NewsRack: 'subprime' news in 'Global Economy' topic for user newstrust

Rise in World Trade Fails to Lift Shipping Industry	15.1.2010	International Herald Tribune: Business
Much like the giant banks crippled by the subprime mortgage crisis, cargo shipping companies are paying now for having expanded too aggressively during the boom, according to analysts.
Also found in: [+]
Moral Bankruptcy: Why Are We Letting Wall Street Off So Easy?	13.1.2010	Commondreams.org Views
by Joseph E. Stiglitz It is said that a near-death experience forces one to reevaluate priorities and values. The global economy has just escaped a near-death experience. The crisis exposed the flaws in the prevailing economic model, but it also exposed flaws in our society. Much has been written about the foolishness of the risks that the financial sector undertook, the devastation that its institutions have brought to the economy, and the fiscal deficits that have resulted. read more
Also found in: [+]
Moral Bankruptcy	13.1.2010	Mother Jones
Joseph Stiglitz' new book, Freefall: America, Free Markets, and the Sinking of the World Economy , is in stores as of Monday. You can find it online at Powell's . IT IS SAID THAT A NEAR-DEATH experience forces one to reevaluate priorities and values. The global economy has just escaped a near-death experience. The crisis exposed the flaws in the prevailing economic model, but it also exposed flaws in our society. Much has been written about the foolishness of the risks that the financial sector undertook, the devastation that its institutions have brought to the economy, and the fiscal deficits that have resulted. Too little has been written about the underlying moral deficit that has been exposed—a deficit that is larger, and harder to ...
Also found in: [+]
Reuters Breakingviews: Hope of Reprieve for Bond Investors	11.1.2010	NY Times: Business
While regional banks are braced for a damaging impact, mortgage-backed-bond investors are betting that they will escape with just a few scratches.
Also found in: [+]
More on the Fannie Mae/Freddy Mac Fraud	11.1.2010	NewsTrust Yahoo Pipes Feed
I wrote here about a very important story, which originated with Edward Pinto, a former chief credit officer for Fannie Mae, and was broken by Peter Wallison in the Wall Street Journal, that deserves much wider coverage. Everyone knows that Fannie Mae and Freddy Mac, the government-sponsored entities that helped create a market for mortgage-backed securities, played a key role in last year's financial crisis. But the truth is, apparently, worse than that. It seems that Fannie Mae and Freddy Mac--the U.S. government, in effect--"routinely misrepresented the mortgages they were acquiring, reporting them as prime when they had characteristics that made them clearly subprime or Alt-A...." The much-reviled Wall Street bankers relied on those ...
Mortgages to Native Americans plummet	10.1.2010	ICT - National
As recently as a dozen years ago, lenders did not make mortgages on American Indian reservations.
Also found in: [+]
Wall Street Disrepair, Main Street Despair: Old Problems Remain in New Year	4.1.2010	Common Dreams: Views
by Danny Schechter New York, January 4th: It's a new week, a new year, and - some erroneously believe - a new decade. What's not new is the stranglehold the banks have on our economy; quietly stashing more billions for more bonuses while still restricting the flow of credit. Bad loans have been supplanted by no loans. Writers on the left continue to go after one bankster -- the one we love to hate: Goldman Sachs which has become the poster boy for profiteering and even bad coffee served in their cafeterias. read more
Also found in: [+]
Goldman's Offshore Deals Deepened Global Financial Crisis	3.1.2010	Truthout.com
New York - When financial titan Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that many of the deals were so risky that they could end up losing hundreds of millions of dollars on them. read more
Also found in: [+] [newstrust :: Housing]
Emerging markets rise from decade’s gloom	1.1.2010	Financial Times US
After another turbulent year, the decade ended showing that youth triumphed over maturity – that emerging markets and developing asset classes like commodities outperformed established equity and bond markets
Also found in: [+]
Goldman Sachs gave little warning of risk to investors	31.12.2009	Star Tribune: Business
A new kind of offshore securities the bank sold turned out to be toxic, and records show it was passing the high risk on to many clients.
Also found in: [+]
Home of The Wire fears return of the blight	31.12.2009	Financial Times US
The plywood boards nailed across the windows of the rundown "row-house" have been ripped back. Two men fling waste from a pick-up truck through the gaping hole and...
Also found in: [+]
Home of 'The Wire' fears return of the blight	31.12.2009	Financial Times US
The subprime fallout threatens urban renewal in Baltimore, writes Sarah O'Connor
Also found in: [+]
From dotcom bust to banking meltdown: the decade in business	29.12.2009	The Guardian -- World Latest
It was a decade that did very little to enhance the reputation of capitalism and big business On 15 September 2008, workers began to stream from the offices of the Lehman Brothers building just north of Times Square. One yelled to the press camped outside; "You're watching history man," and he couldn't have been more right, as the investment bank collapsed , triggering a banking crisis, the likes of which had never been seen. It was a tumultuous decade bookended by two terrible crashes, the first brought on by the bursting of the dotcom bubble and the second by a financial crisis still yet to fully play out. At first glance, both look very different. But each shared some familiar characteristics; rampant speculation and the hope of ...
Also found in: [+]
Op-Ed Columnist: Anybody Seen Pati?	27.12.2009	NY Times: Editorials
A missing mother of four is a reminder that the most grievous victims of the global economic crisis aren’t just Americans.
Also found in: [+]
Francis Fukuyama: How Capitalism Survived the Crisis	24.12.2009	Newsweek Top Stories
How capitalism survived the crisis. ...
Also found in: [+]
Ten years of technology: 2008	24.12.2009	The Guardian -- World Latest
As the noughties come to a close, we take a look at the biggest technology stories of the decade - and how the Guardian reported them at the time In a lot of ways, it still feels like we're living out in the ripples of 2008. It was, after all, just a year ago. But it was a year of major turbulence, largely the result of financial misadventures - the sub-prime mortgage crash in America turned into a full-blown crisis, and the resulting recession has hit every manjack among us in one way or another. Once you factor out the bitter, deflated meringue that was the economy, among the big technology companies, there was much of the same: Google continued expanding, Apple released a new version of its iPhone, Microsoft started trying to put the ...
Also found in: [+]
On Wall St: A tonic that works too well	23.12.2009	Financial Times US
The current hunt for yield is reinvigorating some of the demons that caused the credit crisis, writes Henny Sender
Also found in: [+]
Top hedge funds bet on big yields rise	23.12.2009	Financial Times US
The recent rise in long-term US interest rates comes as good news for several leading hedge fund managers, including John Paulson, who have positioned their trading books to benefit from higher yields on US Treasury securities
Also found in: [+]
Economy: Is Fed Chairman Ben Bernanke to Blame?	22.12.2009	Newsweek Top Stories
All the sins of Washington and Wall Street are being laid at the Fed chairman's door. ...
Also found in: [+]
Too Big to Jail?	21.12.2009	Mother Jones
MAYBE WALL STREET should open a casino right there on the corner of Broad, because these guys simply cannot lose. After kneecapping the global economy, costing millions their homes and livelihoods, and saddling our grandchildren with massive debt—after all that, they're cashing in their bonuses from 2008. That's right, 2008—when amid the gnashing of teeth and rending of garments over the $700 billion TARP legislation (a mere 5 percent of a $14 trillion bailout; see " The Real Size of the Bailout "), humiliated banks rolled back executive bonuses. Or so we thought: In fact, those bonuses were simply reconfigured to have a higher proportion of company stock. Those shares weren't worth so much at the time, as the execs made a ...
Also found in: [+]

1 to 20 of 2,634