The Wall Street Journal reports Tuesday that MF Global's former chairman and CEO Jon S. Corzine ignored several internal warnings about the risks associated with taking on exposure to Europe before the company declared bankruptcy. Lynn Neary talks to Wall Street Journal reporter Julie Steinberg, one of the article's coauthors, for more.
Halliburton, meanwhile, denies that allegation and accuses BP of fraud and defamation. The two companies are trading charges and blame for the nation's worst offshore oil spill — the April 2010 disaster in the Gulf of Mexico.
The 2008 financial crisis made it clear: Americans save too little, spend too much and borrow excessively, says Princeton professor Sheldon Garon. In Western Europe and East Asia, governments aggressively encourage people to save through special savings institutions and savings campaigns.
The U.S. Postal Service is proposing changes to stem the billions of dollars in red ink it's accumulating. While it's trying to shore up its losses, people's preference for email and online bill-paying — along with competition from the likes of FedEx and UPS — is eating away at its core business.
Many farmers are upset with the Obama administration over a proposal to change child labor laws for kids who work on farms. Many family farmers say the rule changes — a response to a number of high-profile farming accidents involving kids around the country — are well-intended but could put some businesses in a bind.
Tuesday is billed as National Occupy Our Homes Day, and people are being asked to participate in some sort of civil disobedience at foreclosed, bank-owned homes. But a group in Madison, Wis., has been illegally moving people into foreclosed properties for the past couple of years.
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