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Credit Crunch

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...

Treasury Official: Credit Crunch Easing

AP | SHINO YUASA | Posted 05.25.2011 | Business

TOKYO — A U.S. Treasury official said Monday the global credit crunch is gradually calming following efforts by the Federal Reserve and other ce...

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...

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...

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...

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, ...

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...

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...

A Note To the Employees Of Bear Stearns

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

I'm sure your eyes goggled when you saw it too. JP Morgan paid a couple or three hundred million for a company worth incalculably more. It's stunning.

Profits At Goldman, Lehman Slashed In Half

MarketWatch | Greg Morcroft | Posted 05.25.2011 | Business

Wall Street titans Lehman Bros. and Goldman Sachs, at the center of a credit storm swirling through the global financial markets, both said Tuesday th...

Sales, Dollar Plunge; Oil Soars

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Oil hit a record high, the dollar sank again, and consumers stopped buying pretty much everything. Stocks kept gyrating, too, on T...

Is The Fed Giving Wall Street A Free Ride?

BusinessWeek | Chris Farrell | Posted 05.25.2011 | Business

Booms and busts are inevitable in a capitalist system. Right now, the Federal Reserve and, belatedly, the U.S. Treasury, are out to avoid facing the t...

U.S. Economy Battles Host Of Financial Woes

New York Times | Vikas Bajaj | Posted 05.25.2011 | Business

Almost everything seems to be going wrong for the American economy at once. People are buying less, but most things are costing more. Mortgage rates a...

Fed Cuts Interest; Stocks Soar

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve slashed a key interest rate by three-quarters of a point Tuesday, capping its most aggressive two months of act...

Everything You Wanted To Know About The Credit Crunch (But Were Afraid To Ask)

New York TImes | David Leonhardt | Posted 05.25.2011 | Business

Raise your hand if you don't quite understand this whole financial crisis. It has been going on for seven months now, and many people probably feel a...

Ross Bets A Billion On Municipalities' Strength

New York Post | Paul Tharp | Posted 05.25.2011 | Business

Wilbur Ross - who's betting $1 billion that municipalities will beat their latest funding crisis - says politicians are trying to help but have it all...

Is This The Worst Crisis Ever?

Eben Esterhuizen | Posted 05.25.2011 | Business
Eben Esterhuizen

A bear market is only possible if there is a consensus that a financial crisis is significantly worse than ever before. And that is why we are currently in a bear market.