According to The Federal Reserve Bank of New York, the 11233 zip code that encompasses Bedford-Stuyvesant and Crown Heights had the highest foreclosure rates for subprime mortgages in the entire nation in October. More than one in four people, or 25.2%, with subprime loans in the zip code lost their homes to foreclosure. That's almost four times the national average of 6.9%. It's a stark example of the toll that the lending meltdown is taking......

The Federal Reserve's interest rate cut helped the stave off a huge drop the stock market yesterday. Though the Dow Jones did fall 465 points at one point, it ended 128 points down. Another feature of the rate cut: Home loan applications jumped. The global markets had tumbled on Monday (during the U.S. Martin Luther King Jr. Day holiday) because of U.S. recession fears, but Asian markets gained a little today after news of the......

Dow Jones Industrial Average dropped more than 300 points by mid-day as worldwide financial markets worry about the U.S. credit market. The Dow Jones, as well as the Standard & Poor's 500 and Nasdaq, have lost 10% since July, and a strategist at Absolute Strategy Research tells the Times, "The psychology is shifting notably today. When a market drops by 10 percent, people start to feel it in their portfolios. People are used to......

Today on the Gothamist Newsmap: A Large Sink Hole at 187th Pl. and Jamaica Ave. in Queens, a Serious Multi-Vehicle Accident on 125th and Lenox Ave. in Manhattan, and Bank Robbery at 178th St. and Hillside Ave. in Queens. Podpeople are invading the city! 800 podcasters to descend upon Manhattan for PodCampNYC. Queens DA Richard Brown is leading the charge to bring the death penalty back to New York State. The Federal Reserve Bank......