Recession fears grow as inventories swell: Unsold goods are piling up in warehouses as the housing meltdown and soaring oil prices strain consumers, raising fears that already glum fourth-quarter growth prospects may tip toward recession.
'Sub-prime black hole is getting scarier' : Blackstone's president warned that the sub-prime crisis on Wall Street was getting "deeper, darker and scarier" yesterday as the US private equity firm posted a loss for the third quarter, hit by a fall in real-estate revenues and charges related to its initial public offering.
Another Money Market Fund Bailout: This Time Bank of America : Yesterday, we reported on a money market fund bailout by Wachovia. Today, Bank of America is reporting that it is bailing out some of its money market funds.
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