In Portugal, austerity has meant up to a 30 percent pay cut for civil servants. Unemployment is at more than 15 percent, and the economy continues to shrink. The European Union recently warned the Portuguese people may have to sacrifice even more.
And now to big money that's tied up in a company's pension fund. Tens of thousands of white-collar Ford retirees will soon have a big decision to make: Should they stay in the auto company's pension plan, or take their chances with a lump sum payout instead? The offer is believed to be the first of its kind for such a large, ongoing pension fund.
JPMorgan Chase hosted its annual shareholder meeting in Tampa Tuesday, and it was the first chance for shareholders to weigh in on the banks problems. News the bank lost at least $2 billion in a botched trading strategy gave fresh fodder to critics who want banks to be more tightly regulated.