subprime mortgage crisis

Increasing numbers of women and elderly people are taking advantage of a scheme in one of America's wealthiest cities that enables the homeless to sleep safely in their cars at night.

There is a disconnect between the real and financial sectors in the American economy today. In the real economy, it was business as usual — almost, until recently. The fundamentals remain reasonably strong, with the subprime crisis yet to cast a shadow really and, to many people as of now, is but a speed bump.

Dysfunctional capital markets, frantic central banks, stressed-out consumers, fear and uncertainty -- all are alarming echoes of the global economic cataclysm of the 1930s. Which raises the inevitable question: Could another Great Depression be lurking over the horizon?

The subprime loan crisis might one day be regarded as the beginning of the end of the era in which the dollar reigned supreme as the world's key currency, the chief economist of Mitsubishi UFJ Securities Co said Wednesday (March 19).

What am I bid on financial sector losses from the US subprime mortgage crisis? Do I have advances on the $100bn suggested by Ben Bernanke, chairman of the Federal Reserve, only last July? Yes, I now have $500bn from the gentlemen from Goldman Sachs. Any advances on $500bn? Yes, I have $1,000bn-$2,000bn from Nouriel Roubini of New York University’s Stern School of Business. Any advances? Going, going, gone.

WALL Street banks are facing a "systemic margin call" that may deplete banks of $US325 billion ($351 billion) of capital due to deteriorating subprime US mortgages, JPMorgan Chase said on the weekend.

A few months ago, in a piece entitled “Subprime Geopolitics,” we addressed two questions. The first was whether the U.S. economy was heading into recession. The second was whether such a recession would represent anything more than the normal business cycle, or whether it would represent a fundamental, long-term shift in the way the American economy works. We answered that while the economy could reasonably go into recession — and we would not be surprised if it did — in our view, a recession did not seem imminent. As for whether such a recession would represent a fundamental shift in U.S. economic life, we answered, no, this would not be “the big one.”

Popular concern over the role of sovereign wealth funds is certainly understandable. In the aftermath of the US subprime lending fiasco, sovereign wealth funds have bought considerable stakes in some of America's most recognized firms. The pace of these high profile purchases seems to be about one per week. This has resulted in a field of alarmist commentary that ranges between the assertion that America is being "bought up" by Abu Dhabi, Singapore and China, and the assertion we are witnessing the eclipse of the American phenomenon.

CONCORD, N.H. -- New Hampshire homeowners, like those around the country, are increasingly likely to be forced into a mortgage foreclosure in coming months. But -- while it may be of little comfort to those individuals -- the state economy will be just fine, a state study released Monday found.

Home foreclosures in the United States soared to an all-time high in the third quarter, while homeowners with spotty credit who have subprime adjustable-rate loans were especially hard hit amid the housing industry meltdown.