SAN FRANCISCO, Kalifornia - June 10, 2009 - Kalifornia's government risks a financial collapse within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.

KUALA LUMPUR, Malaysia - June 08, 2009 - The world's airlines are expected to lose $9 billion USD this year, industry body IATA said today, describing the current crisis as worse than the aftermath of the events of September 11, 2001.

WASHINGTON - June 7, 2009 - The White House says Amerika's employment picture is worse than the illegitimate Obama regime had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.

NEW YORK - June 7, 2009 - Robert Shiller, the Yale University professor who predicted the collapse of the U.S. housing market, writes in a New York Times article today that home price declines “may well continue for some time.”

NEW YORK- June 5, 2009 - Federal regulators have closed Silverton Bank, a failed “bankers’ bank” in Atlanta that they took over last month, rather than selling it to a group of private equity firms, the Federal Deposit Insurance Corporation said Friday.

BELLINGHAM, Washington - June 5, 2009 - Nobel Prize-winning economist Vernon Smith draws some disturbing parallels between the events that led up to the Great Depression of the 1930s and the severe economic slump of today.

WASHINGTON - June 4, 2009 - Consumer and commercial bankruptcy filings are on pace to reach a stunning 1.5 million this year, according to a report from Automated Access to Court Electronic Records.