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Credit squeeze hits high-rises (Las Vegas Review-Journal)
One problem facing potential buyers into condo-hotels is the units are worth less today than when contracts were signed, the Deutsche Bank report shows.
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Mortgage crunch takes toll on bystanders (Reno Gazette-Journal)
Buffy Martin Tarbox said she's done everything right.
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Would it be so bad if football here did go bust? (Daily Mail)
The only crash heard in Premier League boardrooms used to be when someone dropped a tray of prawn canapes. Football is suddenly different. It's like watching a video of Max Mosley with a blindfolded dominatrix. You know the bottom is going to be hit at some point, you're just not quite sure when.
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Obama maps rescue for middle-class U.S. (The Toledo Blade)
Democratic presidential nominee Barack Obama called for a business tax credit to create new jobs and a 90-day moratorium on home foreclosures at a political rally in downtown Toledo yesterday — part of what he called a middle-class rescue plan from an economic downturn he said is the worst since the Great Depression. He said some parts of the plan should be implemented immediately, and if not, ...
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Banks trim prime rate as Ottawa offers mortgage relief (CTV British Columbia)
Canada's big banks are lowering their prime lending rates in response to an announcement Friday that the federal government will buy $25 billion worth of mortgage debt to help free up credit markets.
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Dow futures climb almost 350 after horrible week (AP via Yahoo! News)
Wall Street headed for a huge rebound with the Dow Jones industrial average futures up 344, or 4.1 percent, to 8,714. Standard & Poor's 500 index futures rose 45.10, or 5.06 percent, to 936.10. Nasdaq 100 index futures rose 56.50, or 4.41 percent, to 1,339.00.
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How Uncle Sam's New Financial Plan Will Affect Consumers (US News & World Report)
The injection of capital into banks raises insurance limits and encourages lending.
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Obama's proposals focus on jobs, homes (Pittsburgh Post-Gazette)
TOLEDO, Ohio -- Democratic presidential candidate Barack Obama called for a business tax credit to create new jobs and a 90-day moratorium on home foreclosures at a political rally in downtown
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The Cause of the 2008 Financial Crisis (Accuracy In Media)
As someone who spent the majority of his life as an international bank analyst and executive, I learned, that to fix a problem, one needs to understand what caused it. It can be difficult to see because sometimes it takes time for the effects of bad decisions to manifest themselves.
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The financial crisis rescue plan: What is it, will it work? (The Shamokin News-Item)
We’re witnessing an almost unprecedented time in the U.S. The news has been dominated by dire headlines, and now the government is stepping in to help restore credit. The recent events have been an enormous shock to our economy. We often say corrections in the market are normal, but there was nothing at all normal about the following:
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