Follow Newser on Twitter   Friend Newser on Facebook
Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: Great Depression

Stories 41 - 50 | << Prev 

Switch to grid view »

Yes, It's Bad, But the Depression It Ain't

Economist sees differences and remains optimistic

(Newser) - The economic news out of Wall Street and Washington is scary and shocking, but there's no reason to use the "D" word anytime soon, Jay Hancock writes in the Baltimore Sun. He talks with economic historian and professor Louis Galambos, who remains guardedly optimistic about the "core of... More »

Depression, No—but That Lesson Is Vital

As credit outlook deteriorates, most important word is 'trust'

(Newser) - Constant references to the Great Depression aren’t alarmist, but the analogy isn't perfect, either, writes David Leonhardt in the New York Times. "The basic mechanics of how the economy might fall into a severe recession look quite similar to those that caused the Depression," he explains. "... More »

'Nihilist' House GOP Doomed US to Recession

American leadership is 'scarcer than credit,' writes Brooks

(Newser) - When FDR became president, writes David Brooks, his first priority was to give Americans faith in their leadership, to show that someone was running the show. Now that the US is facing the greatest financial crisis since the Depression, today's political leaders "have failed utterly and catastrophically to project... More »

Crisis 'Going to Last a Lot Longer'

The ills of the banking sector are spreading to industries previously thought resistant

(Newser) - The “worst financial crisis since the Great Depression” is spiraling downward and we may not have hit bottom yet, reports the Wall Street Journal in a look at how the subprime contagion has spread beyond its banking hosts, infiltrating sectors previously thought to be immune. “I think it’... More »

New York, New York, That Teetering Town

Masters of Universe tighten their belts as Wall Street quakes

(Newser) - Amid the financial fallout, even Manhattan's wealthiest consumers are beginning to curb their spending, Reuters reports. Wall Street tremors and belt-tightening by the rich are bound to hit New York City especially hard, and will rock stores, restaurants—and even charities. "We still have not hit the bottom of... More »

Bear Bailout Called 'Worst Mistake in a Generation'

Bear Stearns move 'worst mistake in generation,' he charges

(Newser) - A former top-ranking Fed official has called the central bank's decision to bail out Bear Stearns its "worst mistake in a generation," the Wall Street Journal reports. The official, former chief of monetary policy, compares the hasty move to errors that helped trigger the Great Depression. He accused... More »

Rumsfeld to Pen Memoirs

Proceeds will go to foundation

(Newser) - Former Defense Secretary Donald Rumsfeld, one of the architects of the war in Iraq who resigned from the Bush administration when the US became mired in the insurgency, is writing his memoirs, Reuters reports. The 75-year-old former congressman won't take an advance and will donate the book's proceeds to a... More »

Depression-Era FHA Tries to Save Mortgages

Long-sidelined agency now a central player in the credit crisis

(Newser) - It’s been a while since the Federal Housing Administration was relevant. But now policymakers are counting on the Depression-era agency, which mostly insures mortgages, to once again solve a housing crisis. FHA-insured loans are swiftly becoming substantially cheaper than their Fannie Mae or Freddie Mac backed counterparts. “The... More »

Bah, Happiness: Gloom Is Normal

Sadness is a normal emotion, not a disease, cries anti-joy crowd

(Newser) - Maybe you're feeling a little down—not to worry! Turn to self-help books, psychiatrists, little blue pills, or Dr. Phil to make you happier! But in Against Happiness, melancholy Eric Wilson rails against our culture’s “craven disregard for the value of sadness.” And a growing wave of... More »

Home Foreclosures Hit Record

A dreary real estate market is fueling an all-time high rate of foreclosures

(Newser) - Home foreclosures hit a record high in first-quarter 2007 as more subprime borrowers failed to make their mortgage payments. The number of mortgages entering foreclosure spiked four basis points to 0.58% and over 2.4% of subprime mortgage holders defaulted, up from 2% last quarter, according to a report... More »

Stories 41 - 50 | << Prev 
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   Timelines   |   Geek Sugar   |   Business Insider   |   HuffPost Entertainment