Student Loans Start To Bypass 2-Year Colleges
Some of the nation's biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive insti...
Credit Crisis
U.S. Economy Huge Winner in Future
Diane Francis | Posted 05.30.2008 | Business
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Energy,
U.S. Economy,
Low Interest Rates,
U.S. Employment,
Subprime Mortgage Crisis,
Commodity Price Increases,
Banks,
U.S. Dollar,
Credit Crisis,
China,
U.S. Recession,
Business News
As financials struggle, the Fed's interest rate cuts have weakened the dollar even more, which greatly benefits exporters and multinationals. For most, the credit meltdown is only starting.
How To Avoid Getting Squeezed By Credit Card Companies
CNN Money | Jessica Dickler | Posted 05.27.2008 | Business
...
Is Paul Volcker Right? Not This Time
Jeff Madrick | Posted 05.20.2008 | Business
Read More:
The Federal Reserve,
The 1970s,
Ben Bernanke,
Richard Nixon,
Inflation,
Paul Volckjer,
Consumer Price Inflation,
Credit Crisis,
Business News
Given the depth of the credit crisis and the ongoing fall in house prices, there is a far bigger risk of worldwide economic cataclysm than there was in the 1970s.
Wave Of Lawsuits Over Mortgage Crisis May Struggle To Win Damages
New York Times | JONATHAN D. GLATER | Posted 05.07.2008 | Business
Read More:
Credit Crisis Lawsuits,
Credit Crisis,
Mortgage Crisis Lawsuits,
Mortgage Crisis,
Business News
Finding someone to sue over losses in the mortgage market and the credit crisis is easy. Winning in court, lawyers say, will be hard. Shareholders in...
What Can Still Tank the Economy? The Bush Administration Hearing No Evil, Seeing No Evil
Jeff Madrick | Posted 05.07.2008 | Business
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Henry Paulson,
Recession,
Credit Crisis,
Tom Sargent,
Case-Shiller Index,
Milton Friedman,
Barney Frank,
Barney Frank Plan,
Business News
The Barney Frank mortgage plan isn't perfect. But the Bush administration should be talking about improving the plan, not resorting to ideological nonsense about minimal government interference.
Why an Economic Turn for the Better? It's Government, Stupid.
Jeff Madrick | Posted 05.02.2008 | Business
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George Bush,
Federal Reserve,
Jobs,
Recession,
Credit Crisis,
Inflation,
U.S. Economy,
Economy,
Ben Bernanke,
Business News
Government made the difference so far. It must go further. It is the end of the age of Milton Friedman.
Bush on the Economy: Too Bitter, Too Late
Jeff Madrick | Posted 04.30.2008 | Politics
The real problem with the economy, Bush tells us, is that America doesn't drill for enough oil. It is the oil company mantra, of course, and Bush is an oil company guy.
Apologia, Papal and Other
Nina Burleigh | Posted 04.19.2008 | Living
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Supreme Court,
Iraq War,
Bill Clinton,
Monica Lewinsky,
Nancy Pelosi,
Credit Crisis,
President Bush,
Pope Benedict XVI,
Dick Cheney,
Living News
An expression of regret can begin the process of re-constructing trust in the once mighty man-made institutions that have been brought low by individual men (and women).
Notes From An Investor: Is The Worst Over?
Vince Farrell | Posted 04.17.2008 | Business
More big names are adding their voices to the growing chorus of opinion that the worst of the credit crisis is behind us. In addition to the heads of ...
On The Eve Of A Recession, Do You Know Where Your Money Is?
Pauline Millard | Posted 04.16.2008 | Business
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Taxes,
Investing,
Irs,
Money,
Refunds,
Accountants,
Credit Crisis,
Foreclosure,
Fiscal Responsibility,
Financial Knowledge,
Cpas,
Business News
I woke up on April 11th and didn't find my $1,700 refund in my checking account. It seems that George, my new accountant, put the wrong bank routing number on the return, and my cash is currently sitting in limbo between the IRS and the Bank of America.
Euro Nears Record $1.60 Mark
Financial Times | Peter Gamham | Posted 04.16.2008 | Business
Read More:
Credit Crisis,
Eurozone Inflation,
Euro Dollar,
Euro Dollar Conversion,
Eurozone,
Euro,
Euro Inflation,
European Central Bank,
Business News
The euro hit a record high against the dollar and the pound on Wednesday after data showed eurozone inflation hits its highest level since the introdu...
Hank Paulson: 2008 To Be A Difficult Year
Thomson Financial | Posted 04.12.2008 | Business
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Crisis,
Hank Paulson 2008,
Henry Paulson,
Credit Crisis,
Hank Paulson,
Henry Paulson Wall Street,
Subprime Mortgage Crisis,
Business News
US Treasury Secretary Henry Paulson today warned that the US economy is not yet out of trouble, and said the combination of the housing correction, fi...
Alan Greenspan: A Bad Offense is a Bad Defense
Jeff Madrick | Posted 04.09.2008 | Business
Read More:
Regulation,
Credit Crisis,
Responsibility,
Asset Bubbles,
Andrew Smithers,
Henry Kaufman,
Alan Greenspan,
Business News
Alan Greenspan took to the pages of The Financial Times and the Wall Street Journal to defend his legacy this week. He didn't salvage it.
IMF Predicts Mortgage Crisis Could Cost $1 Trillion
International Herald Tribune | Posted 04.08.2008 | Business
Read More:
US Economy,
Credit Crisis,
$1 Trillion Mortgage Crisis,
Trillion Dollar Mortgage Crisis,
IMF Mortgage Crisis,
Economic Crisis,
Mortgage Crisis,
IMF Credit Crisis,
Business News
The International Monetary Fund said Tuesday that financial losses stemming from the U.S. mortgage crisis might approach $1 trillion, citing a "collec...
Morgan Stanley's Mack Sees End of Crisis
AP | JOE BEL BRUNO | Posted 04.08.2008 | Business
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Investment Banks,
Morgan Stanley Mack,
Credit Crisis,
Recession,
John Mack,
Morgan Stanley,
Wall Street,
Business News
PURCHASE, N.Y. — Morgan Stanley Chief Executive John Mack said Tuesday that Wall Street is facing the most difficult conditions that he has seen...
What Does Recession Mean? It Means Economic Suffering
Jeff Madrick | Posted 04.08.2008 | Business
Read More:
Credit Crisis,
Lost Jobs,
Stimulus,
Inflation,
Wages,
Recession,
The Meaning of Recession,
US Economy,
Bush Economy,
U.S. Economy,
Low Wages,
Recession Salary,
Economy,
Salary,
Recession Wages,
Business News
What to remember about the silly debate over the nomenclature is that recession affects most of us. The median American wage in 2010 could very well be what it was in 1995 or 1996.
Poll: 81 Percent Of Americans Think Country On "Wrong Track"
Reuters | Posted 04.04.2008 | Business
Read More:
Mortgage Crisis,
Credit Crisis,
Recession,
U.S. Economy,
Gloomy Outlook,
Economy,
Business News
Four out of five Americans believe things are "on the wrong track" in the United States, the gloomiest outlook in about 20 years, according to a New Y...
Jobless Claims Highest Since Sept. 2005
AP | JEANNINE AVERSA | Posted 04.03.2008 | Business
Read More:
Credit Crisis,
Unemployment Benefits,
Labor Department,
Unemployment,
Job Cuts,
Financial Crisis,
Business News
WASHINGTON — The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh ...
It Sure Looks Like We're In a Recession
Hale "Bonddad" Stewart | Posted 04.03.2008 | Business
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Economy,
Subprime Crisis,
Economic Recession,
Subprime Mortgage Crisis,
Mortgage Crisis,
Recession Fears,
Financial Crisis,
Federal Reserve,
2008 Recession,
Credit Crisis,
Ben Bernanke,
Recession Watch,
Bernanke Testimony,
Housing Crisis,
Recession,
U.S. Economy,
Business News
Putting all of the factors together we get a very disturbing picture. The amount of short-term credit is decreasing and the cost of making these loans is increasing.
Wall Street Shows Optimism That Crisis Is Fading
New York Times | MICHAEL M. GRYNBAUM | Posted 04.01.2008 | Business
Stocks started the second quarter with a soaring rally on Tuesday that sent the Dow Jones industrial average up nearly 400 points, its best performanc...
Weak Economy Forces Elderly To Delay Retirement
Wall Street Journal | Jennifer Levitz | Posted 04.01.2008 | Business
Read More:
Retirement Benefits,
Credit Crisis,
U.S. Economy,
Elderly Americans,
Weak Economy,
Delaying Retirement,
Recession,
Retirement,
Real Estate,
Poor Economy,
Aging Americans,
Housing Slump,
Business News
As the falling real-estate and stock markets erode their savings, many aging Americans are delaying retirement, electing labor over leisure in uncerta...
UBS Will Write Down $19 Billion
AP | ONNA CORAY | Posted 04.01.2008 | Business
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German Banks,
Credit Crisis,
Marcel Ospel,
Subprime Mortgage Crisis,
Write-Downs,
Swiss Banks,
UBS Write-Downs,
Subprime Mortgages,
U.S. Real Estate,
Ubs,
Business News
ZURICH, Switzerland — UBS AG's chairman abruptly resigned Tuesday as the Swiss bank reported a first-quarter loss of $12.1 billion and said it w...
The End of the Age of Milton Friedman
Jeff Madrick | Posted 03.31.2008 | Business
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Deregulation,
Henry Paulson,
Credit Crisis,
Milton Friedman,
Hyman Minsky,
Adam Smith,
Keynesian Economics,
Bush Economy,
Friedrich Van Hayek,
Bill Clinton,
U.S. Economy,
Economy,
Business News
There is a direct line from Milton Friedman's ascendancy in the 1970s to the debacle on Wall Street today.
Fierce Regulation Debate Expected
AP | MARTIN CRUTSINGER | Posted 03.30.2008 | Business
Read More:
Finance Overhaul,
Investment Banks,
Credit Crisis,
Hank Paulson,
Government Regulation,
Recession,
Henry Paulson,
Financial System,
Bear Stearns,
Ben Bernanke,
Investment Houses,
Great Depression,
Business News
WASHINGTON — In proposing the broadest overhaul of financial oversight since the Great Depression, the Bush administration has kicked off a fier...
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