Category Credit crisis

From the fine folks who brought us Mortgage Lender Implode, Hedge Fund Implode, and Home Builder Implode comes the big dog, The Bank Implode-o-Meter

January real estate sales in southern California were down 25% compared to December 2007 and down 50% from Jan. 2007. Thus, the market there is getting worse, and rapidly too.

Major insurance company AIG said yesterday they can no longer quantify what their credit default swaps are worth, this after their auditors concluded there was “material weakness” in the way AIG was doing their valuations. Sounds like the early days…

Just as real estate prices might start normalizing by 2010 or so, more downward pressure will hit the market, according USC researchers. By then, large numbers of baby boomers will start retiring, and will be selling their homes. Thus, in…

Naked Capitalism blogs about “the dumping of leveraged loans at distressed prices” as reported by the Financial Times, a story not yet picked up here in the States. The credit markets expect another leg down of economic activity, while the…