It’s almost officially a bear market
A bear market is defined as a 20% drop from the high and with today’s close in the Dow we are a mere .01% from that. The trading floors are alive with the sounds of growly bears and there is…
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Category Credit crisis
Credit Markets: “It’s never been this bad.”
Parts of the credit and mortgage markets today were “offered-only.” That means there were no buyers. None. These markets are different from the highly liquid NYSE and NASDAQ where there is always a buyer for every seller and a seller…
More pain for the financials
Moody’s downgraded two bond insurers yesterday, Ambac and MBI. In the bizarro world that is bonds, a bond rating is dependent not on its own financial strength, but on the rating of the insurer. So, a downgrade on the insurer…
“Crisis of capitalism is upon us”
So says, not a Marxist, but a financial analyst at a large institution, who also opines that British banks are acting like street thugs.
Wobbly financial institutions
Washington Mutual, Downey Savings and Loan, Corus, IndyMac, Wachovia, and Lehman Brothers are all currently being cited as having severe, maybe extreme financial problems. Might want to check where your money is.