By Eric Toussaint
We need to learn the lessons of the 20th century in order to apply them at the beginning of this century. During the decade of the 1930s, that followed the crisis that exploded on Wall Street in 1929, 12 countries in Latin America suspended for a prolonged time the repayment of their foreign debt, prinicipally to North American and Western European bankers. Continue
Wachovia reports $23.9 billion loss: Wachovia Corp reported a third-quarter loss of $23.9 billion on Wednesday, a record quarterly deficit for a banking company in the global credit crisis, underscoring the challenges Wells Fargo & Co faces when it acquires the big lender.
Yahoo firing 1,500 workers; 3Q profit falls 64 pct (AP): Yahoo Inc. will fire at least 1,500 workers to cope with a crumbling economy that dented its third-quarter profit and turned up the heat on the slumping Internet company's management as investors stew over a missed opportunity to sell to Microsoft Corp. for $47.5 billion.
Monthly job losses up across 41 states: More than 80% of states reported jobs disappearing in September, with Michigan suffering the highest losses, according to a government report.
"Under water" mortgages are growing threat to U.S.: - Long before she filed for bankruptcy, Ann Neukomm was "under water" -- she owed more on her mortgage than her house was worth -- a situation more and more Americans are finding themselves in.
Fewer prescriptions filled as economy worsens: The tumbling economy may be making Americans queasy, but they're apparently so worried about their pocketbooks that they're skipping their meds.
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