FDIC Reports That Bank Failures Are Rising

Sheila Bair, head of the Federal Deposit Insurance Corporation , is working hard to reassure everyone that her banks, all 8,305 of them, are safe. Repeating her familiar mantra Wednesday on the CBS Morning Show, Bair said of FDIC-protected accounts, “Nobody’s ever lost a penny of insured deposits.” Bair had good reason to be out on the stump

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U.N. court to convene for Lebanon assassination

The tribunal established to prosecute people allegedly responsible for the killing of former Lebanese Prime Minister Rafik Hariri and 22 others will officially convene at The Hague in Netherlands on Sunday. The car bomb in Beirut in February 2005 transformed the turbulent nation’s politics and sent shock waves across the Middle East and the world

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Banker in Obama speech recognized for his generosity

More than two dozen guests joined first lady Michelle Obama at the president’s speech to a joint session of Congress Tuesday night. One person on the first lady’s guest list was Leonard Abess Jr., a Miami banker who received a $60 million bonus from the proceeds from the sale of shares of City National Bank in Florida and gave it out to his 399 workers and 72 former workers.

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Obama puts forth ambitious agenda in speech

In his first speech to a joint session of Congress, President Obama outlined an ambitious agenda to revive the economy, saying it’s time to act boldly "to build a new foundation for lasting prosperity." Obama focused on the three priorities of the budget he will present to Congress later this week: energy, health care and education. The president said he sees his budget as a “vision for America — as a blueprint for our future,” but not something that will solve every problem or address every issue. Obama said his administration already has identified $2 trillion in government spending cuts that can be made over the next decade

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Obama outlines budget priorities in speech

In his first speech to a joint session of Congress, President Obama outlined the three priorities of the budget he will present later this week: energy, health care, and education. The president said he sees his budget as a “vision for America — as a blueprint for our future,” but not something that will solve every problem or address every issue.

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