Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and fear. Our leaders irrationally promoted home-buying, discouraged savings, and recklessly...
Nymex Crude Future : $72.56/bl $-1.98 -2.66% 10:38am
LONDON (AFP) — Oil prices slumped further on Thursday, with Brent crude briefly sliding close to 67 dollars a barrel and the lowest level for more than 15 months, as slowing energy demand took its toll, traders said.
NEW YORK -(Dow Jones)- Merrill Lynch & Co. (MER) dodged analyst questions regarding Lehman Brothers Holdings Inc.'s (LEHMQ) bankruptcy exposure.
LONDON (MarketWatch) -- The Swiss government on Thursday became the first to take troubled assets off a bank balance sheet, reaching a deal to absorb up to $60 billion in mostly mortgage-related assets from UBS.
BEIJING, Oct 16 (Reuters) - China Premier Wen Jiabao pledged to help Pakistan overcome its economic troubles, Chinese state media reported on Thursday, although details of the assistance were not disclosed.
The chief executives of the U.S.'s nine largest banks were walked into a conference room at the Treasury Department on Monday and were each handed a one-page document that said they agreed to sell stock to the government.
Updated every 3-5 seconds ( at what time will we break below 8000 today? - 10:21am EST $8467.20 )
Fear and loathing is spreading as signs mount that the economy is in danger of losing its balance. And a fresh batch of economic reports due out Thursday is likely to show more problems for the already stumbling economy.
The "main nerve'' of the American dream runs through this desert metropolis, Hunter S. Thompson concluded in his 1971 book, "Fear and Loathing in Las Vegas.'' Leigh Sogoloff, who spends her evenings lap-dancing at Rick's
The Nikkei 225 Average dropped as much as 10.3% in mid-morning Tokyo trading,... The benchmark was recently down 8.9% at 8699.69, while the broader Topix index shed 7% to 888.50.
The Hang Seng index opened down 1,095.96 points or 6.85 pct at 14,902.34. The Hang Seng China Enterprises index was down 702.35 points or 8.9 pct at 7,191.71.
US Crude oil is down more than 50% from it's all time high of $147.27 per barrel. So why doesn't that decline comprehensively reflect the current price at the pump?
The California Democrat envisions a bill that would include new spending on highways and bridges, extended benefits to unemployed workers, aid to cash-strapped states and a tax cut, congressional aides said.
NEW YORK (Reuters) - Oil tumbled on Wednesday, sliding to a 13-month low on expectations that a deepening economic slowdown will cut into already weakening demand.
As the meeting neared a close, each banker was handed a term sheet detailing how the government would take stakes valued at a combined $125 billion in their banks, and impose new restrictions on executive pay and dividend policies.
The ABCDE&F of propaganda - 8,577.91 -733.08 (-7.87%) Oct 15 - Close
U.S. stocks plunged the most since the crash of 1987, hammered by the biggest drop in retail sales in three years and growing doubt that plans to bail out banks will keep the nation out of a recession.
While explanations of the banking crisis can be long and complicated, this collection will (hopefully) make it simpler to understand from a libertarian perspective.
The gloomy report, prepared ahead of the Fed's October policy-setting meeting and known as the "beige book," shows that regions across the U.S. have taken on a more pessimistic view about the economic outlook.
Investors agonizing over a faltering economy sent the stock market plunging all over again today after a disheartening retail sales report convinced Wall Street that a recession, if not already here, is inevitable.
With alarm bells still ringing about a “credit freeze” it seems as if taxpayers should know exactly what kind of credit they're being asked to un-freeze.
Future impact of Bailouts
Oct. 15 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said government efforts to calm financial markets and stem the credit crisis probably won't result in an immediate economic rebound.
No one will throw you out. After a few months, or years, of living payment free, you will get a call from a motivated government agent eager to adjust your loan into something affordable.
Community banking executives responded with anger to the Bush administration's strategy of investing $250 billion in financial firms, saying they don't need the money. Regulators said banks will be pressed to take the taxpayer dollars anyway.
Gold and the Dow Jones Industrial Average will meet (be at the same number,... Example: $5000/oz of Gold and 5000 Dow Value) when?
October 13th - The Great Depression
Oct. 14 (Bloomberg) -- The Federal Deposit Insurance Corp. expanded deposit coverage as Sovereign Bancorp Inc. became at least the fourth major lender since July to suffer sudden withdrawals amid waning confidence in the banking system.
"It's very good to prop up the asset markets … but many, many other countries have tried to print themselves out of trouble and the end result has been a total collapse of the economy as well as the currency," Saxena warned.