Secured creditors made out particularly poorly, highlighting weak underwriting and changing capital structures.
GDP will expand by less than 2 percent annually during the next decade, former Reagan advisor warns.
Proposed change in accounting rules would show many insurers' income and finances are inflated by deferred costs.
Despite blowout headline numbers, continuing losses on mortgages and credit cards mean significant pain remains ahead.
Congress should curb "naked" credit default swaps, heads of SEC, FDIC testify.
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