How Did We Get into This Mess?

How Did We Get into This Mess? The Origins of the Housing Crisis. Alan Greenspan, the former chairman of the Fed, said in a recent Wall Street Journal interview that an end to the decline in house prices is “a necessary condition for an end to the current global financial crisis.” The question remains: How did we get into this mess?

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Lehman's Demise Triggered Cash Crunch Around Globe

The decision to let Lehman collapse sparked a chain reaction with global reach. This discusses the events leading up to, during and after Lehman's bankruptcy filing.

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The economy's 3 vicious cycles

The financial crisis consists of three related cycles spinning downward: Confidence, deleveraging and housing. Be careful trying to stop them.

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Financial rescue 101: What's in the bill

What got killed: The fate of the most sweeping government rescue since the Great Depression is in doubt after the House voted against it Monday. Here's what was in the package.

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A Look At The European Banking Situation

The bank bailout has extended to Europe, where infusions of government cash rescued some struggling financial giants. Analysts predict the result of the crisis will be a major consolidation of European banks.

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BBC: Excellent graphic representation US sub-prime crisis

The US sub-prime mortgage crisis has led to plunging property prices, a slowdown in the US economy, and billions in losses by banks. It stems from a fundamental change in the way mortgages are funded.

This article was written in November 2007 and provides an eerily accurate forecast for what has unfolded so far in 2008, a must read.

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Could Wall Street Woes Set Off A Global Crisis? : NPR

The bankruptcy of financial services giant Lehman Brothers and the 500-point drop in the stock market on Sept. 15 have sent shock waves through the financial community. Law professor Michael Greenberger discusses the potential global ramifications of the recent turmoil.

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The Week America's Economy Almost Died

When short-term credit markets seized up last week, many economists and regulators say America faced a terrifying abyss. The nation risked becoming a place where no banks would lend and no customers could buy, where no one could get paid and commerce would cease — perhaps for decades.

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WSJ.com - Opinion: Let's Get the Bank Rescue Right

There's time to consider improvements to the Paulson plan.

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