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The ranks of the nation's poor swelled to nearly 1 in 6 people last year, reaching a new high as long-term unemployment woes left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in over two decades.
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Five of the world's largest central banks have announced a coordinated injection of dollars into banking systems, in response to growing concerns over liquidity problems in the euro zone. However, analysts say, they cannot solve the underlying solvency crisis.
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After UBS announced it had lost $2 billion due to an alleged rogue trader, the world's major central banks stepped into the void created by the euro zone debt crisis.