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Credit Crunch

Spitzer: "Financial Tsunami" Is Coming

AFP | Posted 05.25.2011 | Business

New York state governor Eliot Spitzer warned Thursday that bond and credit woes afflicting Wall Street and global markets could turn into a more damag...

Home Prices May Sink Another 25% By 2010

BusinessWeek | Peter Coy | Posted 05.25.2011 | Business

As Washington policymakers struggle to keep the U.S. out of recession, the swirling confusion over the housing market is making their job a lot toughe...

How Much Will Bernanke Cut?

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve delivered powerful new relief to people and businesses squeezed by the ailing economy Wednesday, cutting intere...

Congress Seeking New Stimulus Package To Jolt Slumping Economy

AP | ANDREW TAYLOR | Posted 05.25.2011 | Business

WASHINGTON — House Democratic and Republican leaders appeared close to agreement with the White House Wednesday night on a significantly reworke...

World Markets Still Volatile

AP | TOBY ANDERSON | Posted 05.25.2011 | Business

LONDON — European shares dropped sharply Wednesday while Asian shares rose in a volatile market mix as investors digested the U.S. Federal Reser...

Sallie Mae Lost $1.6 Billion in 4Q

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Sallie Mae, the embattled student lender, said Wednesday it lost $1.6 billion in the fourth quarter as borrowing costs rose and it ...

Fed Increases Lending To Banks

Reuters | Posted 05.25.2011 | Business

United States banks on average borrowed $4.83 billion a day directly from the Federal Reserve in the week ended Dec. 26, up from $4.62 billion a day t...

Florida Caught In Eye Of Burst Real Estate Bubble

New York Times | Peter S. Goodman | Posted 05.25.2011 | Business

Two years ago, when Eric Feichthaler was elected mayor of this palm-fringed, middle-class city, he figured on spending a lot of time at ribbon-cutting...

Fed Auctions Another $20 Billion In Funds To Banks

AP | Martin Crutsinger | Posted 05.25.2011 | Business

The Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $20 billion in funds to commer...

MAXjet Bankruptcy Strands Holiday Travelers

AP | John Wilen | Posted 05.25.2011 | Business

MAXjet Airways ceased operations on Monday -- leaving jets on tarmacs and stranding passengers on Christmas Eve -- as the all-business class airline f...

More Americans Delinquent In Paying Back Credit Card Bills

AP | RACHEL KONRAD, BOB PORTERFIELD | Posted 05.25.2011 | Business

Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages...

Bush Says U.S. Economy Fine, Despite Credit Crunch

AP | Ben Feller | Posted 05.25.2011 | Business

President Bush worked to reassure Americans on Monday about the economy but said "there's definitely some storm clouds and concern" because of the nat...

Greenspan Warns Against Stagflation, Calls For More Aid To Homeowners

AP | Kevin Freking | Posted 05.25.2011 | Business

Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for homeowners facing the...

Fed Unveils Protective New Home Mortgage Proposal

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

The Federal Reserve unveiled a proposal Tuesday that would give people taking out home mortgages new protections against shady lending practices. The...

U.S. Mortgage Crisis Rivals '80s S&L Meltdown

Wall Street Journal | GREG IP , MARK WHITEHOUSE and AARON LUCCHETTI | Posted 05.25.2011 | Business

The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global econom...

National Debt Grows At $1 Million A Minute

AP | Tom Raum | Posted 05.25.2011 | Business

Like a ticking time bomb, the national debt is an explosion waiting to happen. It's expanding by about $1.4 billion a day - or nearly $1 million a min...

Long-Feared Consumer Crunch Is Coming

BusinessWeek Via MSNBC | Michael Mandel | Posted 05.25.2011 | Business

The long-awaited, long-feared consumer crunch may finally be here. That might not mean an economywide recession, but the pain for American households ...

3 Myths About The Turbulent Market

Fool.com | Morgan Housel | Posted 05.25.2011 | Business

The past few months haven't been short of hair-raising moments in the stock market. From panic to jubilation, and then back to panic, it's hard to tel...