Entrepreneurs are capable of surprising things we can’t predict, but which will undoubtedly make our lives better. If environmentalists would let free enterprise and market competition work their magic, the environment would get better seemingly on
The lenders are starting to be concerned about the risk of homeowners drawing down HELOCs while at the same time their property value is declining, leaving no equity in the home.
Standard & Poor's said it cut or may reduce ratings of $534 billion of subprime-mortgage securities and collateralized debt obligations, as home loan defaults rise.
Some Democratic and Republican presidential hopefuls are preaching economic doom and gloom, disappearing middle class, and failing health care industry. What's their solution? The short answer is give them more control over our lives.
The Federal Reserve cut a key interest rate for the second time in just over a week, reducing the federal funds rate by a half point. It signaled that further rate cuts were possible. The Fed action pushed the funds rate to 3%.
UBS AG, Europe's largest bank by assets, reported a record loss after about $14 billion of writedowns on assets infected by subprime mortgages in the U.S.
U.S. central banks may have less than half the gold they claim to possess in their vaults, charges a watchdog group in an ad scheduled for publication in the Wall Street Journal this week.
Still, when adjusted for inflation, gold remains well below its all-time highs in 1980. An ounce of gold at $940 then would be worth about $2,400 today.
The agency declined to identify the companies under investigation but said the inquiry, which began last spring, involves companies across the financial industry, including mortgage lenders, loan brokers and Wall Street banks that packaged home loans
Wall Street bond rating agencies are poised to downgrade two big bond insurers, Ambac Financial Group and MBIA...the downgrades could come as early as Wednesday.
Americans no longer need any more proof that the fiscal and monetary leadership of the United States is bankrupt. Both the republican administration and the democratic congress have joined hands in the total destruction of the American dollar. The c
If banks can make "business decisions" to ignore risks, to lend money with no down payment, and fire people at at the first sign of trouble without any remorse, why shouldn't consumers be able to do the same?
"Foreclosures have been growing at a rapid pace for all of 2007, and we anticipate almost an avalanche in 2008," says Rich Cosner, president of Prudential California Realty.
Countrywide said borrowers were delinquent on 33.64 percent of subprime loans.
The streets are empty. Trash rustles down the road past rusted barbecues, abandoned furniture, sagging homes and gardens turned to weed. Faded "for sale" signs sit in front of deserted houses. The residents are gone, either in search of new
Republican presidential hopeful Ron Paul has slammed a US economic stimulus package based on tax-refunds and called for fiscal prudence and less Federal Reserve money printing, which caused the current turmoil in the first place.
There is an uncanny silence about the Economic Revitalization Plan published by Ron Paul on January 24th. Neither MSM nor the "top tier" candidates have pounced on it as voodoo economics or what-have-you. But it has caught us off guard too.
Some observers draw a darker metaphor, noting that much of what we are seeing now also took place in 1929. As we know, that meltdown was not followed by a happy ending, but rather by a decade of poverty, shantytowns and sporadic famine.
It seems by their actions the leadership and the Fed is finally willing to admit we have a problem, and we need to do something about the economic mess we are in. They are not being honest about the root cause of our impending crisis and want to deal
Bad news means good news on Wall Street -- at least that's the case until after the Fed's next policy meeting. Wall Street is rallying today on the hopes that more ugly housing data will prod the Fed into making another aggressive interest ra
New York Times columnist and Princeton University Economics professor Paul Krugman visits UC Berkeley to discuss the war on Iraq and the American economy. Series: UC Berkeley Graduate School of Journalism presents...
Analysis will show that Bernanke can change interest rates but not attitudes, and attitudes are far more important. Indeed, changes in attitudes will render all of Bernanke's theories about the Great Depression meaningless.
Diana Lee Wolozin, the masseuse who found Heath Ledger's body on Tuesday, is facing felony charges for being an unlicensed massage therapist in New York state.
Europe's Dow Jones Stoxx 600 Index has tumbled as much as 24 percent from a six-year high on June 1. Tumbling equity markets prompted 24 companies this month to halt plans for initial public offerings, the most in at least a decade.
(The U.S. Market will open in a couple of hours to a blood bath, news will focus on more inflation producing efforts by the Federal Reserve to come this week and then Bush will face the nation tonight in his final State of the Union,... interesting d
In the 1930s America had hard scrabble shantytowns known as Hooverville's, and today we have the Bushville.
President Bush wants swift Congressional action on tax cuts to stimulate the economy and broader powers for the government to monitor the communications of suspected terrorists. (We are soooo screwed)
We appear to be in the early phase of a financial earthquake that will get into the history textbooks. The volatility of the American stock market indicates something severe, yet at present is being contained.
US office property sales fell by the largest amount since September 11, 2001 terror attacks in the final three months of last year, raising fear that commercial real estate is heading for a meltdown.
Banks are already coming off one of the worst trading periods in memory, with shares across the industry plummeting 40pc in the past six months.