Just when everyone was wondering if the US Federal Reserve’s 0.50% rate cut would do the trick and start stabilising the crisis-ridden US economy, ratings agency, Standard & Poor’s, delivered a bombshell, writes Glenn Dyer.
Collateralized debt obligations
Goldman Sachs: The smartest bank in the room
As Merrill Lynch last night announced a write-down of at least US$15 billion (and a quarterly loss of US$9.8 billion), several commentators have looked deeper into the bizarre situation at Goldman Sachs, and their miraculous avoidance of the sub-prime meltdown, writes Adam Schwab.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
