Former United States Federal Reserve chairman Alan Greenspan confessed on Thursday that he had made mistakes in championing the light-touch US financial regulatory system, which led to what he admitted had become a once-in-a-century credit tsunami.
Unites States President Bush invited leaders of the Group of 20 participants to a summit in Washington on November 15 on the global economic crisis announced the White House on Wednesday.
United States Federal Reserve chief Ben Bernanke said on Monday more government spending may be needed to combat economic weakness. A fresh round of stimulus would be a good idea, he told the US House of Representatives budget committee.
Three decommissioned vessels from the United States Navy will be transferred in coming months to Peru and Chile once the US Congress approves the operation which is expected to happen at the end of the month, according to defence affairs publication Enfoque Estratégico.
United States President George W. Bush invited Brazilian leader Lula da Silva to participate in a summit of the world's leading economies to discuss the global financial crisis, a White House source said on Tuesday.
Economy Nobel Laureate Paul Krugman anticipated that relations between the United States and Latinamerica will change significantly if the Democratic candidate Barack Obama is elected president in two weeks time.
JPMorgan Chase & Co has become the largest US bank by assets surpassing long-time leader Citigroup Inc. On Thursday Citigroup Inc reported it ended September with 2.05 trillion US dollars of assets, while a day earlier JPMorgan led by Jaime Dimon, said it ended the month with 2.25 trillion US dollars.
The chairman of the US Federal Reserve said on Wednesday the US economy will eventually emerge from the financial crisis with renewed vigour, but warns it will not happen quickly.
United States policy towards Latinamerica will remain more or less on the same terms whether John McCain or Democrat Barak Obama wins the coming November presidential election, said US ambassador in Nicaragua Robert Callahan.
United States industrial production posted the biggest monthly decline since 1974 while consumer prices were flat in September, according to reports Thursday. Adding to the gloom a factory index for the Philadelphia region hit an 18-year low this month.