Mortgage Rate Update: Volatile, Float
UK Prime Minister Gordon Brown claims to be leading the world through the global banking crisis and it looks like he may be right, as the US and Treasury Secretary continue to take queues from UK government action.
The mounting question on the US financial crisis rescue execution front is: Will banks lend or hoard new capital?
Crisis of confidence #2: Recession begins new market slippage.
Major US banks begin to report quarterly earnings this week. Harbors some fear, but JP Morgan pops with first positive surprise–Reports profit, despite $5.8 billion in write-downs and 84% drop from $3.4 billion to $527 million.
Bill Gross’ loud public discussion and lobbying for the Fed to buy commercial paper, from the Pimco pulpit, obviously secured it the management of the Fed’s Commercial Paper Funding Facility.
Want to take you shot at describing and resolving the credit crisis? Give us the Credit Crisis in 30 Slides (or Less.
About Bill Rice