Two market crashes and a couple of recessions later, 25 percent of all boomers don’t have anything saved for retirement and now find themselves in dire need of government services and potential bailouts of math defying pension plans.
As Americans struggle to pay off underwater mortgages and student loan debt, some experts say simple changes to bankruptcy law could provide many with financial relief and potentially help the economy.
Even as more Americans are piling on debt, fewer are seeking counseling or other kinds of relief to try and get their finances back in order. USA Today reports.
Alexandra Lebenthal, Lebenthal & Company president/CEO. weighs in on debt-laden Harrisburg, PA and the impact its bankruptcy will have on its municipal bonds, and the overall state of munis.
Details on the chapter nine filing, with Dan Miller, Harrisburg, Pa., controller who discusses the city's liabilities of $500 million and $100 million in assets, as well as whether the state capital will be able to continue to pay its bills.
For today, it comes down to Slovakia. Slovakia may be the lone holdout of the eurozone member nations in connection with the expansion of the European Financial Stability Facility (the EFSF).
A report from the state treasurer says the Golden State's debt burden is up to 7.8 percent, more than double what it was eight years ago. According to the report, each Californian owes $2,542 this year for state debt, more than twice the national median of $1,066. It could be worse.
Amid all the chatter of Kodak possibly going into Chapter 11 bankruptcy protection, one thing is clear in the company's home town, Rochester, N.Y.: No one's surprised.
CNBC's Brian Shactman has the story on speculation mounting that Eastman Kodak may be filing for bankruptcy, while the company pushes back by saying there is no plans for bankruptcy.
Solyndra violated loan terms in 2010 but got more federal money, with CNBC's Eamon Javers.
Central Falls, Rhode Island, the smallest city in the smallest state in the US, is making a big splash in the world of municipal bankruptcies.
Many athletes who lost their earning power couldn’t keep up with their mortgage payments and were faced with foreclosure. Click to see the list of athletes with foreclosed homes.
Who are some of the celebrities who have spent $1 million or more on decadent extravagances? Click to find out!
Over the summer, we witnessed the ugliness and partisan-nature of politics as the debt ceiling debacle took place. The nation's balance sheet needs to be fixed.
Three years after the collapse of Wall Street bank Lehman Brothers, the market has yet to fully recover, according to a US banks analyst.
Mad Money host Jim Cramer explains the anatomy of a cataclysmic bank failure and why some securities are saved and others aren't.
Late last week, lawmakers on a House Judiciary subcommittee held a hearing focused on banning the practice of bankruptcy protection "forum shopping."
Just days after solar company Solyndra declared bankruptcy, FBI agents raided the company's headquarters in Fremont, California, to collect documents, reports CNBC's Maria Bartiromo.
FBI agents executed search warrants on Thursday at the headquarters of California solar panel manufacturer Solyndra, which received more than $500 million in federal loan guarantees before filing for bankruptcy last week.
As fall begins, the economy is a mess. Unemployment is at 9.1 percent. The U.S. economy failed to add jobs in August. Consumer confidence is at record lows. The housing market is in despair. Europe is imploding. And, our political leaders cannot seem to put their differences aside to create some certainty and progress.