A little less than 12 months ago, the world’s biggest financial players suddenly found they could not turn some $1.3 trillion of their assets into cash. These assets - bonds backed by US home-buyers with low (or no) incomes - had become utterly illiquid. No one would buy or lend against them, not at any price. And an asset you can’t sell or borrow against is worth precisely nothing. The resulting mayhem? It would have sounded frivolous two years ago.
May 13th, 2008 | Adrian Ash | 1 comment | Continued Our DR Global Editions: 
Tuesday, October 14th, 2008
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The Markets
All Ordinaries Id 4311.50 +169.60
S & P/asx 200 4335.20 +154.50
Nzx 50 Index Gros 2948.97 +166.58
DJIA 9387.61 +936.42
NASDAQ 1844.25 +0.00
S&P 500 1003.35 +0.00
Ftse 100 4499.94 +243.04
2008-10-14 01:10 Most Comments
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The current financial crisis identifies huge flaws and gaps in knowledge and contextual understanding. The possible Day of Reckoning ...
Coffee Addict | 14Oct08 | More -
Critical Thinking needs to be taught at school. Last year I saw an interview on food consumption and production ...
Grant | 14Oct08 | More -
Yes, that's true! I know people who didnt go to school at all, because they were stuck in world war ...
christina | 13Oct08 | More -
The danger to Australian resource companies is the Australian government's 'guarantees' of the banking system. Just what do they ...
ram | 13Oct08 | More -
i need more causes of inflation is food prices the only one
Riri | 13Oct08 | More -
Bounce, bounce then a dead cat bounce. The remaining excess liquidity needs to be torched and this is happening as ...
Coffee Addict | 13Oct08 | More -
"My answer is: a lot worse."
Well, it's now October 12th, and I've read Keen's latest blog (http://www.debtdeflation.com/blogs/) and if what ...
Tim Fallon | 12Oct08 | More -
Ah, c'mon, Bill. Sarah is just brilliant in how she is able to weave into her response to just about ...
SJ | 12Oct08 | More -
If she's a half-wit then i'm a half-wit (and a dumbell too!). And all my friends and neighbors are half-wits. ...
Lois Tess Gore | 12Oct08 | More -
Its a double edged sword. Consumers need to curb their spending and reign in debt. Businesses need people to keep ...
km | 12Oct08 | More
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The current financial crisis identifies huge flaws and gaps in knowledge and contextual understanding. The possible Day of Reckoning ...
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