NEW YORK, May 9 -- Citigroup said Friday it would shed about $400 billion in real estate, loans and other assets over the next few years as it tries to return to profitability after huge losses in the mortgage and credit markets.

With a nationwide housing crisis far from over, the risk of future mortgage losses is rapidly shifting from the private sector toward government – and potentially US taxpayers.

CHARLOTTE, N.C. -- Wachovia Corp. said Tuesday it is nearly doubling previously reported losses for the first quarter after reviewing its portfolio of bank-owned life insurance.

Fannie Mae, a key source of mortgage funding, today reported that falling home prices and rising defaults contributed to further losses for the government-sponsored company during the first quarter.

LONDON -- Royal Bank of Scotland said Tuesday it had suffered $11.7 billion in additional losses and was forced to raise $23.9 billion in new capital to cover exposure to toxic U.S. loans.

NEW YORK (Reuters) - A U.S. judge sentenced the "mastermind" behind the collapsed hedge fund Bayou Group to 20 years in prison on Monday, a sentence that reflects the big losses suffered by investors in the $400 million fund.

Charles Schwab has weathered the financial crisis better than most banks and brokerage firms. Because the San Francisco broker was not a major seller or buyer of mortgage-related securities, it hasn't suffered the kind of losses that many investment banks and...

Charles Schwab has weathered the financial crisis better than most banks and brokerage firms.

A look at what the changes at Washington Mutual mean for customers and investors. Washington Mutual Inc. said Tuesday that it had raised $7 billion from private investors to bolster its capital, which has been depleted by a stream of deepening sub-prime mortgage losses.

Worldwide losses from the credit crisis could near $1 trillion, the International Monetary Fund said yesterday, reflecting the massive cost of the breakdown in markets for home mortgages and other kinds of debt.