... Citigroup is cutting 53,000 jobs, JPMorgan Chase plans to cut its investment bank staff by 10 percent, and Bank of New York Mellon Corp. will reduce its workforce by 1,800. And with the economy hammered, people and businesses alike are spending ...

WASHINGTON Top executives of the nation's biggest banks said Friday after meeting with President Barack Obama that they will work with the administration on its economic recovery plans, but want more specifics from the White House.

WASHINGTON First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.