Gas prices hit new high, seen jumping more...
International experts foresee collapse of U.S. economy: Dr. Nouriel Roubini of the New York University's Stern School of Business, who, in 12 steps, outlines how the losses of the American financial system will grow to more than $1 trillion - that's one million times $1 million. That amount is equal to all the assets of all American banks.
Banks face "systemic margin call," $325 billion hit: JPM: Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co (JPM.N: Quote, Profile, Research), said in a report late on Friday.
Hedge funds wither as banks call their bluff: Remember how the investment banks recently wrote off $140bn in loans linked to the sub-prime mortgage debacle? Well you ain't seen nothing yet, if last week's margin calls on hedge funds are anything to go by.
U.S. Consumer Borrowing Rose, Led by Credit Cards : Consumer credit increased by $6.9 billion to $2.52 trillion, the Fed said today in Washington. In December, credit gained $3.7 billion, less than a previously reported increase of $4.5 billion. The figures don't include borrowing secured by real estate, such as home-equity loans.
New 'super-spike' might mean $200 a barrel oil: Goldman now sees average selling prices of $95 a barrel for 2008, $105 a barrel for 2009 and $110 a barrel for 2010. The high end of its range is now $135 a barrel -- but Goldman hinted that prices could be headed even higher.
US job numbers support recession fears: The United States suffered a bigger-than-expected decline in jobs numbers last month, data showed today, which prompted analysts to say the world's largest economy was now in recession.
Employers Slash Jobs by Most in 5 Years: Employers slashed 63,000 jobs in February, the most in five years and the starkest sign yet that the country is heading dangerously toward recession or is in one already.
Home foreclosures hit record high: Home foreclosures soared to an all-time high in the final three months of 2007 and probably will keep rising, evidence of homeowners' suffering and the economic danger from the meltdown.
Fed Takes New Steps To Add Cash To Banking System: The liquidity injections are designed to give banks more capital and confidence to lend money to their customers and to each other. Lending is the grease that turns the wheels of the economy. The Fed is worried that a credit crunch would only make the economic downturn worse.
Gasoline Prices Hit New High - More Coming
FDIC Reports Second Bank Failure Of 2008
Countrywide Faces Criminal Inquiry
Bernanke On Mortgage Market House Of Cards
US Foreclosures Rise As Owners Give Up
$200 Oil 'Super-Spike' On Horizon?
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