Category Credit crisis

The Fed along with Canadian and European Central Banks are flooding financial markets with money trying to drive down interest rates and provide liquidity. The European intervention was their largest ever, $130 billion. Calculated Risk has more. From the comments…

Jim Kunstler, writing on Monday. One can only imagine the number of cell phone minutes racked up this weekend out in the Hamptons by players trying desperately to finagle their way out of the brutal fact that their firms and…

My wife Sue read my Jim Cramer meltdown AKA Armageddon post yesterday and jokingly (I think) said, “Armageddon is coming? We need to stockpile food, head for the hills, and buy gold and sit on it until it hatches.” When…

Jim Cramer of theStreet.com spoke last week about the spreading subprime-triggered disaster in the financial markets. Actually, he didn’t speak. He ranted and yelled saying he, a former hedge fund manager, is currently getting dozens of calls a day from…

Comments from readers of Housing Bubble Blog “Wells Fargo just raised the interest rate on their jumbo mortgage to 8% this morning. Last week the rate was 6.78%.” A jumbo is any mortage above $417,000. As an example, let’s say…