A growing number of Americans are struggling to pay for housing, despite a steep drop in home prices, according to an article in the USAToday. For the entire article go to http://www.usatoday.com/money/economy/housing/2008-09-22-housing_N.htm.
Sep 23, 2008
Sep 19, 2008
Fed bails out AIG
AIG - responsible for insuring much of the sub-prime mortgage in the market - has been bailed out by the Fed in return for about 80% equity and completely new management. Markets the world over must be heaving a sigh of relief.
Merrill to be acquired by BoA
Who would have thought? $50 billion is no small change either. The impact of the mortgage market crises doesnt seem to go away that quickly or easily
Lehman Brothers goes under
For those wondering about the impact of this on the financial markets - you can keep dreaming. This is huge.
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