Feature

The Reckoning: Citigroup Pays for a Rush to Risk

by Eric Dash and Julie Creswell, The New York Times

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Risk taking by Citigroup leaders led to a major financial crisis for the company. (Photo: The Age)



    In September 2007, with Wall Street confronting a crisis caused by too many souring mortgages, Citigroup executives gathered in a wood-paneled library to assess their own well-being.»

Obama and Biden with Economic Advisory Board.

Obama Taking Action Before Taking Office

by: Peter Wallsten, The Los Angeles Times

    Washington - With a series of forceful actions in recent days, amid an almost unprecedented set of challenges, Barack Obama has taken an unusual step for a president-elect: attempting to alter the country's perilous course even before he takes office.

    The most dramatic example came Saturday, when Obama announced a far more aggressive economic stimulus plan than previously promised - a two-year program to addd 2.5 million jobs he said represented "an early down payment on the type of reform my administration will bring to Washington." »

Democratic leadership ready to move quickly.

Democrats Plan Quick 2009 Start on Bills

by: David Espo, The Associated Press

    Washington - Eager for a quick start, Democratic congressional leaders intend to begin work in early January on priority legislation so it can be ready for President-elect Barack Obama's signature shortly after he takes office, according to officials familiar with the plans.

    These officials said an economic aid measure, legislation to expand health care for lower-income children and a loosening of Bush administration rules covering federally funded embryonic stem cell research are among the bills at the center of discussions with Obama a »

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