Word: crunches
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...issue is not one of liquidity but one of solvency," says Richard McGuire, a strategist at RBC Capital Markets in London. "It's not the cost of money but the unwillingness of banks to lend to one another owing to uncertainties ... that is the root of the credit crunch." That is, the Fed can drive down interest rates all it wants, but if lenders are charging their clients and one another much higher rates or are refusing to lend at all, you've still got a credit squeeze...
Record home foreclosures and a worsening credit crunch have voters looking for help. The economy is near the top of every campaign agenda, even though none of the candidates have ever balanced a state budget or run a company. No President can magically fix what ails this economy, but White House policies--on taxing and spending, trade and regulation--will set the stage for recovery. Here's where the candidates stand on five key issues: [This article contains a table. Please see hardcopy of magazine.] DEMOCRAT Hillary Clinton DEMOCRAT Barack Obama REPUBLICAN John McCain 'I would take immediate, comprehensive action...
James Cayne Traders like Bear Stearns, led by ex-CEO Cayne, loaded their balance sheets with assets of untested value. When forced to calculate true worth, writedowns followed. Wary firms stopped lending to each other, causing a liquidity crunch...
Worldwide credit crunch? Faltering stock markets? Oil at $110 a barrel? Mere trivialities for the $25 billion yacht industry. Annual sales over the past five years have grown 10% to 15% and show no signs of tanking, thanks to increasing numbers of wealthy buyers from developing countries. In the fiscal year ending September 2007, Sunseeker's sales jumped 18.5%, to $473 million. And other yachtmakers are enjoying similar returns. Italy's Ferretti, for example, saw its production value jump 21% last year, to $1.37 billion...
...read all about the combined woes afflicting the economy: the credit crunch, the subprime mortgage crisis, the housing slump. Things are bad out there, especially when the Federal Reserve has to intervene and rescue the financial markets from chaos, helping JPMorgan Chase buy collapsing investment bank Bear Sterns for a mere $2 a share. But even in the toughest times, some businesses and banks come...