Category Credit crisis

Nouriel Roubini says we’re heading for a severe recession, probably two years long, with unemployment rising to 8.5%. We could also see stagdeflation, a sluggish economy and falling prices. Hundreds of hedge funds will go out of business, and dump…

Mac Uaid Rupert Murdoch’s evil empire is offering a chance to say if you think Marx was right. Vote in the [UK] Times poll here. Surprisingly, as I write this, the votes are equally split…

The FDIC is looking for 200,000 square feet of office space and 600 employees in southern California to liquidate the assets of failed banks in the southwest.

Slicing and dicing mortgages into bizarre investment products into CDOs, then buying and selling bogus insurance on them in the form of Credit Default Swaps apparently wasn’t enough… Nope, they had to go and create synthetic CDOs, in which the…

Wal-mart: Scenes from the economic front lines. They report that shoppers are using less credit and spikes of purchases occur around pay periods, including purchases of baby formula. Fed offers $540bn to prop up money funds. This makes me a…