crisis

The deal everyone first expected to happen is now likely to proceed. Wells Fargo is set to buy Wachovia. Earlier this week, we heard that Wachovia was to be acquired by Citigroup, the beleaguered corporate behemoth that has written down…

If you don't think this credit crunch is a Main Street event, you must see this video. When a lack of credit availability stops people from getting an education, you have to do something. For those of you watching the equity markets as a…

Below is a link to the Library of Congress (LOC) website and a few links to the Senate Banking Committee site which have the details on the 'Economic Stabilization' Bill which passed the Senate by a vote of 74-25.The Bill, called H.R.1424…

Below is an article I wrote that appears in this morning's Guardian Newspaper in the UK. The crux of the article is that European politicians need to realise that their banks are not immune from the crisis that has hit the United States and…

The Senate has now passed the bailout bill Economic Patriot Act that the Bush Administration had a heavy hand in crafting. This bill, while better than nothing, is unlikely to alleviate for long the acute problems the financial markets are…

Hansruedi Ramsauer is one of the foremost German-language finance bloggers, writing over at the Swiss site Zeitenwende. In a recent post, he draws attention to the dire state of Swiss banking and calls on Swiss politicians to act now to…

The FDIC has a chronology of the Savings and Loan crisis on its website. I think they do a pretty good job of highlighting all the key points without slanting things for political purposes. See the link at the end of the post for the…

Yesterday, Nouriel Roubini, Professor of Business at New York University and most prescient prognosticator of the bubble, gave an interview to Bloomberg Radio. This is one of the most comprehensive interviews I have heard him give. It is…

The next time you hear someone say that things are worse than the Great Depression now, do me a favor and smack them upside the head for me, please. This is the kind of nonsense you hear nowadays and we need to dispel these myths right…

Everyone's dancing and cheering now that the bailout has been rejected. So, as Ice-T used to say, "Bust the cork on the Moët!" (image via Flickr).The market's up 500 points and all is well and swell. The guys over at Lombard Street Research…