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Worried about the stability of mortgage giant Countrywide Financial, depositors crowd branches. In Laguna Niguel, Bill Ashmore drove his Porsche Cayenne to the bank's office and waited half an hour to cash out $500,000.
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Markets can't work when lenders don't know what collateral is worth
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Bernanke & Co. will still wait for evidence the credit crisis is affecting the broader economy before moving on a full-fledged rate cut
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The first buyers of Google stock look brilliant three years later, but other issues have far exceeded the search giant's nearly 500% gain
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The chart below summarizes the cause of the current global liquidity crisis and the eventual intervention by major central banks in an easy-to-understand manner.
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Howard discusses the panic and euphoria currently affecting Wall Street.(tags: stocks)
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good ole T2108 :-)
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Although the initial reaction is one of euphoria, today's surprise discount rate cut by the Federal Reserve may have unintended consequences. In fact, it will likey be the trigger for the next leg down in the unfolding bear market.
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For more than a decade, Edward M. Gramlich, a Federal Reserve Board governor, has been warning of dangers in the housing market. But now, he’s fighting for his life.
links for 2007-08-19
Essential Reading
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