Buried in credit card debt? Experts across the board suggest adopting a cash only lifestyle.  It’s not easy, but it’s one of the only ways to dig out.

So starting in February, the only way for anyone under 21 to get a credit card will be to prove they have adequate income, complete a certified financial literacy course or have an adult, such as a parent co-sign.

The Rev. Jesse Jackson has begun meeting with the hundreds of workers occupying a Chicago factory that they say gave them just three days’ notice before closing.
   

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.

He announced Wednesday the appointment of an advisory board from outside government that will offer input on the economy.  Watch raw video of his statement.

President-elect Barack Obama says there isn’t a “minute to waste” in solving the nation’s economic crisis, which he says is likely to get worse before it gets better.  Hear his statement.

Financial meltdowns, bailouts, credit crisis, recession, depression..These are the headlines we hear everyday now. We get it, our economy is in trouble. So, what can we do to help turn it around?

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.

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

The decision opens the door to American Express being able to accept deposits and permanently access low-cost financing from theFed

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.

The Federal Reserve estimates Americans have run up about $900 billion in credit card debt. And the number of those even with good credit who are defaulting on their balances is rising.

The Federal Reserve today is scheduled to wrap up its two-day policy setting session, by announcing an interest rate cut.

The Federal Reserve meets today and an interest rate cut is expected

Stock prices finished the day solidly higher, with the Dow gaining more than 400 points for the day.