Category Credit crisis

That’s not a misprint. The foreclosure rate for all Southern California was up 725% over the previous year quarter. It’s happening across the board, for pricey homes as well as small ones. Apparently well-off folks who could have gone with…

Four hedge funds in Australia have banned withdrawals even though they have no subprime exposure and are not margined. They are doing it to protect themselves from a “ripple effect” from the US subprime market.

Major investment banks this week failed to find investors for billions of dollars in loans for the buyouts of Chrysler and the British firm Alliance Boots. Rather than having have made a “bridge loan” until they found investors, they must…

The American dream is overbought and overbuilt. Foreclosure rates are climbing fast everywhere, with Florida being ground zero for the disaster. Image from the Monte Carlo Simulation of CDOs (Part 2), this being the probably faulty way that ratings companies…

The dollar dropped to a record low versus the euro and the weakest in 26 years versus the pound on speculation losses from subprime mortgages will worsen the U.S. economic outlook. Yet Bernanke sees little impact from subprime loan losses.…