World stocks in meltdown over US economy fears: European and Asian stock markets sank on Wednesday, mirroring losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.
Dollar drops sharply vs yen in Asia on worries over U.S. housing loans: The dollar fell sharply against the yen in Asian trading Wednesday as non-Japanese investors sold the U.S. currency to lock in profits amid expectations that subprime mortgage woes will continue to weigh on U.S. shares.
American Home can't fund loans: American Home Mortgage Investment Corp (AHM.N), a large U.S. mortgage provider, said on Tuesday it can no longer fund home loans and may liquidate assets, putting its survival in doubt.
Bear Stearns hedge funds file for bankruptcy protection: Two Bear Stearns Cos. hedge funds heavily exposed to the flagging mortgage industry filed for bankruptcy protection late Tuesday, two weeks after the company told investors one was essentially worthless and the other had lost more than 90 percent of its value.
The Crash of 1929: Are We on the Verge of a Repeat?: Hedge funds have helped create a counterfeit economy that some experts say could lead to another full-blown economic depression.
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