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The turmoil in credit markets poses a "significant threat" to an already slowing U.S. economy, Federal Reserve Chairman Ben Bernanke said. The Dow Jones industrial average plunged more than 700 points, two days after posting a record gain, as investors worried about the depth of a coming recession.

During his presidential campaign, Barack Obama appealed to the LGBT community with visions of what an Obama administration would accomplish on behalf of fair treatment and equality. But that’s not happening fast enough – if at all – for gay and lesbian Democrats who opened their wallets to Obama with high hopes.

San Diego City Attorney Jan Goldsmith joins us to talk about the next steps in the city pension case.

President Obama's fiscal commission begins its final round of meetings Tuesday, which may or may not produce a plan to cut the nation's growing debt.

For the past eight weeks, the Federal Communication Commission has been auctioning off airwaves that will be empty when television stations move to digital format next year. Bidding ended Tuesday, with the FCC — and ultimately the U.S. Treasury — raking in about $20 billion.

Scientists from the U.S. Geological Survey say the flow rate from the blown-out well is at least twice as much and possibly five times as much as estimates cited by BP. The oil giant says engineers won't know until at least Thursday afternoon whether the latest attempt to plug the leak is succeeding.

The Justice Department charged 14 people who allegedly have been helping funnel young men in the U.S. to a terrorist group in Somalia, Attorney General Eric Holder said Thursday.

Analysts on Wall Street fear that another big investment bank could be teetering on the edge of disaster. Investors this week will watch closely the earnings of major banks and look for any signs that aggressive moves by the Federal Reserve are bringing stability back to credit markets.

The City of San Diego has reached a compromise on a pension reform ballot measure that's supposed to save the city more than 300 million over 5 years.

The Federal Reserve says the last two big, independent investment banks, Goldman Sachs and Morgan Stanley, are scrapping the business model that made them so profitable for so long. They are now bank holding companies and are regulated by the Fed.