The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail [...]
Are you one of the millions of homeowners who went for one of those enticing variable or adjustable rate mortgages only to see your monthly payment, which started off low, continuing to rise, escalating to the point where it’s harder and harder, or even impossible, for you to keep up your payments?
Unfortunately, this is an [...]
Angelo Mozilo wants to make one thing perfectly clear: Countrywide Financial, whose stock is down more than 20% for the year, should not be lumped in with the subprime outfits that are getting hammered. In a wide-ranging interview on Mar. 12, the CEO of America’s No. 1 lender suggested that panic was gripping the market [...]
More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation’s top bank regulator. Sitting in the spacious Office of the Comptroller of the Currency, with its panoramic view of the capital, the AGs from North Carolina and Iowa said lenders [...]
As world leaders seek answers to the global financial crisis, take a closer look at the key economic events of the year.
The crisis in world financial markets has its roots in declining home values in the US real estate market which began in late 2006 and led to a wave of foreclosures and defaults on [...]
The 2008 financial crisis is affecting millions of Americans and is one of the hottest topics in the Presidential campaigns. In the last few months we have seen several major financial institutions be absorbed by other financial institutions, receive government bailouts, or outright crash.
So what caused the financial crisis of 2008? This is actually the [...]
What Caused The Financial Crisis Of 2008?
I think we can sum up the cause of our current economic crisis in one word — GREED. Over the years, mortgage lenders were happy to lend money to people who couldn’t afford their mortgages. But they did it anyway because there was nothing to lose. These lenders were [...]
