Archive for the ‘Finance’ Category

Stocks fall sharply as global crisis persists

October 6th, 2008 by ProvoBoy | No Comments | Filed in Economy, Finance

This roller-coaster just seems to get more out control…

NEW YORK (MarketWatch) — The Dow Jones Industrial Average fell as much as 800 points to trade below the 10,000 mark Monday as nervousness over the credit crisis spread after the U.S. government’s $700 billion bailout and interventions in Europe only seemed to add to investor anxiety.

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Pressured to Take More Risk, Fannie Hit a Tipping Point

October 6th, 2008 by ProvoBoy | No Comments | Filed in Economy, Finance

More of the New York Times series The Reckoning, articles that explore the causes of the financial crises the US economy faces currently.

A decision, made under pressure from Congress and investors, to steer Fannie Mae into dangerous corners of the mortgage market proved to be disastrous.

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Agency’s ’04 Rule Let Banks Pile Up New Debt

October 3rd, 2008 by ProvoBoy | No Comments | Filed in Economy, Finance

I’ve been following the financial situation the US is in right now. This article is pretty interesting and I’m looking for more articles that talk about what happened that lead up to this.

“In 2004, the Securities and Exchange Commission allowed investment banks to take on more debt, and over the years, the firms took advantage of the rules.”