Private banks feel sting as crisis hurts the rich

An abundant flow of rich people’s money into private banks is rapidly evaporating and dashing hopes it can balance out subprime damage in other […]

A bleaker outlook of economy from Bernanke

WASHINGTON — Federal Reserve Chairman Ben Bernanke presented his bleakest assessment yet of the economy on Wednesday, warning a congressional committee that economic growth […]

Mel Weiss to admit to kickback scheme

Prominent attorney Melvyn Weiss has agreed to plead guilty in a lucrative kickback scheme involving payments to plaintiffs in class-action lawsuits against some of […]

Morgan Stanley cutting about 1,000 jobs

Morgan Stanley plans to lay off about 2 percent of its workers this week to help cut expenses as the market for investment banking […]