Category Credit crisis

From Naked Capitalism (and indeed, it doesn’t get much more naked, greedy, and self-serving than this.) Gretchen Morgenson in the New York Times reports that Goldman and no other Wall Street firm was involved in the AIG rescue talks and…

John Robb says local communities need to act now to delay or eliminate foreclosures, else the coming tsunami of foreclosures triggered by the financial crisis will create crime-ridden ghost towns and the collapse of local governments. He cites a Philadelphia…

Calculated Risk sums up in a few brief sentences what the precise problem is. Only people who truly understand the problem can make it this clear. The credit markets are in severe distress and we can see evidence of this…

Clusterstock, a financial blog, was not impressed “They were protesting everything. There were guys with petitions against the war. A lady who opposes breast cancer. Who doesn’t oppose cancer?” our correspondent Brian Van Nieuwenhoven told us. He described the protesters…

Assembly Bill 1830 would have barred brokers and lenders from making false statements and steering borrowers to high-cost loans. He vetoed it because it only applies to state entities, not federal. Thus, not being able to make false statements would…