Articles

The government finally stepped in and seized Fannie Mae and Freddie Mac, putting it out of its housing bubble induced misery. Everyone stands to benefit except for the US taxpayer, who is now on the hook for billions.

State Bank of India has gotten aggressive with its rates, offering the highest 24, 36, and 60 month CD rates. They are largely unknown but are part of one of the largest Indian banks.

The credit crisis has taken its toll on many sectors. The municipal bond market has remained largely unscathed to date. But municipal investors need to open their eyes. These bonds are about to be the next shoe to drop in the credit markets.

Somehow, the NY City real estate market has barely dipped during the housing bust. It's down 7% versus a national drop of 16%. Even as Wall Street faces turmoil, prices have remained resilient. Housing prices in NYC are not the least affordable in the country. Will NY eventually correct during a second leg of the housing bust, or will home prices remain stubbornly high? I think they will correct at some point.

Think just the US is suffering? Look no further than overseas where the UK is suffering. The rest of Europe is also being pulled under. It's why the dollar has been rallying over the last month.

The dollar has risen to its highest level in almost seven months against the Euro and the British Pound fell to a two year low against the greenback. The strength in the dollar has been driven by the plummeting price in oil (the dollar has moved in the opposite direction of oil), and the weakening of European countries.

Here's our recap of the key financial events that occurred over the summer for all of you that spent July-August at the beach. Think something else should be mentioned? Feel free to comment it below.

The risk premium for Iraqi bonds is actually less than for major banks such as National City and Keycorp. Investors are saying its safer to invest money in Iraq than in these banks.

The government stimulus program provided a short jolt to the economy but it's not fading. Get ready for much slower growth.

Wachovia Bank is offering an online-only competitive 3.5% APY money market in some parts of the country.

The stock market is up on the 2008 revised second quarter GDP growth numbers just released. They show growth at 3.3% versus the original estimate of 1.9%. These numbers will not hold.