Category Credit crisis

Jefferson County in Alabama, where Birmingham is, wants Wall Street creditors to ease the conditions of their financial swaps in a desperate attempt to avoid bankruptcy. While it seems that some stinky stuff might have gone on here, the real…

Up to 20% of venture backed startups may have been convinced by their financial advisors to put much of their spare cash into something called Auction Rate Securities, on the promise of money market-like liquidity with better returns. Now, that…

It was triggered by the Fed saying they’ll sell $200bn of t-bills on a short-term basis, using as collateral the toxic sludge banks and hedge funds can’t sell. Thus, the Fed is acting like a pawnshop, except the collateral is…

The fine folks at the implode-o-meter sites have been keeping track of companies that have imploded during the ongoing credit crisis. Mortgage Lenders. 236 since late 2006. Home builders. 22, since late 2006 (“plus 15 additional tiny implosions”) Hedge funds.…

Marc Slavin of the Arizona Short Sale Office says his company has been to neighborhoods where nearly every house is vacant. It’s happening in NYC and Cleveland too, as well as many other areas too.