The huge amount of money tied up in complex derivative transactions helped cripple the economy, Treasury Secretary Timothy Geithner told lawmakers Friday as he laid out a case for greater government control over a generally unregulated sector of the financial markets.
Authorities say four former cemetery employees accused of digging up bodies and reselling plots at a historic black cemetery near Chicago made about $300,000 in a scheme believed to have stretched back at least four years.
Africa takes the global media spotlight again when President Barack Obama makes an overnight stop in Ghana this weekend on his way home from a trip that took him first to Russia, then to Italy for the annual summit of the Group of Eight industrial powers.
The world's industrialized countries are looking to provide "significant financial resources" to the developing world to help them combat global warming and will ask a September meeting of the world's 20 major economies to take up the issue, U.S. President Barack Obama said Thursday.
Disgraced financier Bernard Madoff will not appeal his 150-year sentence for a fraud that unraveled overnight last December when Madoff confessed to his sons that nearly $65 billion he promised investors was safe was actually only worth a few hundred million dollars.