Archive for 'Business News'
Another American bank fails: Lehman Brothers
After the nationalization of the two U.S. banks, the government seems to have closed the door to requests for help. A major U.S. bank Lehman is bankrupt and it brings back a lot of problems. The bank was one of the largest banks with investments in subprime mortgages and for this reason had to close [...]
Full StoryThe U.S. government nationalized Freddie Mac and Fannie Mae
The U.S. government feels really deep in crisis and has decided to nationalize two key institutions for the U.S. economy. The operation will be to make state Freddie Mac and Fannie Mae, two institutions that absorbed (or better funded) 80% of the mortgage crisis.
The intervention will cost taxpayers a lot of money Americana’s estimate about [...]
A rally to cure the crisis
Giornalettismo has published an interesting article about a rally of 3,000 borrowers and 250 officials of the bank. Foreclosure Prevention Workshop is the name of the rally. The article is pretty interesting; with two accounts at the end shows that the crisis is not just a small band of American loans and the poor, but [...]
Full StoryThe mortgage crisis arrives in Denmark
The mortgage crisis does not seem to stop, and is continuing to claim victims “famous” even in the old continent, where after the financial giant UBS in great crisis, which has announced in these days of downsizing staff salaries,
It was starting to fail Roskilde Bank a major Danish bank, which is running in aid, the [...]
Chinese banks to the fore, the evolution of China
In these times of crisis the U.S. banks are all losing share, some have just crashed to the ground. But there is another market that appears to be flying high despite the global crisis. That was Chinese banks. Thanks to the development of China in recent years, banks have benefited a lot of growth and [...]
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