Investors Await Commercial Real Estate Foreclosures

The 2009 Emerging Trends in Real Estate report released by PricewaterhouseCoopers LP and Urban Land Institute stated that the market value of commercial real estate is expected to bottom out in 2009, which could result in the increased flow of foreclosed properties into the...

U.S. Approves Plan to Help Citigroup Weather Losses

"Citigroup executives presented a plan to federal officials on Friday evening after a weeklong plunge in the company’s share price threatened to engulf other big banks. In tense, round-the-clock negotiations that stretched until almost midnight on Sunday, it became clear...

This Is Not A Normal Recession: Moving on to Plan B

""The Winter of 2008-2009 will prove to be the winter of global economic discontent that marks the rejection of the flawed ideology that unregulated global financial markets promote financial innovation, market efficiency, unhampered growth and endless prosperity while...

The Dirty Secret of the Financial Crisis: Our Banking System's Broken

"Henry Paulson's $700 billion plan to save the world is dead or dying, but the bailout was not killed by his arrogance or his grossly misleading claims about what the public's money would buy. The plan collapsed because it didn't work. The Treasury secretary has launched a PR...

Probing Golden West

"NEW YORK (AP) - The Department of Justice is investigating the mortgage lending practices of Golden West Financial Corp., the savings and loan bought by Wachovia Corp. for $24 billion at the height of the housing boom in 2006.U.S. Attorney Joseph Russoniello told The...

Investors Hit BofA Loan Modifications

Bank of America Corp.'s decision to embark on an $8.4 billion home-loan-modification program to settle charges brought by state attorneys general against Countrywide Financial Corp. was hailed as a milestone when the deal was announced this fall. But apparently nobody...

Panicked investors force Kuwaiti Stock market to close-Sellers-No buyers

"Trading on Kuwait’s stock exchange was halted yesterday by court order in a measure meant to stop a months-long slide while authorities try to find ways to reinvigorate the market. The halt to trading is the first to be announced in the Gulf even though stock markets...

Curse of Corruption

"THE not-so-new rulers in Islamabad are at pains to stress that what they seek above all from the international community is investment, not simply assistance. While this sentiment is admirable on face value, it goes without saying that the begging bowl will be Pakistan’s...

RBI opens doors to 10 VCFs amid liquidity crunch

MUMBAI: The Reserve Bank of India, which has been holding back applications of several foreign venture capital funds (VCFs) for a few years, is slowly opening the doors to these investors — a decision which could be partly driven by the dollar shortage following the FII...

Stocks plunge anew as recession worries resurface

"Wall Street falls sharply as investors, worrying about recess, ponder Obama impact on economy NEW YORK (AP) -- A case of postelection nerves sent Wall Street plunging Wednesday as investors, looking past Barack Obama's presidential victory, returned to their fears of a deep...

World stocks rally before U.S. vote outcome

" LONDON (Reuters) - World stocks hit a two-week high on Tuesday as investors shifted their focus to the U.S. presidential vote while they anticipated aggressive interest rate cuts from European central banks this week. Democrat Barack Obama holds a decisive edge over...

PAKISTAN BACK TO BEGGING under ‘DEMOCRACY’!

Pakistan’s foreign currency reserves are falling fast and if forward liabilities are included, the real reserves may go down to $3 billion. This cannot meet the import bill of one whole month. Out of total reserves of $8.467 billion, the reserves held by the commercial...