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Credit Crunch

Credit: Man's Confidence in Man

Dr. R. Keith Sawyer | Posted 05.25.2011 | Business
Dr. R. Keith Sawyer

"Commercial credit is the creation of modern times and belongs only to the most enlightened and best governed nations." I stumbled on this frieze after giving a talk at Harvard Business School.

Wall Street Credit Crash Threatens To Tank U.S. Auto Industry

Diane Tucker | Posted 05.25.2011 | Home
Diane Tucker

"Every job lost on Wall Street impacts two-to-three jobs on the outside. By comparison, every job lost at an auto plant impacts nearly 10 jobs on the outside... We don't want to know what happens if the domestic auto industry gets away from us."

The Credit Squeeze Scare

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

While the story of the big Wall Street banks teetering may be unique to the current downturn, the stories we hear of the Main Street credit squeeze could be cut and pasted from the 1990-1991 recession.

Not a Bailout - A Rescue

Jean Chatzky | Posted 05.25.2011 | Business
Jean Chatzky

If credit dries up and there is no plan, more of your neighbors will lose their homes. Those homes will sit empty because potential buyers will not be able to come up with financing.

Waiting for the Deluge

Sasha Abramsky | Posted 05.25.2011 | Business
Sasha Abramsky

In some ways, it's not only the economy that's now facing organ failure; it's also the GOP itself. Over the next few days we'll be seeing something approaching a civil war developing in the party.

The Yalie Who Could Save Us Billions

Glenn Hurowitz | Posted 05.25.2011 | Business
Glenn Hurowitz

There is another model that works extremely well: the relatively modestly paid money managers employed by major educational institutions and pension funds.

Would You Really Buy a Mortgage From John McCain?

Johann Hari | Posted 05.25.2011 | Politics
Johann Hari

McCain has Herbert Hoovered-up his slivers of economic theory from this man -- but who is Phil Gramm? His chuckle-headed ideological fanaticism nearly brought the global economy down -- twice.

How to Get the Economy from its Vicious to a Virtuous Cycle -- But Radical Righties Won't Let it Happen

Paul Abrams | Posted 05.25.2011 | Politics
Paul Abrams

By restraining spending via pay-as-you-go, and taking in more revenues through higher taxes on the wealthy, Clinton and Bush Sr. caused interest rates to come down, and the economy took off.

My Talk With Bob Reich: Only Democrats Can Save Globalization from Republican-Generated Backlash

Nathan Gardels | Posted 05.25.2011 | Business
Nathan Gardels

Robert Reich: "Capitalism has always required regulation in order to ensure against fraud and excessive speculation. Greenspan allowed the economic crisis to happen because he believed that capitalism was self-correcting."

Artificially Low Interest Rates, Pre- and Post-9/11

Max Keiser | Posted 05.25.2011 | Business
Max Keiser

The rogue ship I mentioned four years ago, Fannie Mae, has finally capsized and the results are seeping into inflationary expectations for the dollar (bad) and gold (good).

First Half Of 2008 Worst Start For Dow In Nearly Four Decades

Reuters | Jennifer Ablan | Posted 05.25.2011 | Business

The worldwide credit crisis that burst onto investors' radar screens nearly a year ago wiped out some $3.3 trillion in wealth from global stock market...

Late Loan Payments Causing New Bank Crisis

Washington Post | David Cho | Posted 05.25.2011 | Business

Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in ...

Empire or Democracy: Are We Ready for the Fall?

John W. Whitehead | Posted 05.25.2011 | Politics
John W. Whitehead

As resources are drained, the principles inherent in a democratic republic will be compromised by what is needed to sustain a militaristic empire like the US.

The Economic Debate Has Yet to Target Key Issues

Danny Schechter | Posted 05.25.2011 | Business
Danny Schechter

The US does not have energy independence or, for that matter, financial independence. Why? Partly because we live as if we are an island empire in an interdependent world.

Credit Liquidity and H2O Liquidity Are Both Drying Up

Max Keiser | Posted 05.25.2011 | Business
Max Keiser

The disappearance of water and credit has a common cause: a broken neo-classic capitalist system that forgot to factor in the replacement cost of natural resources and the costs of pollution.

Student Loans Start To Bypass 2-Year Colleges

New York Times | Posted 05.25.2011 | Business

Some of the nation's biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive insti...

Paulson: The Worst Is Behind Us

Reuters via Yahoo | Posted 05.25.2011 | Business

U.S. Treasury Secretary Henry Paulson said U.S. financial markets are emerging from the credit crunch that many economists believe has pushed the coun...

Feeble GE Profits Shake Markets

Bloomberg | Raychel Lane | Posted 05.25.2011 | Business

General Electric Co. reported its first decline in quarterly profit since 2003, missing analyst estimates with a 12 percent drop in earnings as a free...

Even Thai Talismans Hit By Credit Crunch

Wall Street Journal | James Hookway | Posted 05.25.2011 | Business

To the list of speculative market bubbles popping around the world, add this: Thai religious talismans. Last year, prices for the small discs inscrib...

Stocks In Longest Funk Since 1970s

Wall Street Journal | E.S. BROWNING | Posted 05.25.2011 | Business

Over the past 200 years, the stock market's steady upward march occasionally has been disrupted for long stretches, most recently during the Great Dep...

Worried Banks Horde Cash

Financial Times | Chris Giles, James Politi | Posted 05.25.2011 | Business

Central banks' efforts to ease strains in the money markets are failing to stop financial institutions from hoarding cash, stoking fears that the rece...

20,000 Wall Street Jobs Threatened By Credit Crisis

Guardian | Andrew Clark | Posted 05.25.2011 | Business

More than 20,000 people are forecast to lose their jobs on Wall Street as the credit crunch bites into business at financial institutions over the nex...

Ben Bernanke Got Punk'd

Motley Fool | Rick Aristotle Munarriz | Posted 05.25.2011 | Business

Yesterday's fivefold increase in JPMorgan's (NYSE: JPM) bidding price for the Al Capone vault that Bear Stearns (NYSE: BSC) has become is as shocking...

Not So Fast On Mortgage Solutions

Washington Independent | Charles R. Morris | Posted 05.25.2011 | Business

A drumbeat is building for some form of federal takeover of troubled home mortgages. Sen. Chris Dodd (D-Conn.) is leading the charge in the Congress, ...

Econ 101: Credit Crunch For Dummies

ABC News | SCOTT MAYEROWITZ | Posted 05.25.2011 | Business

Is your head spinning these days trying follow what is going on with the economy? Subprime. Collateralized Debt Obligations. Liquidity. Every day it...