Global losses from the credit crisis could exceed $4.1 trillion by the end of 2010, according to a report from the International Monetary Fund (IMF) released on Tuesday morning. The IMF raised its projection for $1.4 trillion in credit losses from U.S. financial institutions to a $2.7 trillion loss,...
The Fast Money traders and Sean Egan, president of Egan Jones Capital, discuss the state of the credit crisis.
Treasury Secretary Timothy Geithner says the economy will face a period of slower growth if we don't get the deficit down, reports CNBC's Mary Thompson.
More measures are needed to combat the credit crunch and provide additional liquidity to the financial system, according to Fed Chairman Ben Bernanke in a speech Tuesday to the London School of Economics. Bernanke argued that, "more capital injections and guarantees may become necessary to ensure...
Millions of Americans are being sandbagged yet again by consequences arising from the banking crisis. For the last six months or so, lenders have been wrecking havoc on many of their customers by reducing credit limits , increasing prevailing interest rates , or both. These unilateral moves have been...
Interbank lending rates in the United States continues to decline in Thursday with the longer three-month Libor kicking off 10 bps to a 2.00% level narrowing some key measures of credit health. The Libor/OIS spread narrowed 9 bps to 175 bps and the Ted-spread narrowed 10 bps to 199 bps. Meanwhile, the...
The minutes of the Federal Open Market Committee's ( FOMC ) Oct. 28-29 meeting released Wednesday show that board members reduced their GDP forecast down by two percentage points. The Committee believes modest growth will return in the second half of next year and near-potential growth could be restored...