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Credit Crunch

Time To Buy A House?

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

For those with a little bit of actual cash in the bank, this might be getting within shouting distance of the time to start looking at that house we could never afford.

Looking For Mr. Goodnews

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

Inflation in China is very high. It's hard to figure how that will benefit us, but on a list of things that come under the rubric "grim satisfaction,"...

Recession 101: What Are the Signs?

ABC News | Posted 05.25.2011 | Business

Though the country is not yet officially in a recession, some economists argue the signs are pointing to one. A dismal job report released Friday add...

Frugal Consumers Swap Steak For Chicken

Reuters | Posted 05.25.2011 | Business

At U.S. warehouse club stores, a growing number of shoppers are giving up steak for cheaper chicken. Coffee sales are soaring at McDonald's, while hig...

Merrill Lynch CEO Says Worst is Over

Reuters Via CNBC | Posted 05.25.2011 | Business

U.S. bank Merrill Lynch will not need to return to the market again following the turbulence in credit markets that forced it to raise nearly $13 bill...

Fed Acts To Ease Strain On U.S. Economy

New York Times | Edmund L. Andrews | Posted 05.25.2011 | Business

Impelled to take extraordinary measures for the second time in less than a week, the Federal Reserve moved on Tuesday to subdue the deepening crisis i...

Bernanke Calls for More Mortgage Relief

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Battling a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke called Tuesday for additional relief and urge...

Fed: Economy Has Weakened

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The economy has weakened since the start of this year as shoppers turned even more cautious given the severe housing slump and pain...

Credit Crunch Worries Economists

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The cascading fallout from the subprime loan crisis, barely a cloud on the horizon a year ago, is now viewed by experts as the econ...

AIG Hammered By Credit Crunch

Wall Street Journal | Liam Pleven | Posted 05.25.2011 | Business

The credit crunch hit American International Group Inc. with brute force, as the global insurer reported a $5.3 billion fourth-quarter loss largely be...

Wall Street Gears For New Pain

Wall Street Journal | LINGLING WEI, RANDALL SMITH | Posted 05.25.2011 | Business

After suffering a beating from their exposure to home loans, banks and securities firms are about to take their lumps from office towers, hotels and o...

US Home Foreclosures Soar in January

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to ta...

Existing Home Sales Decline

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Sales of existing homes fell for the sixth straight month in January, dropping to the slowest sales pace on record. Median home pri...

KKR In Credit Crunch

New York Post | ZACHERY KOUWE | Posted 05.25.2011 | Business

Even the barbarians didn't think the credit crisis would last this long. A firm affiliated with leveraged buyout giant Kohlberg Kravis Roberts & Co.,...

Consumer Spending Likely To Slow

Financial Times Via Yahoo | Chris Giles | Posted 05.25.2011 | Business

Consumer spending is likely to slow significantly because of tighter credit conditions, according to Tim Besley, an external member of the Bank of Eng...

Report: Banks "Quietly" Borrow $50 Billion from Fed

Reuters | Posted 05.25.2011 | Business

Banks in the United States have been quietly borrowing "massive amounts" from the U.S. Federal Reserve in recent weeks, using a new measure the Fed in...

U.S. Subprime Crisis Costs World $7.7 Trillion Dollars

AFP | Posted 05.25.2011 | Business

The meltdown in the US subprime real-estate market has led to a global loss of 7.7 trillion dollars in stock-market value since October, a report by B...

Subprimes Push UBS to First Annual Loss

AP | ERNST E. ABEGG | Posted 05.25.2011 | Business

ZURICH, Switzerland — UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other b...

Credit Crunch Worsening

Wall Street Journal | LIZ RAPPAPORT, CARRICK MOLLENKAMP, KAREN RICHARDSON | Posted 05.25.2011 | Business

A widening array of financial-market problems threatens to trigger a new phase in the global credit crunch, extending it beyond the risky mortgages th...

Mortgage Crisis Spreads Past Subprime Loans

New York Times | VIKAS BAJAJ, LOUISE STORY | Posted 05.25.2011 | Business

The credit crisis is no longer just a subprime mortgage problem. As home prices fall and banks tighten lending standards, people with good, or prime,...

Bush Administration Hides More Data, Shuts Down Website Tracking U.S. Economic Indicators

Think Progress | Posted 05.25.2011 | Business

The U.S. economy is faltering. Family debt is on the rise, benefits are disappearing, the deficit is skyrocketing, and the mortgage crisis has worsene...

Goldman CFO: Fear Is Ruling The Markets

Bloomberg Via NYP | Posted 05.25.2011 | Business

US credit markets are trading as if the economy is in a recession because investors' "fear has overwhelmed greed," Goldman Sachs Group Inc. Chief Fina...

AIG's Debt Problems Could Land CEO In Hot Water

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

American International Group's disclosure that its losses from risky debt may be billions of dollars more than previously reported could eventually pu...

Will Bernanke Send Wall Street A Valentine?

CNBC | Albert Bozzo | Posted 05.25.2011 | Business

Federal Reserve Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance be...

Fed President "Not Confident" Recession Avoidable

Reuters Via CNBC | Posted 05.25.2011 | Business

San Francisco Federal Reserve Bank President Janet Yellen on Thursday indicated a willingness to cut U.S. interest rates further and said she was "not...