Fed Tries to Unclog Credit Markets With $900 Billion

" The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe. The Fed's action is aimed at spurring...

London England - £2.2bn emergency fund could pay for Olympic village

London's 2012 Olympic Village may get a much needed cash injection. "Ministers are considering using an “untouchable” £2.2bn emergency fund to build the troubled London 2012 Olympic village. Plans are being drawn up to rescue the project - in danger by the credit crunch...

Shop owners srtip off in protest

Several of the male protesters were ‘outed at the demonstration, when they removed their trousers to reveal they secretly wear women’s underwear. None were available for comment."Small businesses owners who say they went bankrupt because of the design of a Lend Lease...

House Approves Bill to Restrict Mortgages

"House Approves Bill to Restrict Mortgages "With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by forcing them to get licenses, making them responsible for discovering whether borrowers can really repay and fining them for...

British banks shun £10bn cash auction

"British banks shunned the Bank of England’s auction of three-month money on Wednesday, submitting no bids to borrow the £10bn on offer. The dearth of demand for three-month cash – a market that has been strained of late – was the result of “a significant fall in...

A Pipe Was Detached Before Deutsche Bank Fire

" SARAH GARLAND Staff Reporter of the Sun August 21, 2007Fire officials investigating the deaths of two firefighters in the former Deutsche Bank building have found that demolition contractors failed to maintain a standpipe used to supply water to the building. The...

Beslan School Siege Video Uncovered

"Beslan School Siege Video Uncovered Updated: 19:26, Tuesday July 31, 2007 New video has emerged which appears to lend weight to the theory that Russian security forces botched the Beslan school hostage crisis. A total of 334 people died after two large explosions triggered a...

Home Mortgage Broker nears bankruptcy

The  long-awaited "sub-prime" crisis may yet be heralded by the bad news released today about Home Mortgage Investment Corp. and its reported troubles making payments. And yet - consumer confidence in the US continues to surge ahead of other business indicators (see...

Social lending the next Web 2.0 phenomenon

"The basic idea with social lending is that when you need money, others will pool their funds together and lend them to you at x% interest rate. Prosper uses your credit score to determine your risk rate and then based on that risk rate you bid for the loan with your terms....