Word: pricing
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...Gold price Per troy ounce, in 2008 dollars...
...STOCK-MARKET CRASH In the months after Black Monday, gold reaches its highest price in five years...
...Federal Reserve Chairman Ben Bernanke, desperate to avoid a sudden collapse that might cause a full-fledged market panic, invoked a little-known 1930s legal provision to engineer a Sunday fire sale of Bear Stearns to banking giant JPMorgan Chase for a mere $2 a share. (Bear's stock price was $57 a week before, $171.51 in early...
...speculative bubble in housing reached its peak in the summer of 2006. As of last December, house prices were down 10.2% from that peak, according to the S&P/Case-Shiller National Home Price Index, and are still falling. Defaults are way up, and with the collateral behind even formerly sound home loans losing value by the day, defaults will surely keep rising...
Nevertheless, all those mortgages that started the problem are still worth something. House prices are headed downward, but they're not headed to zero. What turned a simple price decline into a crisis that killed Bear Stearns was the way many financial firms (hedge funds and investment banks, especially) generate their profits: by making bets with borrowed money. To borrow that money, they have to put up collateral--for example, mortgage securities. Lately, many firms have been simultaneously beset by bets gone bad and skittish lenders' calling in loans or demanding more collateral...