Category Credit crisis

Maybe [Chairman of the Fed Bernanke] is seeing the light that capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.– James Grant, the editor of Grant’s Interest Rate Observer, in the NY…

From the gifted pen of Jim Kuntsler Sooner or later, though, millions of shlubs dependent on pension checks, or annuities, or monthly payouts of one kind or another will notice that something has stopped landing in the mail box. Re-po…

Private equity companies that bought out public companies like Chrysler now need immediate cash because of the credit crisis. This does not bode well for the employees of those companies. It seems that private equity funds (I also call them…

Subprime crisis forces cuts in economic growth estimates Credit crisis bleeds into retail Bank of China, the second largest bank inChina, reports heavy subprime exposure, $9.7 billion. Gosh, wasn’t all this supposed to be contained? That’s what the talking heads…

And the “housing slump” will have been the trigger. This will impact everyone. Rich, poor, left or right. That’s why I’ve been blogging about it. The social, economic, and political repercussions of the coming recession will be felt for years.…