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Weak Retail Sales As Mortgage Crisis Puts Freeze On Consumers

by Charles Feldman | January 16, 2008

It is amazing how what started out as a subprime mortgage crisis has morphed into such an enormous economic mess around the world.
On Tuesday alone, the three major U.S. stock indexes went south by more than 2 percent.
Citicorp, the nation’s largest bank, had to write down $18.1 Billion for loses—loses stemming from the subprime crisis.
Tighter [...]

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