Even as shareholders of Countrywide Corp. gathered in Calabasas to approve the sale of the company to Bank of America, the Attorney Generals of California and Illinois filed lawsuits suing...
Banks are just getting going with the job cuts and there are still more write-downs to come. People are trying to paint a pretty picture on the subprime mess, but we still are nowhere near done...
The President of the Boston Federal Reserve, Eric Rosengren wrote an opinion piece that is more public service announcement. He encourages homeowners with subprime mortgages to get help before...
A new paper on leveraged losses due to the subprime mortgage crisis uncovers a $2 trillion shrinkage in banks' balance sheets and a GDP takes a hit of 1 to 1.5%.
A Blogger calling himself Captain Capitalism has put together a short cartoon that explains the mortgage mess. From what I can tell he's an economics professor at a university in Minnesota.
US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two months ago to help ease the credit crunch....
Intriguing article on how Goldman Sachs beat the subprime market crash inspite of being one of the giant firms of Wall Street, all of whom followed the herd...
Facing new writeofs, Citi could be looking to get as much as $10 billion, likely all from foreign governments...Countrywide Corp. on collision course with bankruptcy...
It seems like the entire world was thrown by the US mortgage meltdown. This article about its affects in the government of Sweden. A separate article in today's Wall Street Journal discussed how...
Article | Submitted Oct 4, 2007 | Views: 167 | Comments: 1
Tags: subprime, sweden, australia
S&P and Moody's those venerable rating institutions totally missed the coming storm on the sub-prime market. Until June sub-prime bonds were rated AAA. Most are now junk.
So much for the experts.
The subprime/mortgage mess has accelerated this week and today the Fed stepped in to shore up the market. Many believe that a rate cut is inevitable to further shore up the market. In the...
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