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As US Expands Subprime Mortgage Program, Is a New Crisis Looming?

The Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development, has recently adopted new guidelines widening the scope of condo purchases eligible for lower down payment loans insured by the government. While that could lead to more members of certain social g..

Big Banks, Big Troubles: HSBC, Deutsche, Societe, and Citi Lay Off Thousands Worldwide

Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup is preparing to s..

Liquidity Difficulties in China: Second Bank Bail-Out Now Reality

Although it has its peculiarities, the Chinese banking sector now faces similar challenges to the west’s financial system. Dozens of small banks have been experiencing liquidity difficulties in the past few months. Observers believe the expanding problem has the potential to trigger a financial cris..

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