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Time for EU Politicians to Act on Credit Crisis

Spiegel - The European Union is increasingly worried about the growing credit crisis. The EU Commission on Wednesday said it is considering new rules to improve oversight. German commentators say it’s about time politicians did something.

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As U.S. economy slows, credit card crunch begins

IHT - First came the mortgage crisis. Now comes the credit card crunch. After years of flooding Americans with credit card offers and sky-high credit lines, lenders are sharply curtailing both just as an eroding economy squeezes consumers.

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Speculators, Politicians, and Financial Disasters

Commentary - Fueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began to fail. Soon the economic troubles spread beyond real estate. Depression stalked [...]

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The U.S. Economic Crisis: Three Growth Scenarios

BusinessWeek - The financial crisis is a symptom, not a cause. At root, this is a crisis of the entire global economy as it has developed over the past 10 years. The U.S. must solve its trade deficit and invest its credit wisely.

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