Subprime crisis Follow

WHEN the Irish finance minister, Brian Lenihan, in effect cut the pay of public-sector workers earlier this year by introducing a special 7% pension levy, he confessed that Ireland’s European Union partners were amazed at the muted public reaction.[...]

Its past midnight and having gone through a marathon session of reading in which I finished 3 business magazines, feeling rather tired. All that I can remember from all that I read is well… the world is really in RECESSION! :-D

Obama's visit to Caterpillar plant crucial to persuading Americans that he can turn around the economy

Alistair Darling has accepted that a second emergency package of tax and spending measures may be needed in this spring's budget to claw the economy out of a deepening recession, the Guardian has learned. Despite the deterioration in the public finances,[...]

Prompted by public concern over the economy and energy costs, President-elect Barack Obama and Democrats in control of Congress are touting a two-for-one solution: spending billions of dollars on alternative-energy programs to create jobs and help lift[...]

"Bridge-work challenges span Pennsylvania" and two other articles on infrastructure problems reinforce what engineers already know: Our bridges are no safer than they were a year ago. Our country's knee-jerk reaction to the disaster was to pay close attention[...]

Bird and Fortune - Subprime Crisis

Tom Dart, the sheriff of Cook County, Illinois, announced a moratorium on the eviction of tenants from foreclosed housing, stating that too many are innocent rent-paying victims with no prior notice of the pending foreclosure. As seen by Sheriff Dart,[...]

Tight credit markets continue to increase pressure on businesses far from Wall Street, fueling concerns of reduced spending and future layoffs. "Companies don't have access to short-term credit to fund operations, and if you can't fund operations you'll[...]

One family cuts up their credit cards, trading convenience for bare necessities.