The US Government buyout fund will do nothing to help end the root cause of the problems faced by the US economy, writes Glenn Dyer.
Subprime
The Subprime Crisis: An incomplete timeline
Some key moments in the history the worst global financial crisis since the Great Depression. Compiled by Thomas Hunter.
Briefly Business: China, FBI investigations and the most embarrassing moment of the week
Chinese markets continue to implode … FBI gunning for subprime fraudsters … And most embarrassing moment of the week.
Banks want all the blame, none of the responsibility
The world’s biggest banks and financial groups are trying to offer a deal to regulators by accepting blame for current economic problems, in exchange for no tightening of the rules and laws controlling banks and banking, writes Glenn Dyer.
Are highly leveraged homeowners about to crash?
Australian home buyers are living in some sort of fool’s paradise if they think that the affluent Sydney, Perth and Melbourne property markets are indestructible, writes Adam Schwab.
Florida state fund joins the sub-prime hit list
It may not be Citigroup, Bank of America or Merrill Lynch but, in terms of impact, Florida’s Local Government Investment Pool has become one of the biggest casualties of the subprime disaster so far, writes Glenn Dyer.
Here we go: Bank of England rescues lender
Just when you thought it was becoming safe to go back into a bank, whoosh, a big one bites the dust. Northern Rock, Britain’s fifth biggest mortgage lender has been rescued by the Bank of England in a dramatic late night move.
