ON AIR NOW
Click to Play
Bitcoin Cash: $ USD
News Link •
Global
Don’t you wish the government would grant you unlimited liquidity? When it comes to the food and fuel bills of the poor and the working class, the British and American governments find that the cupboard is bare. But now it’s not bare.
News Link •
Global
PLATINUM group futures led a decline in precious metals overnight as funds abandoned the sector amid a drop in crude oil prices to a new five-month low.
News Link •
Global
"[The Lehman] base case assumes national home prices drop 32% peak to trough, vs. 18% to date, with California down 50% vs 27% to date." Ian T. Lowitt, Lehman CFO
News Link •
Global
The 2008 election has many unusual aspects, but none is more bizarre than the sorry spectacle of the bailout for Fannie Mae and Freddie Mac. American voters are like the lambs being led to slaughter and at the very height of the presidential campaign
News Link •
Global
So-called experts have filled the minds of most Americans with many economic myths that are constantly reinforced by the media and repeated on the streets. An examination of the most common myths and the reality.
News Link •
Global
A weak economy and a sharp increase in government spending will drive the federal budget deficit to a near-record $407 billion when the budget year ends later this month, and the next president is likely to face a shortfall in January of well over $5
News Link •
Global
The unusual steps come after speculation negotiations with Korea Development Bank broke down, causing shares of Lehman Brothers to plunge 45%! Puts Lehman's market value at just $5.4 billion, down from $36 billion just one year ago
News Link •
Global
Stocks tumbled Tuesday, nearly erasing the previous session's big gains, after fresh concerns about the stability of Lehman Brothers punctured a sense of optimism about the financial sector. Each of the major indexes lost more than 2%.
News Link •
Global
The bailout triggers settlement of $1.4 trillion in unregulated credit-default swaps. Do the hedge funds have the money?
News Link •
Global
The industry body, International Swaps and Derivatives Association, said on Monday it would launch a protocol to facilitate settlement of credit derivative trades involving Fannie Mae and Freddie Mac
News Link •
Global
Massive credit derivative payment triggered by Fed seizure of Fannie Mae and Freddie Mac
News Link •
Global
This explicit promise by the Treasury to bail out GSEs in times of economic difficulty... is a promise on behalf of the government to engage in a huge unconstitutional and immoral income transfer from working Americans to holders of GSE debt.
News Link •
Global
The federal takeover of mortgage giants thrusts trillions of dollars of risk directly onto taxpayers' shoulders. "You can call it a bailout, you can call it a safety net, you can call it a rescue package, but the bottom line is the taxpayer
News Link •
Global
Even though the [Asian] stock markets are over the moon as of this hour, the all-important question is the reaction in the credit markets. It is far less enthusiastic. One might charitably call it underwhelmed.
News Link •
Global
Banks borrowed more over the past week from the Federal Reserve's emergency lending program, while Wall Street firms took a pass for the fifth week in a row.
News Link •
Global
The Treasury-FHFA plan, which was widely anticipated after financial markets closed on Friday, drew praise from regulators, lawmakers and some market experts. [really, dissent was impossible to find?]
News Link •
Global
Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles.
News Link •
Global
[What government agency skulks about doing its work in darkness on weekends?] Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart: Government seizes control of GSEs
News Link •
Global
Treasury Secretary Henry Paulson [who just a few weeks ago said this would never happen] and two other regulators are working on a plan to put the troubled mortgage finance companies into a conservatorship, and remove Fannie Mae CEO
News Link •
Global
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's
News Link •
Global
[Seriously, who didn't see this one coming when Andrew McCain resigned on a Saturday?]
News Link •
Global
This home has seen $260,100 in equity evaporate from the peak. With that amount, you can buy 2 of this same home and have enough to buy a hybrid. How quickly things change.
News Link •
Global
Home price declines are already approaching those in the Great Depression, when they plunged 30% during the 1930s. With prices already down almost 20%, it's not a stretch to think we might exceed that drop this time around.
News Link •
Global
Troubled by the Bear Stearns debacle, former Federal Reserve Chair is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial stability.
News Link •
Global
The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.
News Link •
Global
The [jobless] data, combined with a call by the manager of the world’s biggest bond fund for the Government to inject more money into the banking system, spooked US investors already jittery about the outlook for the global economy. Bill Gross,
News Link •
Global
Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.
News Link •
Global
US government-brokered overseas arms sales are expected to total about $34 billion in the current fiscal year, up more than 45% from the year before, the Pentagon agency in charge said. "Our program is growing by leaps and bounds,"
News Link •
Global
Commodity market regulators are probing whether energy market players are injecting false crude oil supply data into the marketplace. They are concerned companies may be reporting inventory levels that benefit their own trading positions but are not
News Link •
Global
On Sept. 2, 2008, a plan was approved that included closing all 200 GMAC Mortgage retail offices, ceasing originations through the Homecomings wholesale broker channel, further curtailing business lending and international business activities
