The total of American jobs lost during the recession hits 5.1 million. The national unemployment rate climbs to 8.5%, although most analysts believe the rates rise will begin to slow, as the Federal Stimulus package money begins to reach workers and businesses. The Bureau of Labor Statistics reported that the national unemployment rate climbed to 8.5 [...]

The G20, or Group of 20, met for the London Summit of 2009, and ratified a contentious pact over aid to provide bailout assistance to developing countries to help keep them out of bankruptcy. This followed on the heels of the G20 protests of the day before. [...G20 Leaders...] committed to $1.1 trillion in additional loans [...]

The Financial Accounting Standards Board ratified a vote to give more leeway to bank management in reporting the value of their mortgage backed securities portfolios. The changes seem likely to allow banks to report higher profits by assuming that the securities are worth more than anyone is currently willing to pay for them. [..] The banks [...]