Foreclosure Phil
Foreclosure Phil

NEWS: Years before Phil Gramm was a McCain campaign adviser and a lobbyist for a Swiss bank at the center of the housing credit crisis, he pulled a sly maneuver in the Senate that helped create today’s subprime meltdown.
By David Corn
May 28, 2008
Who’s to blame for the biggest financial catastrophe of our [...]

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Credit crunch costs ‘$1 trillion’

By Steve Schifferes
Economics reporter, BBC News

Mr Strauss-Kahn will head IMF talks in Washington.

The International Monetary Fund (IMF) has warned that potential losses from the credit crunch will reach $945bn (£472bn) and could be even higher.
The IMF says that losses are spreading from sub-prime mortgage assets [...]

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From Crook and Liars
By: Nicole Belle @ 4:56 PM - PDT
At the time of Spitzer’s resignation, I blogged that something about the investigation didn’t pass the smell test, the Don Siegelman case foremost on my mind. But journalist Greg Palast has made a compelling case tying the Spitzer investigation to a different top story.
While New [...]

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Economy
Bernanke Urges Banks to Help Borrowers More
by Jim Zarroli
All Things Considered, March 4, 2008 · Federal Reserve Chairman Ben Bernanke told a roomful of bankers Tuesday that they need to do more to help troubled borrowers. Banks have been giving borrowers who are about to default more time to make payments and are renegotiating [...]

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