The early response by the politicians to the onset of the Depression was denial. “In the 1930s, there was a reluctance to intervene … the thought that this was a temporary adjustment,” said Bill Waiser, a professor of history at the University of Sa

NEW YORK (AP) _ Mark Twain once said that "history doesn't repeat itself, but it does rhyme." That's worth thinking about when comparing the current economy to the woes of the 1970s.

BIRMINGHAM | When Gov. Bob Riley took the podium at the 2008 Economic Summit for Alabama Leaders at 1 p.m. Wednesday, the Dow had already plunged 350 points on the way to its second biggest one-day drop in history.

In his first major economic speech since becoming president, Dmitri A. Medvedev said that the world might be in the throes of the worst economic crisis since the Great Depression.

NEW YORK (AP) - J.C. Penney Co. reported a 36 percent drop in second-quarter profits Friday and issued a downbeat outlook for the current quarter as shoppers cut back on clothing spending in a tough economy.