From a courtroom in Manhattan, not far from the epicenter of the nation’s financial crisis, a longtime federal judge is becoming a hero to many and a nightmare to some for demanding greater accountability in cases of alleged Wall Street fraud. Read full article > >

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Judge Jed Rakoff on free love, the death penalty, defending crooks and Wall Street justice

From a courtroom in Manhattan, not far from the epicenter of the nation’s financial crisis, a longtime federal judge is becoming a hero to many and a nightmare to some for demanding greater accountability in cases of alleged Wall Street fraud. Read full article > >

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Judge Jed Rakoff on free love, the death penalty, defending crooks and Wall Street justice

VATICAN CITY — The world economy needs “new rules” to overcome the current financial crisis and to ensure that “all can lead a dignified life,” Pope Benedict XVI told Vatican diplomats on Monday (Jan. 9). Benedict’s New Year’s address to diplomats accredited to the Holy See traditionally presents the Vatican’s views on global affairs. The Holy See has diplomatic relations with 179 countries, and is a permanent observer at the United Nations. Read full article > >

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Pope tells diplomats that economy needs ‘new rules’

Technically, the financial crisis began in late 2008, with the collapse of Bear Stearns and Lehman Brothers. But 2009 was the year we really felt it. It was in 2009 that we lost more than 5 million jobs — the majority of the total job losses caused by the recession. By 2010, we seemed to turn the corner. The economy added more than a million jobs. Growth returned. The financial markets stabilized. Many forecasters looked to 2011 with real optimism. Read full article > >

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2011, the year of the aftershocks

The Archbishop of Canterbury will say this year’s riots and financial crisis have led to “broken bonds and abused trust” in Britain.

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VIDEO: Archbishop laments abuse of trust

PARIS — France and Britain escalated an unusual bout of sniping Friday, as Prime Minister David Cameron took a swipe at religious freedoms in France while the French finance minister criticized the U.K. economy. The latest cross-Channel squabbling — triggered in part over a tense European Union summit last week — bared efforts to win political points at home at a time when the financial crisis has pinched both governments. Read full article > >

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France, Britain engage in cross-Channel sniping amid tense politics, sour economic climate

Europe’s financial crisis is rapidly metastasizing into a political one, and the coherence of the European Union is more doubtful than at any previous time in recent memory. That’s the meaning of last week’s European summit , in which 26 leaders either accepted a German-French plan for tight fiscal discipline or agreed to consider it — while British Prime Minister David Cameron said no , amid nationalistic finger-pointing across the continent. Read full article > >

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The man who predicted the European debt crisis

At the heart of the clash over how best to manage a vast financial crisis is the question of how far governments must bend or even bow to the power of the markets.

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Euro Crisis Pits Germany and U.S. in Tactical Fight

The Obama administration has been adamant that Europe can afford to resolve its financial crisis on its own, and that U.S. taxpayers and others outside the region should not foot the bill for any expanded bailout effort. But a developing plan for Europe to funnel rescue funds through a series of loans to the International Monetary Fund could leave the United States and other IMF members holding the bag. Read full article > >

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Euro program at IMF could spread rescue risk worldwide

Since the financial crisis of 2008, state and local budgets have been tightened in new ways that are being felt in courthouses and communities across the country.

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Budget Cuts for State Courts Risk Rights, Critics Say

David Cameron tells the CBI conference the financial crisis in the eurozone is having a “chilling effect” on the UK’s economy.

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Cameron: Euro crisis ‘chilling’

The eurozone financial crisis is set to dominate a meeting between British Prime Minister David Cameron and German Chancellor Angela Merkel in Berlin.

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Cameron and Merkel set for talks

Italy’s president says Prime Minister Silvio Berlusconi will step down within days, as the country’s financial crisis deepens.

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Berlusconi to quit ‘within days’

The sluggish economy and Dodd-Frank restrictions are affecting bankers’ compensation, leading to the weakest bonus season since the financial crisis.

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DealBook: Wall St. Pay Is Expected to Fall 20% to 30%

European leaders, in a significant step toward resolving the euro zone financial crisis, early Thursday won an agreement from banks to take a 50 percent loss on the face value of their Greek debt.

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Europe in Accord on Basics of Plan to Save the Euro