice of the Chinese stimulus.br clear="all"a href="http://ad.doubleclick.net/jump/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144711435" target="_blank"img src="http://ad.doubleclick.net/ad/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144711435" border="0" vspace="5"/a
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It's Not Hank's Mess, but He's Doing Well on Cleanup
Poor Hank Paulson doesn't deserve the drubbing he's been getting.
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Verizon Staff Viewed Obama's Account
Verizon Wireless said last night that a number of its employees have "accessed and viewed" President-elect Barack Obama's personal cellphone account without authorization.
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Stocks Plunge; Investors Flee to Treasurys
Stocks plummeted again yesterday, hitting a five-year low, and crude oil prices skidded to their lowest level in more than three years.
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Fannie Mae, Freddie Mac to Suspend Foreclosures Over Holiday Season
Fannie Mae and Freddie Mac announced yesterday that they are temporarily suspending foreclosures and evictions during the holiday season in an effort to keep people from losing their homes.br clear="all"a href="http://ad.doubleclick.net/jump/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144711735" target="_blank"img src="http://ad.doubleclick.net/ad/wpni.rss/business;pos=ad9;tile=9;ad=rss;sz=479x40;ord=472144711735" border="0" vspace="5"/a
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Japanese Artist Chronicles Young, Ambitionless Office Workers in Comic Books
TOKYO -- The American poet Theodore Roethke called it "the inexorable sadness of pencils." It's the desolation of time lost and dreams forsaken while sitting in an office.
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Color of Money Book Club
Personal finance columnist Michelle Singletary will host a discussion with Laurence Shatkin, author of "150 Recession-Proof Jobs."
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As Support for Auto Aid Stalls, Efforts Shift to GOP Loan Plan
Congressional allies of the auto industry were rushing late yesterday to put together a bipartisan aid package for faltering Detroit car companies, but lawmakers said they may leave town today without taking action.
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