The subprime economy and the problems it brought us are the result of subprime thinking…
July 28th, 2008 | Bill Bonner | 1 comment | ContinuedAll Posts Tagged With: "subprime"
Happy Birthday Subprime Crisis, Oil Price up 96%
Think back to a year ago. This week is the one-year anniversary of the beginning of the subprime crisis. A year ago this week we covered the slow-motion collapse of two Bear Stearns funds, the High Grade Structured Credit Strategies Enhanced Leverage Fund and the High Grade Structured Credit Strategies Fund. On June 22nd of last year, you could still buy a barrel of West Texas Intermediate crude for $68.85. Today a barrel of oil traded on NYMEX will cost you $135.02
June 23rd, 2008 | Dan Denning | 3 comments | Continued
Those Who Toil in Finance are Unhappy
Subprime mortgages, liar’s loans, private equity finance, Chinese stocks, residential housing, SIVs, CDOs - they all needed more and more leverage, more and more finance, just to stay even.
February 18th, 2008 | Bill Bonner | 0 comments | Continued
Subprime to Prime, the Whole Credit Structure has been Hit
From subprime, to prime, to home equity, to credit cards, to car loans, to buyout financing… the whole credit structure has been hit, some parts worse than others.
February 18th, 2008 | Bill Bonner | 0 comments | Continued
U.S. Subprime Meltdown Costs the World $8.6 Trillion
A research paper from Bank of America says the related fall-out from the crisis has caused $8.6 trillion in stock market losses worldwide, trimming a full 14.6% from the total world market capitalisation. “It could take months or even years before Wall Street and others get a handle on the true cost of the US subprime meltdown and the attendant global credit crunch,” Bank of America chief market strategist Joseph Quinlan added.
February 15th, 2008 | Dan Denning | 2 comments | Continued
G7 Reveals Subprime Losses Could Reach $400 Billion
Speculators are encouraged to borrow - especially now that they can get money at rates scarcely above the rate of consumer price inflation. After the Fed’s latest rate cuts, its key-lending rate is below the inflation level.
February 13th, 2008 | Bill Bonner | 0 comments | Continued