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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: financial meltdown

financial meltdown stories: 26 news summaries

1 - 20 of 26 Stories | 1 2 Next >>

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 Michael Moore 
 Wants to 
 'Save Our 
 CEOs'

Teaser trailer is actually stunt for new movie

Jun 15, 09 8:24 AM CDT
(Newser) - Let the viral marketing begin. Michael Moore pulled a fast one on New York moviegoers Friday night when, instead of a conventional trailer for his new film, he appeared onscreen Will Rogers-style asking for donations to “save our CEOs,” the New York Daily News reports. Audience reactions were... More »

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entertainment • executive compensation • Michael Moore • documentary • bailout • Wall Street bailout • financial meltdown

OPINION

 Krugman in 
 'Despair' Over 
 Toxic Asset Plan 

Dressing up Paulson's failed solution is no solution at all

Mar 23, 09 8:57 AM CDT
(Newser) - Paul Krugman has been downbeat for weeks on the Obama efforts to rescue the economy, but today he hits a new low. “This is more than disappointing. In fact, it fills me with a sense of despair,” writes Krugman in the New York Times of the White House... More »

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Barack Obama • Henry Paulson • Paul Krugman • financial crisis • financial meltdown • Timothy Geithner • toxic assets

(Newser) - Executives at government-owned mortgage giants Fannie Mae and Freddie Mac are scheduled to receive six-figure retention bonuses, but Barney Frank wants the payments canceled, MarketWatch reports. “In this troubled economy, and in this job market, it is difficult to imagine that the companies would not be able to find... More »

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mortgage • Freddie Mac • Fannie Mae • bonuses • Barney Frank • bailout • financial crisis • financial meltdown

glossies

 'Viking Bankers' 
 Pillaged Iceland 

How Iceland went from fishing to finance to ruin

Mar 5, 09 2:48 AM CST
(Newser) - The bankers who ruined Iceland’s economy possessed the mentality of its fishermen—daring, aggressive, and devoted to the “lucky catch," Michael Lewis writes in Vanity Fair. It's no surprise—after all, they were the sons of fishermen whose massive profits helped modernize Iceland in the 1970s.... More »

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insurance • financial markets • fishing • Iceland • foreign currency • speculation • financial meltdown

Bjork Banks on Girl Power
to Save Iceland

Singer promotes venture-capital fund run by women

Jan 22, 09 1:45 PM CST
(Newser) - Quirky Icelandic singer Bjork is promoting a venture-capital fund run by women that will invest in socially and environmentally sustainable companies and, she hopes, help rebuild her economically stricken country. "Instead of talking about the problems we have, she is on a mission to build a sustainable Iceland that's... More »

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venture capital • Iceland • green business • Bjork • sustainability • financial crisis • financial meltdown

2008 Inflation Slowest in 50 Years on Oil Prices, Economy

Slow spending, sliding energy costs lead to 0.1% CPI increase last year

Jan 16, 09 8:43 AM CST
(Newser) - In 2008, consumer prices crept up at the slowest rate since 1954, climbing just 0.1% for the year and missing the Fed’s preference of 1.5% to 2% by a wide margin, the Wall Street Journal reports. Just months after inflation hit 17-year highs, a 75% drop in... More »

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inflation • Ben Bernanke • Federal Reserve • deflation • interest rate • commodities • monetary policy • financial meltdown

Vindicated in 2008, Some Experts Foresee Gloomy '09

A few who called last year's calamities correctly see grim days ahead

Jan 2, 09 10:52 AM CST
(Newser) - Labeled overly pessimistic for years, a few Wall Street prognosticators became the oracles of 2008 by correctly predicting the unwinding of the global economy, the Wall Street Journal reports. The doomsayers correctly anticipated bank failures, stock market declines, and the housing market collapse of the second half of 2008. As... More »

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stock market • global economy • bonds • credit crisis • housing crisis • housing bubble • financial crisis • financial meltdown

 Recession Shutters 
 Famed Yale Club 

Mory's has closed until further notice

Dec 29, 08 4:59 PM CST
(AP) - Mory's, a legendary Yale University eating and drinking club that traces its roots to the Civil War—and whose membership includes two presidents named Bush—is the latest victim of the recession. A list of patrons that has included the likes of Al Pacino, Tom Hanks, and Jodie Foster hasn't... More »

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New Haven • restaurant • recession • club • meltdown • Yale • financial crisis • financial meltdown • Mory's • recession depression

ANALYSIS

How Iceland Went From Codfish to Meltdown

Country built a huge financial bubble based on a vulnerable currency

Dec 27, 08 11:18 AM CST
(Newser) - How did a chilly nation of cod fishermen play a key role in the world's crumbling financial markets? Seeking to avoid the boom-and-bust of fish catch, Iceland started by privatizing banks in the mid-1990s. It built a colossal banking system on a puny currency and attracted international deposits with high... More »

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Iceland • credit crisis • banking • bank failure • krona • financial crisis • financial meltdown

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Dec 22, 08 10:33 AM CST
(Newser) - A dozen years after bailing out the Soviet government, Russia’s oligarchs are seeking $78 billion in Kremlin handouts to weather the credit crunch, Bloomberg reports. Russian businesses have racked up some $110 billion in foreign debt due in 2009. The one-year loans, sought by more than 100 companies, would... More »

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Russia • Oleg Deripaska • Roman Abramovich • global economy • credit crisis • bailout • economy • financial crisis • financial meltdown • Dmitry Pumpyansky • Alexander Lebedev

White House Slams NYT Story as 'Gross Negligence'

Perino: Shoddy 'reporting' behind housing crisis story

Dec 21, 08 6:40 PM CST
(Newser) - The White House accused the New York Times of “gross negligence” today in response to a page one story that largely places the housing and financial messes at the feet of Bush policies, Politico reports. “The Times’ ‘reporting’ in this story amounted to finding selected quotes to... More »

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Bush administration • New York Times • mortgage • Dana Perino • housing crisis • mortgage delinquency • George W. Bush • financial meltdown

Madoff Fraud Will Hit Hedge Funds Hard

$50B Ponzi scheme will stagger funds, send investors to exits

Dec 12, 08 10:20 AM CST
(Newser) - Even as hedge funds face their worst yearly returns ever, they may take another collective $10 billion hit on money invested in Bernard Madoff’s namesake firm, which was revealed to be a giant Ponzi scheme yesterday, Bloomberg reports. Madoff was arrested and charged with fraud after admitting that his... More »

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private equity • Ponzi scheme • defrauding investors • hedge funds • financial meltdown • Bernard Madoff

Feds Under Pressure to Broaden Bailout

Treasury already needs to ask Congress for
next $350B installment

Nov 11, 08 9:45 AM CST
(Newser) - With nearly half of the $700 billion bailout committed, a growing array of distressed companies is lobbying the government, the Wall Street Journal reports, increasing the likelihood the Treasury will ask Congress for the rest of the bailout cash soon. But varied interests among legislators and emerging unemployment risks could... More »

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General Motors • Henry Paulson • AIG • Treasury Department • bailout • financial crisis • financial meltdown

 US May Buy 
 Equity in 
 More Firms 

After seeing some thawing in key credit markets, Treasury may expand program

Nov 4, 08 8:21 AM CST
(Newser) - Treasury is considering using some of the $700 billion at its disposal to buy stakes in a range of financial companies beyond banks, the Wall Street Journal reports. The idea comes after seeing measured success in thawing credit markets by taking equity stakes in several banks. Treasury may also abandon... More »

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Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Election 2008 • bailout • financial crisis • financial meltdown

As Investors Seek Cover, Central Banks Slash Rates

Seeking to loosen credit, central banks plan another round of cuts

Oct 28, 08 10:30 AM CDT
(Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the... More »

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currency exchange • financial markets • yen • credit crisis • economic stimulus package • interest rate cut • financial crisis • financial meltdown

Financing Deals Make AIG
a Drag on Transit Agencies

With AIG sinking, banks are calling loans to transit agencies

Oct 24, 08 2:55 PM CDT
(Newser) - Transit agencies nationwide are facing the prospect of unexpectedly having to repay billions in loans to large banks under financing deals made years ago, the Washington Post reports. Because AIG guaranteed many of the agreements, the insurance behemoth's woes could potentially affect millions of public transit riders as banks worldwide... More »

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AIG • credit crisis • Washington Metro • MTA • public transit • financial meltdown

AIG Has Already Spent Most of $123B Bailout

Ailing insurance
giant warns it may
need more help

Oct 24, 08 9:05 AM CDT
(Newser) - Struggling insurance giant AIG, recipient of the largest government bailout in history, has burned through three-quarters of its $123 billion financial lifeline, the Washington Post reports. As of yesterday, AIG has withdrawn $90.3 billion from the Federal Reserve’s credit line, mostly to pay off bad bets insuring toxic... More »

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AIG • mortgage backed securities • subprime crisis • bailout • Wall Street bailout • financial meltdown

OPINION

Starbucks Helped Brew Meltdown—Just Check a Map

Coffee empire's rise tracked (and fueled) housing's, and store locator mirrors trouble spots

Oct 21, 08 3:48 PM CDT
(Newser) - A simple tool could hold the key to predicting where the financial crisis will strike next, Daniel Gross writes on Slate: Starbucks’ Internet store locator. “Having a significant Starbucks presence is a pretty significant indicator of the degree of connectedness to the form of highly caffeinated, free-spending capitalism that... More »

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Starbucks • globalization • global economy • credit crisis • chain stores • financial crisis • financial meltdown • Daniel Gross

China Blames Crisis in Latest GDP Slide

Growth at solid 9%, but down for 5th quarter in row as exports shrink

Oct 21, 08 1:27 PM CDT
(Newser) - The dragon isn’t sick yet, but it’s definitely catching cold: China’s gross domestic product grew by an enviable 9% in the third quarter, but still failed to match last quarter’s result of 10.1%, the Guardian reports. The data mark the first time China’s GDP... More »

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China • GDP • Chinese economy • Chinese toys • credit crisis • financial crisis • financial meltdown • Chinese exports

 World Narrows Eyes at Exec Pay 

Germany's bailout plan imposes broader curbs than US version

Oct 21, 08 12:30 PM CDT
(Newser) - As governments worldwide implement bailouts for ailing financial institutions, the movement to curb executive compensation at those firms, and others, is gathering steam. Golden parachutes and pay practices that encourage excessive risk-taking are extremely unpopular in the public eye, the Wall Street Journal reports, and governments are finding restrictions necessary,... More »

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Australia • Germany • executive compensation • France • Netherlands • Sweden • bailout • banks • financial crisis • financial meltdown

1 - 20 of 26 Stories | 1 2 Next >>


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