Word: mortgagee
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But bad news may not be over on Wall Street. On Tuesday, Bank of America announced that its fourth-quarter profit tumbled 95%, largely due to a $5.44 billion trading loss driven by write-downs of collateralized debt obligations, the often mortgage-related securities creating havoc on banks' balance sheets...
In London, you could almost smell the panic. "There's an acrid stench of fear," says David Buik at London brokers BGC Partners. The list of those investors' worries is growing. Despite a $150 billion package of tax cuts and other economic stimulus unveiled by President Bush last Friday, a...
Amid such a "serious credit crisis," says Buik, stock markets will only remain immune to genuine credit market volatility for so long. But the plunging share prices offered another kind of correction: that growth in Asia isn't enough to protect its markets against the effects of a U.S. recession...
Florida will also test their messages in a different way. It is the biggest, most diverse battleground they have encountered. The state also is feeling increasingly anxious about the economy, suffering from the subprime mortgage meltdown, an insurance crisis and a 49% surge in the number of unemployed in 2007...
There's a lot to feel down about this month: the subprime mortgage crisis, stormy, unpredictable weather, rising gas prices, presidential primary free-for-alls. So, it would be easy to believe the theory set forth by Dr. Cliff Arnall, a researcher from Cardiff University, that the third Monday of...