Articles

As the credit crisis deepens, banks are becoming more and more willing to sell foreclosed homes at lower prices and take the steep loss.

In a note to his clients, Merrill Lynch's Richard Bernstein warned that the credit crisis is far from over and that financial companies have more hits to take.

Washington Mutual has raised the rate on its 12 month CD to 4.50% APY, making it the top rate on the BestCashCow rate table.

The Fed was looking for a lifeline from energy and it has received it over the last couple of weeks as oil has plummeted from over $140 a barrel to under $120.

Downey Financial Corp. revealed in its quarterly filings that the Office of Thrift Supervision, its main regulator has imposed several restrictions on its activities.

The FDIC's insurance may lose 17% of its capital as bank failures have drained it. It's expected to to the point where the FDIC may ask other banks to pay more to replenish the fund.

Remember when a rebel firing a bullet in Nigeria caused the price of oil to jump $10 a barrel. Now, there's an all out way in Georgia and oil prices continue to drop. Something has changed.

Many different economic models are being used to try and predict the bottom of the housing market. Here's a look at a few of them.

One of the proponents of the commodities bubble says to go against it.

I was listening to Joseph Stiglitz today on CNBC and was struck by his gloomy assessment of the economy. Here's what he had to say.

Merrill, UBS and Citibank have all now agreed to repurchase outstanding auction rate securities at par over the next several months.

Virtual Bank now offers the best 1 Year and 3 month CD rates.

Larry Summers, former Treasury Secretary under Bill Clinton and former President of Harvard provides a grim view on the pressures facing the economy and the potential recover.

Citigroup has agreed to a settlement with the NY Attorny General's office that will see it buying back about $7.5 billion in securities from individual customers, charities and small businesses. This is good news for anyone still stuck with illiquid auction rate securities.

The dollar has been beaten up over the last couple of years and now has made a modest jump? Will it continue?