Blog: Waved Rumor

Wow - Forbes sums up the Wall Street liquidity crisis perfectly in one graf! Nice work! The U.S. -- and global -- financial system has been rocked over the past year by instabilities arising from the U.S. subprime crisis. Imprudent lending to American homeowners for overpriced real estate has led to a global credit crisis as loan defaults have brought into question the value of mortgage-backed securitiesthat provided the ultimate financing. That has led to a withdrawal of lenders from many of the world's credit markets, freezing up the banking system and calling [...]