Wednesday, 7 January 2009

Toyota to suspend production for 11 days in Japan: - Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand.

The End of the Financial World as We Know It : “Greed” doesn’t cut it as a satisfying explanation for the current financial crisis. Greed was necessary but insufficient; in any case, we are as likely to eliminate greed from our national character as we are lust and envy. The fixable problem isn’t the greed of the few but the misaligned interests of the many.

The Great Credit-Crunch Hoax of 2008: Remember the credit crunch? Of course, you do. We'd never seen anything like it, or so the highest financial authorities and their lapdogs in the news media told us – not in a cool, calm, and collected way, either, but in a breathless delivery that suggested imminent economic doom unless the government immediately undertook to "do something."

Credit Card Companies Slash Credit Limits: As if access to credit wasn't already tight, credit card companies are slashing consumer credit lines and closing inactive cards - a move that could harm borrowers' credit scores and restrict access to loans