GMAC, the auto and mortgage finance company majority owned by Cerberus Capital Management, reported a $2.5 billion loss Thursday as vehicle sales plummeted and the housing slump sent foreclosures higher.

The case against the Bear Stearns executives who oversaw two giant, but ultimately doomed, hedge funds, spotlights one of the most vexing problems confronting Wall Street as the credit crisis plays out: how to value tricky investments linked to subprime m

The federal government's planned $4 billion investment in the mortgage market is a small but welcome step in the right direction, the mortgage industry says.

Credit Suisse Group has posted a worse-than-feared first quarter net loss of 2.148 billion Swiss francs, after a profit of 2.729 billion the year before, caused by fresh writedowns over 5.281 billion related to leveraged finance and structured products bu

Banks and investment banks (especially) really screwed the pooch. Collectively, they took too many unwarranted risks and didn't have the capital--that's actual money in the sock--to withstand a collapse of the consumer credit market.