Category Credit crisis

Bank crisis gaining steam. More banks are on the troubled list. “The deterioration of banks is accelerating.” Unintended consequences. UK property owners, faced with a new tax on unoccupied rental buildings, are having the buildings demolished. They can’t rent them…

Robert Reich Any day now — perhaps any hour — the plug will be pulled on Fannie Mae and Freddie Mac, and a massive government bailout will ensue. Together, they’ll become the largest government-owned entities in American history, and, once…

The LIBOR, the interest rate that large financial institutions charge each other for short-term loans, is widening over the treasury rate. This indicates severe stress in the system and that more pain is coming. “The suspicion is that banks are…