The credit crisis

The latest

Market reaction

Nations act, markets soar

Stocks rocketed out of the doldrums on Monday, shaking off eight days of losses as officials in the United States and Europe took steps to bolster their banking systems.

Government intervention

Bank of America

State Street, Bank of America among banks to get $250b

Completing a rush of news remaking the banking industry both locally and worldwide, Spain's Banco Santander said it will take over Sovereign in a $1.9 billion deal.

US confronts possibility of long recession

The U.S. has not endured a deep and prolonged recession in more than a quarter century -- enough time for many Americans to forget what one feels like.

Industry shakeout

Consumer impact