Eulogy For The "Ownership Society"
By Mike Whitney
The fact remains that the two biggest mortgage-lenders in the world are busted and last week's stock sell-off was tantamount to a run on the country's largest bank. Paulson's statement was really nothing more than a eulogy for the mortgage industry; a few heartfelt words over the rigid corpse of a close friend. Continue
US Faces Global Funding Crisis, Warns Merrill Lynch
By Ambrose Evans-Pritchard
Merrill Lynch has warned that the United States could face a foreign "financing crisis" within months as the full consequences of the Fannie Mae and Freddie Mac mortgage debacle spread through the world. Continue
'Massive potential' for global 'financial meltdown': Confidence falls in U.S. authorities' ability to ease financial panic
No comments:
Post a Comment