Former Lehman Bros CEO blames fed for investment bank's collapse
The now defunct investment bank, Lehman Brothers, collapsed as a result of the recession, though its ex-CEO, Richard Fuld, blamed the Federal Reserve on Wednesday, saying the decision not to provide support when other financial institutions received it was to blame.
FULL STORYThe Senate Judiciary Committee has approved the nomination of Solicitor General Elena Kagan to the Supreme Court, which goes before the full Senate for a vote.
FULL STORYWhile Iraq combat operations are over, the 50,000 remaining US soldiers in Iraq are looking to cement their achievements by sending out small groups of advisers to help improve Iraqi Army performance.
FULL STORYThe nation's unemployment rate rose to 9.6% in August as non-farm payrolls lost 54,000 jobs, but it was good news in that economists at large where forecasting double the unemployment figures for the month.
FULL STORYINSIDE BUSINESS
Low mortgage rates fell still more this week - to the lowest level ever in four decades of tracking. Also, the number of pending home sales posted a rise for the month of July.
The now defunct investment bank, Lehman Brothers, collapsed as a result of the recession, though its ex-CEO, Richard Fuld, blamed the Federal Reserve on Wednesday, saying the decision not to provide support when other financial institutions received it was to blame.
US automakers saw a downturn in vehicle sales in August with General Motors reporting a 7% decline over July sales. Ford Motor Co. (NYSE: F) faired slightly better than GM with a 5% drop. Now auto pundits expect all automakers to report the worst month in decades.
ENTERTAINMENT TODAY
Set mostly in the desert, this tale of double and triple crosses involving an old miser (Ni Dahong) and his tarty young wife (Yan Ni) is replete with boisterously unfunny black slapstick.
'Genius Within: The Inner Life of Glenn Gould' delves deeper into the influential pianist's elusive brilliance than any earlier documentary.
Drew Barrymore and Justin Long's characters entwine in a low-key long-distance relationship, in the romantic comedy 'Going the Distance.'
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