Archive for June 12th, 2008

Given the ballooning questions about Lehman Brothers' health, the departure of finance chief and Erin Callan, frequently the public face of the firm in recent months, comes as no great surprise.

For families with children heading off to college, this has been the year from hell. First, a record number of applicants made 2008 the most competitive year ever for college admissions. Then the credit crunch hit the college market in a big way, igniting fears of a drought in financing for all students this fall.

There aren't many reasons to own financial stocks these days.

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Wall Street remained higher Thursday on a $46 billion bid for Anheuser-Busch and stronger-than-expected May retail sales. But stocks gave up bigger gains after crude erased big early losses.

Barack Obama has a slight edge over presidential rival John McCain on the economy, according to a poll of registered voters released Thursday.

Stocks rallied Thursday afternoon as investors welcomed falling oil prices, strength in the financial sector, a $46 billion bid for Anheuser-Busch and higher-than-expected May retail sales.

Given the ballooning questions about Lehman Brothers' health, the departure of finance chief and Erin Callan, frequently the public face of the firm in recent months, comes as no great surprise.

Read full story for latest details.

As the Iraq war continues with no clear end in sight, the cost to taxpayers may balloon to $2.7 trillion by the time the conflict comes to an end, according to Congressional testimony.