President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others before they could be approved. He raised the possibility Monday of controlled bankruptcy for one or both of the beleaguered auto giants.
In a country long divided by race, Barack Obama argues that Americans generally have been colorblind in judging him. Yet old racial stereotypes and Internet-fueled falsehoods flourish about the first black president.
Commercial banks lost $9.2 billion trading derivatives during the fourth quarter as the credit crisis intensified, according to a report released Friday by the Office of the Comptroller of the Currency.