Category Credit crisis

Lenders are foreclosing homes in southern California much faster than they can sell them, leading to an oversupply that will, sooner probably than later, force substantial price drops. Falling prices will then trigger more foreclosures. Right now, lenders don’t want…

Deserted swimming polls in foreclosed or vacant homes that aren’t selling are breeding grounds for mosquitoes, and that means a heightened risk of West Nile Virus.

Right here. So far, 11 hedge funds have cratered. Check back often, there will be more. Brought to you by the fine folks who created the Mortgage Lender Implode-o-Meter (116 so far, and grizzled old timers like myself can remember…

The Fed was wrong, says Bloomberg, and so was everyone else who said the subprime crisis was contained. The subprime mortgage industry’s problems were contained, they all said. It turns out that the turmoil was contagious. Washington Mutual, a major…

Hello there, trillion-dollar derivative debt markets. If in a couple of years time I’m writing a book called The Crash of 2007, the first chapter is going to be about how these marvelous new debt instruments ended up making a…