Washington - Wall Street's top executives on Wednesday defended the hundreds of billions of dollars their struggling firms have received in government bail-out funds, insisting the money has helped improve lending to consumers.
Many also recognized the sharp degree of public outrage at the slow recovery process and accepted some responsibility for the near- collapse of the US and global financial system.
Berlin - In a surprise move, German Economics Minister Michael Glos offered to resign Saturday, less that eight months before the country votes in a general election, sources close to the minister said.
The sources confirmed a report in the newspaper Bild am Sonntag, which said the 64-year-old minister had informed Chancellor Angela Merkel of his intention.
Berlin - German Economics Minister Michael Glos offered to resign Saturday, less that eight months before the country votes in a general election, sources close to the minister said.
The sources confirmed a report in the newspaper Bild am Sonntag, which said the 64-year-old minister had informed Chancellor Angela Merkel of his intention.
Glos is a member of the Christian Social Union (CSU), the Bavarian sister party of Merkel's Christian Democrats (CDU).
Berlin - German Economics Minister Michael Glos has offered to resign, the newspaper Bild am Sonntag reported on Saturday.
The newspaper said the minister had informed Chancellor Angela Merkel of his intention.
Glos is a member of the Christian Social Union (CSU), the Bavarian sister party of Merkel's Christian Democrats (CDU).
The 64-year-old Glos expressed his desire to step down in a letter to CSU leader Host Seehofer, who is also president of the southern German state of Bavaria.
Washington - US President Barack Obama on Friday created a new bipartisan advisory board to develop solutions to the country's economic crisis as he warned lawmakers that immediate action was critical to pulling the US out of a serious recession.
The 17-member board, led by former Federal Reserve chairman Paul Volcker, includes conservative and left-leaning economists from academia, labour unions and business.
"This is just the beginning of a long journey back to progress and prosperity," Obama said in prepared remarks released by the White House.
Washington - Wall Street's top executives on Wednesday defended the hundreds of billions of dollars their struggling firms have received in government bail-out funds, insisting the money has helped improve lending to consumers.
Wash
Berlin - In a surprise move, German Economics Minister Michael Glos offered to resign Saturday, less that eight months before the country votes in a general election, sources close to the minister said.
Berlin - German Economics Minister Michael Glos offered to resign Saturday, less that eight months before the country votes in a general election, sources close to the minister said.
Berlin - German Economics Minister Michael Glos has offered to resign, the newspaper Bild am Sonntag reported on Saturday.
Washington - US President Barack Obama on Friday created a new bipartisan advisory board to develop solutions to the country's economic crisis as he warned lawmakers that immediate action was critical to pulling the US out of a serious recession.
