The Credit Crisis Center

Comment by JJ Hornblass on September 15, 2008 at 4:55pm

Dow Jones Industrial Average ended the day more than 500 points lower, as questions continued to swirl about American International Group and other industry giants. AIG shares dropped more than 60% as the insurer raced to restructure. Washington Mutual shares fell 27% and Wachovia declined 25%. Bank of America, which agreed to buy Merrill Lynch, saw its shares fall 21%. The S&P 500's financial sector declined 9%. (WSJ.com)

Comment by JJ Hornblass on September 16, 2008 at 11:30pm

A discussion of the Fed's $85 billion credit facility for AIG is taking place here.

Comment by JJ Hornblass on September 19, 2008 at 9:08am

Click here to read the Federal Reserve's short statement today on its plan to purchase short-term debt from Fannie Mae, Freddie Mac, and the Federal Home Loan Bank.

Comment by JJ Hornblass on September 19, 2008 at 9:44am

Local newspapers are calling Kfw "Germany's Dumbest Bank. See here. Remarkable.

Comment by JJ Hornblass on September 23, 2008 at 9:34am

My favorite recent Paulson quote:

Paulson, on conservatives saying this "smacks of socialism": "This is big government intervention. I think this is an unprecedented time. We have a system, a regulatory system that was broken. There are excesses in the system. And I have never, as a philosophy, thought intervention was good. I would just tell you it's necessary right now."

Comment by JJ Hornblass on September 23, 2008 at 9:55am

Washington Mutual Inc 09:30 AM ET 09/23/08 NYSE

Last: $2.99

Change: -0.34

% Change: -10.21

Volume: 2,164,644

Comment by JJ Hornblass on September 23, 2008 at 6:06pm

Berkshire to Invest $5 Billion in Goldman Sachs

Comment by Victoria Fierson on September 24, 2008 at 3:40pm

Warren Buffett urges Congress to act to avoid an "economic Pearl Harbour"

What do members think of the bailout proposal? Given his investment background, does Buffett's $5 billion investment in Goldman Sachs along with his support of the bailout proposal have any influence on member perspectives?

Comment by JJ Hornblass on September 25, 2008 at 11:52pm

American International Group Inc., the largest U.S. insurer, drew down $44.6 billion on its $85 billion credit line from the Fed today, up from $28 billion as of Sept. 17, the central bank said.

Comment by JJ Hornblass on September 26, 2008 at 1:20pm

[WB] Wachovia CDS spreads widen by 827 basis points: CDR 12:13 PM ET, Sep 26, 2008

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