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.
Mortgage securities
Interest will rise as credit freezes over
Forget the election result: it will be great for the winning side. The cold reality on Monday morning will be interest rates and the gradual freezing of credit markets around the world, writes Glenn Dyer.
