"Bernanke and policy makers are allowing an implosion of the biggest credit bubble in history"
By MADLEN READ The Associated Press Wednesday, March 19, 2008; 12:08 PM NEW YORK -- Treasurys traded mixed Wednesday, with investors pleased about a move to expand the mortgage-buying power of Fannie Mae and ... via The Washington Post
Amount of Excess Capital that Fannie Mae and Freddie Mac Have to Hold Reduced from 30% to 20% by OFHEO via ClipSyndicate
A sharp drop in resource shares hammered the Toronto Stock Exchange's main index on Wednesday as commodity prices dropped on concern that demand could be weakened by the U.S. economic slowdown. via Canada.com
This article was first published on guardian.co.uk on Wednesday March 19 2008. It was last updated at 18:28 on March 19 2008. via Guardian Unlimited
"U.S. housing and mortgage issues and a deteriorating economic environment."
Discover Financial Services said fiscal first-quarter results fell by 65 percent despite softening but still-strong profitability in the credit-card company's U.S. business, reflecting a painfully large loss from the Riverwoods firm's troubled and soon-to-be-divested international group.
While underlying profits topped analyst expectations, Discover's latest results underscore the extent to which the softening U.S. economy is pinching profits, by boosting the number of consumers whose accounts are delinquent. Read more
"It's definitely a spotty market because there is a tremendous amount of volatility"
Investors who managed to remain calm during Wall Street's latest tempest could find they have what it takes to invest in small-cap stocks. via KIMA
"Considerable market concerns remain about a deeper and longer recession or a systemic crisis"
Asian equities chased Wall Street higher on Wednesday after a deep US interest rate cut but a European rally fizzled out amid rumours that a British bank was facing liquidity problems. via Raw Story
Asia's stocks gain following U.S. Federal Reserve's decision to slash interest rates. via Reuters Video
"This shows that all the recent financial turmoil obviously hasn't bothered a lot of people"
The credit crisis that has been haunting the stock market for months wasn't enough to scare investors away from the IPO of the world's largest credit card processor.
Overcoming the jitters that have battered many of the lenders that issue its cards, Visa Inc. sold 406 million shares at $44 apiece late Tuesday to raise nearly $18 billion and complete the most lucrative initial public offering in U.S. history.
The price topped the range of $37 to $42 per share that Visa set three weeks ago, reflecting high demand to own a piece of a company that's promising earnings growth of 20 percent despite a credit crunch that's choking the U.S. economy. Read more
"It only shows naivete if you didn't fully understand what this was about"
Former Gov. Jim Gilmore, who was criticized for his handling of state finances, was chairman of a Bear Stearns subsidiary set up to market some of its highest-risk securities tied to the home mortgage industry ... via KSL-TV Salt Lake City
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