The US government is pumping liquidity into its banks in return of a stake. Treasury Secretary Paulson announced plans of using $250 billion taxpayer’s money to make investments in nine banks, for a start.

Iceland’s government has taken control of 3 commercial banks in the past few days to ensure continued operations.

The global financial meltdown has forced six central banks to coordinate their efforts to ease the detrimental economic effects of the worst ever global financial collapse by lowering interest rates.

Regulators halt stock trading in emerging-market exchanges. Is this for real? Further turmoil, instability and more less of everything (cash, investments, credit) is the emerging markets world’s response to greedy Wall Street today.

In a dramatic blow for Bush administration and his team of economists, the Congress finally rejected the $700 bailout package plan.

The agency has already been investigating the recent financial collapses of Lehman Brothers and AIG, based on allegations for mortgage fraud.

The Fed announced today a cash injection of $95 billion in exchange for a 2-year bridge loan and a 79.9% equity stake.

The credit crisis on one hand, the bankruptcy of some of the largest US financial institutions and investment banks, and finally the inflationary storm that rockets energy and food prices.

Lehman Brothers Holdings Inc has been forced to file for bankruptcy after spending a weekend trying to persuade either Barclays Plc or Bank of America, that the biggest underwriter of mortgage-backed securities still has some worth.

Fannie and Freddie – it sounds like the title of happy Disney family movie, but yet to many these two names are the equivalent of a horror film they do not necessarily want to watch.

Lufthansa employees won the battle with inflation, for the time being, as they managed to get a 5.1% raise in their wages, after a week’s strike and hard negotiations with the German airline’s management team.