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Quotable
"The combination of rising delinquencies, higher foreclosures, more housing inventories, increasing interest rates on many mortgages and greatly reduced availability of mortgages due to limited liquidity is creating what we call a near-perfect storm for housing."
Kerry Killinger, CEO Washington Mutual, September 10, 2007
Commentary
Credit Bubble Bulletin
by Doug Noland | Dec 3
The risk trade was back on, although equities could not keep pace with surging commodities.
Read moreThe Bear's Lair
by Martin Hutchinson | Dec 6
Bailouts run the risk of producing a global meltdown in which bonds become worthless and confidence is lost forever.
Read moreFeatured Commentary
by Satyajit Das | Nov 16
Recent bank stress tests were effectively car "crash tests" where the testing authority deems the car cannot crash. A debt problem cannot be solved with even more debt.
Read moreGuest Commentary
by John Browne | Dec 9
Barring a miraculous internationalization of the yuan, precious metals have a rare opportunity to regain their historic status as the global reserve.
Read more
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