Commentary by Charles Feldman | January 16, 2008It is amazing how what started out as a [tag]subprime mortgage crisis[/tag] has morphed into such an enormous [tag]economic mess[/tag] around the world. On Tuesday alone, the three major U.S. stock indexes went south by more than 2 percent. [tag]Citicorp[/tag], the nation’s largest bank, had to write down $18.1 Billion for loses—loses stemming from the [...]
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Weak Retail Sales As Mortgage Crisis Puts Freeze On Consumers
by Charles Feldman | January 16, 2008It is amazing how what started out as a [tag]subprime mortgage crisis[/tag] has morphed into such an enormous [tag]economic mess[/tag] around the world. On Tuesday alone, the three major U.S. stock indexes went south by more than 2 percent. [tag]Citicorp[/tag], the nation’s largest bank, had to write down $18.1 Billion for loses—loses stemming from the [...]