You’ve been hearing about toxic assets a lot lately, but they don’t come from nuclear waste dumps, so what exactly are they? 

Banks are receiving billions of taxpayer dollars to help keep them afloat during the global economic crisis but that’s not stopping them from spending like the old days, especially when it comes to limos.

Stock prices closed sharply higher on Wall Street.

The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession.

The Federal Reserve boosted its lending to commercial banks and investment firms over the past week, indicating that a severe credit crisis was still squeezing the financial system.

Wall Street looks for gains Friday after the Dow fell 445 points to close below 8,000.  The Dow plunged 10.6% in two days. 

It was the first time Treasury Secretary Henry Paulson faced lawmakers in public since he announced he would not be using the bailout money to buy bad debt as he’d promised.

The government says 3,800 banks will have until early December to apply for a share of the $700 billion financial system rescue program.

South Carolina’s largest publicly traded bank has announced receiving tentative approval for nearly $350 million in federal bailout money.

Asian stock markets tumbled Thursday amid more signs of a sharp downturn in the U.S. economy.

Treasury Secretary Henry Paulson said Wednesday that the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.

Treasury Secretary Henry Paulson may answer some of his critics when he gives an update this morning on the $700 billion financial bailout program.

A new tax policy from the Treasury Department will let companies that take over banks hit by the mortgage crisis to write off more of the losses.

Gov. Mark Sanford has asked the U.S. Treasury Secretary to investigate a South Carolina-based bank he believes is “gaming the system” in its request for federal bailout money.

Banks tightened up further on all sorts of lending from home mortgages to credit cards and business loans as the worst financial crisis in seven decades took a bigger toll on the economy.