Global financial crisis: The Story so far

The current financial turmoil is rooted to the sub prime crisis. During boom years, mortgage brokers enticed by the lure of big commissions, talked buyers with poor credit into accepting housing mortgages with little or no down payment and without credit checks.

http://economictimes.indiatimes.com/Indicators/Global_financial_crisis_The_Story_so_far/articleshow/3507868.cms

Weekly Oil Market Wrap: It’s a fair cop

We like to predict prices in this column but little could have saved us from the deluge of bad news we have had this week. We were wrong, shout it from the rooftops. But not for too long…

http://www.resourceinvestor.com/pebble.asp?relid=46325

Treasury plan lacks taxpayer protection: Sen.Schumer

WASHINGTON (Reuters) – New York Democratic Sen. Charles Schumer on Saturday said a plan from the Bush administration to bailout the financial markets is a good start, but lacks protections for taxpayers and homeowners.

http://www.reuters.com/article/idUKN2042265620080920

Canadian Securities Regulators Support Temporary Order Issued by OSC Prohibiting Short Selling

 The Canadian Securities Administrators (CSA) indicated support today related to the issuance of a Temporary Order by the Ontario Securities Commission (OSC) prohibiting short selling of securities of certain financial sector issuers that are listed on the Toronto Stock Exchange (TSX) and are also interlisted in the United States (with the exception of one issuer whose shares are interchangeable).

http://www.osc.gov.on.ca/Media/NewsReleases/2008/nr_20080919_csa-sup-temp-order.jsp

Treasury Seeks Authority to Buy $700 Billion Assets

Sept. 20 (Bloomberg) — The Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments from U.S. financial companies in what would be an unprecedented government intrusion into the markets.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1hr1v2FUeAg&refer=home