The Financial Times summed up the mood nicely in a headline on its website on the weekend: “Gloom envelopes world markets.” And there’s more to come, despite the BHP Billiton stalking of Rio Tinto, writes Glenn Dyer.
Losses
Bernanke warns of darkening days to come
Inflation is on the rise, the subprime mess will worsen, along with the housing crunch, and the losses and damage from both will be worse than anyone expects. A US recession? Don’t want to say. Glenn Dyer reports.
Golden goodbye for Merrill Lynch CEO as subprime fallout continues
Turning failure into incredible wealth is just another example of how Wall Street’s big financial groups refuse to do what they insist others must do, writes Glenn Dyer.
The global cost of the subprime crisis continues to rise
The cost of the subprime crisis continues to mount around the world, not just on Wall Street. To date, the total cost stands at around $US50 billion and rising, writes Glenn Dyer.
Basis Capital seeks bankruptcy protection for crippled Alpha Fund
Basis Capital, the banished finalist from this week’s Standard & Poor’s Fund Manager of the Year awards, has filed for bankruptcy protection in the US for its Basis Yield Alpha Fund.
Inside our credit shock: RBA man tells
Overnight on August 9/10 and during the morning of August 10, Australia experienced a very sharp credit shock, not as bad as Europe had seen the night before, or the US, but a shock nevertheless. Here’s RBA deputy governor Ric Battelino told a Sydney conference today in a speech.
Macquarie Fortress besieged by subprime problems
If you’d woken up on Monday morning and wondered, “what will we see in the financial markets this week, more subprime problems?” you’d have been right, writes Glenn Dyer.
