Former Federal Reserve chairman Alan Greenspan says the economic downturn is not quite over but that the end is nearing. Greenspan says that the health of the financial system has improved significantly. He says the collapse of the financial system is "off the table" after the system teetered ...

Nortel Networks (TSX: T.NT, Stock Forum) said Monday that its revenues fell 37% in the first quarter of the year, resulting from the continuing economic downturn, uncertainty created by the company’s creditor protection proceedings, and an unfavourable impact of foreign exchange fluctuations. Nortel, which filed for creditor protection in January, reported ...

WHY NATIONS SINK OR SWIM

False Economy: A Surprising Economic History of the World By Alan Beattie Riverhead Books; 321 pp.; $26.95 The U.S. is the world's largest economy while Argentina is a serial debt defaulter with a history of dictatorship. Things could have gone the other way. Both countries had ample land, natural resources, and a ...