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Well it’s happening…the government is taking over Fannie Mae and Freddie Mac as soon as tomorrow…well this morning. These two mortgage lenders either back or actually hold HALF of the country’s mortgage debt…and they’re obviously in trouble. According to the AP, a government bailout …

The big 3 auto makers in Detroit are planning on going to congress to ask for a $50 billion loan. They say it’s not a bailout, just an investment into more fuel efficient cars and to update factories.
Now let’s see, in the last year …

European bank HSBC reported a 29% drop in first half profits. In the same half in 2007, HSBC posted a $10.9 billion profit, while in the same half this year they posted a $7.7 billion profit.
HSBC holds Household International Inc. partially responsible for the …

On Friday, federal regulators seized IndyMac’s bank assets. The lender was overtaken because of falling home price and increasing foreclosures. It has become the second largest financial institution in the United States to close…ever.
I find it strange that this came the same day speculation about …