It is extremely sad to see the way the underemployed are not even considered in the evaluation of the health of our economy.
Once upon a time, a million dollars used to be the one amount you had to obtain to be considered rich. That is not the case anymore; in fact, a million dollars will just get you out of the "working middle class" category.
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Could this be the bottom? What if more banks fail? Has anyone heard of the eye of the storm? also check out my blog!
High profile closings like this will have a future negative effect on the mind of the consumer. I have started a blog on our current economic realities, please come check it out. Leave your feedback once you read the entries.
Not so long ago we experienced one of the biggest financial expansions in American history. Credit was not only easily and readily available; it was also cheap.
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Fed days are always great fun.
In the same manner we handle toxic waste, we will handle toxic assets: we will bury them in a bad bank for 20 years and forget about them until better times arrive. This is the current world plan to jump-start our economies and credit markets; however, this plan has no future.
In the same manner we handle toxic waste, we will handle toxic assets: we will bury them in a bad bank for 20 years and forget about them until better times arrive. This is the current world plan to jump-start our economies and credit markets; however, this plan has no future.
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Here we go, the credit crunch gets tighter.
A true representation of the dismal losses that will appear after the FASB rule 157 takes effect.
simply put, the truth.....
OMG people are gonna be mad!
Time to celebrate the availability of cheaper money for borrowing!
At the time of this report, we find our economic situation in a state of turbulence as the current economic slowdown significantly raises the risk of the United States entering a recession.
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In a bold strike, the Federal Reserve slashed a key interest rate by a half point on Tuesday — the first cut in over four years — and left the door open to further relief to prevent a painful housing slump and jarring credit crunch from driving the country into recession.
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Is the long wait coming to an end for borrowers who would like to see interest rates go down?
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Ameriquest Mortgage Co., once the nation's largest subprime lender, will close with barely a whimper, after the other assets of its parent company were sold Friday to Citigroup Inc.
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Freddie Mac, the nation's No. 2 buyer and backer of home mortgages, set aside more than $300 million in the second quarter to account for bad loans, contributing to a 45 percent drop in profit.
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The disquiet on Wall Street showed no signs of letting up as the Dow industrials closed below 13,000 for the first time since April and the S.&P. 500 erased its gains for the year.
Biotechnology company Amgen Inc. said Wednesday it will cut up to 14 percent of its work force and has lowered its profit guidance because of slimmer than expected sales of its anemia drug Aranesp.
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