Jobless claims shoot up to 2-year high
WASHINGTON – The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises.

Market opens lower after jobless claims rise
NEW YORK (Reuters) – Stocks fell on Thursday after a report showed jobless claims rose more than expected last week, stoking fear that monthly employment data due on Friday could show further signs of a contracting U.S. economy.

Regulators say Bear collapse showed weaknesses
WASHINGTON (Reuters) – The collapse and forced sale of Wall Street giant Bear Stearns exposed the dangerous interconectedness of financial markets and the faulty oversight now in place, U.S. regulators said in prepared congressional testimony on Thursday.

US officials defend Bear Stearns actions
WASHINGTON – The unprecedented actions to prevent the collapse of Bear Stearns were taken to preserve the viability of the U.S. financial system and do not represent any kind of federal bailout, Federal Reserve Chairman Ben Bernanke says.

Retire To Their Native Countries (thanks to MyLatinoNews.com)
They came to the United States with the idea of forging a better future, and they did it. Now, however, growing numbers of Latin American immigrants close to retirement age are choosing to return to their countries of origin, where their Social Security checks, private pensions and savings will stretch further.

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