Archive for the 'Collapse' Category
Tens of Thousands of Australians Are Unable Access Savings After Investment Companies Suspended Withdrawals
October 25th, 2008Via: The Age: PRESSURE on the Federal Government over its bank deposit guarantee has escalated after three big financial institutions hit with a spate of withdrawals by customers last night froze their accounts. Tens of thousands of Australians, many of them retirees, are now unable to get immediate access to their capital after AXA Asia […]
October 24: The 1929 Wall Street Crash Began on the Same Day
October 24th, 2008Via: Wikipedia: The Wall Street Crash of 1929 … was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout. Three phrases – Black Thursday, Black Monday, and Black Tuesday – are used to describe this collapse of stock values. All […]
CRASH ALERT: S&P500, DOW AND NASDAQ FUTURES LIMIT DOWN
October 24th, 2008Via: Bloomberg: Futures contracts on the Standard & Poor’s 500 Index and Dow Jones Industrial Average plunged by their daily limits on growing concern the financial crisis has infected the broader economy. General Motors Corp. declined 13 percent and Ford Motor Co. lost 14 percent after Toyota Motor Corp., the world’s second- largest automaker, reported […]
Roubini Says ‘Panic’ May Force Market Shutdown
October 24th, 2008Via: Bloomberg: Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said. “We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, told a conference […]
U.S Foreclosure Filings Up 71 Percent in Third Quarter
October 23rd, 2008Via: AP: The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71 percent from a […]
Icelandic Shoppers Clean Out Supermarkets in Wake of Currency Collapse
October 15th, 2008Via: Bloomberg: After a four-year spending spree, Icelanders are flooding the supermarkets one last time, stocking up on food as the collapse of the banking system threatens to cut the island off from imports. “We have had crazy days for a week now,” said Johannes Smari Oluffsson, manager of the Bonus discount grocery store in […]
Bank of America: Is It Just Me…
October 13th, 2008UPDATE 3: It’s Working Again It’s there now. * Twilight Zone Music * UPDATE 2: Telephone Banking Seems to Work I called back and used the automated system. I was able to check my account balance. UPDATE 1: My Checking Account Is No Longer Listed in My Online Banking Profile When I logged into online […]
German Bailout Likely to Be Over $400 Billion
October 12th, 2008Via: Wall Street Journal: German Chancellor Angela Merkel heads to Paris to present Sunday to her colleagues from the euro zone a financial sector bailout plan for Germany that’s expected to be more than half the size of what has been enacted in the U.S. A person familiar with the situation told Dow Jones Newswires […]
Austria Witnesses New Gold Rush
October 12th, 2008Welcome to the public participation phase. Via: BBC: Ordinary Austrians, shocked by the precipitous falls in their own stock market – which was suspended this week for the first time ever – are also looking for a more solid store of wealth. The shop at the Austrian Mint usually specialises in selling collectors’ coins. But […]
Florida: Elderly Man Jailed, Can’t Afford to Maintain His Lawn
October 12th, 2008UPDATE: Man Jailed for Brown Lawn Gets Help from Neighbors Via: St. Petersburg Times: On Friday morning, Joseph Prudente put on a pair of shorts and his “Grandpa Gone Wild” T-shirt. He took off his wedding band and put his heart medication in a plastic Wal-Mart bag. Then his daughter drove him to jail. Grandpa […]
