Category Credit crisis

Thoughts from Davos

Bill Gates calls for kinder capitalism In a speech at the World Economic Forum in Davos, Switzerland, [Bill Gates] plans to call for a “creative capitalism” that uses market forces to address poor-country needs that he feels are being ignored.…

Carnage in the markets

International markets are down anywhere from 3-6% today, with Dow futures down 350 points. US markets are closed today. Tomorrow, it appears, will be a death ride down.

Mortgage company exec jumps to death

An executive of a collapsed subprime mortgage lender jumped to his death from a bridge Friday. And in related news, check Jim Cramer’s latest, greatest rant, this one about “doomed financials,” an asleep at the wheel regulatory system, and companies…

Bizarre new banking regulation

Banks making sub-prime loans will be required to actually consider the borrower’s ability to pay and confirm a borrower’s income before handing over the money. Now there’s a radical notion. And yes, some banks and mortgage companies are screaming about…