We're not as immune from the mortgage lending laws that triggered the Global Financial Crisis as we might think.
Bear Stearns' Jimmy Cayne has taken the money and run, writes Glenn Dyer.
Central bankers are very careful people: conservative, stable and above all, realistic. So when they make a move looks like a gamble, you know you should be very worried, writes Glenn Dyer.
Just as Wall Street had its biggest rise in two months, another nasty from the subprime mess is emerging that could cause more headaches for America’s financial groups, large and small, writes Glenn Dyer.
Another cascade of depressing news as more and more financial and other groups are caught up in the imploding US subprime mortgage and housing sectors, writes Glenn Dyer.
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.
Once again the pressure is rising on world financial markets, especially banks and brokerages in the US as reports of losses and warnings about the intensifying pain from the subprime mortgage crisis continue to grow, reports Glenn Dyer.
Citigroup and its CEO, Chuck Prince, are parting company after an agreed deal ahead of a board meeting in New York a few hours ago, a week after Stan O'Neal and the board of Merrill Lynch parted company with Stan walking with $US160 million, writes Glenn Dyer.
The Federal Treasurer got into the banks last week for thinking of lifting interest rates above any move from the Reserve Bank. But was there some truth in what Costello had to say about the banks and their reaction to the subprime mess in the US and associated credit freeze which have pushed up rates?
A falling US dollar has driven oil above $US90 a barrel in after hours trading in Asia this morning, the first time it has reached that level, reports Glenn Dyer.