Welcome back!The financial crisis fills the news. Each day, we hear about more billions for stimulus packages to banks “too big to fail.”  We also hear dire warnings about the collapse of major corporations, such as the Big Three auto makers in the United States. The crisis is real, as it spreads throughout our entire [...]

In response to the global credit crisis, governments are buying ownership in banks. Often, we don’t recognize significant moments when they happen. We don’t see the events that change things forever. But the economic events of the last few days are a clear sign of enormous systemic changes that are underway around the world.
For weeks, [...]

The heart of the economic crisis right now is that the banks are unwilling to make loans. Even though governments are pouring money into the banking system, the banks are hanging onto the money.
The rescue program originally was sold to Congress and the public as a plan to buy mortgage-related loans from financial institutions. The [...]