The Bank of England stepped in with an offer of emergency credit today to bail out Northern Rock, one of the U.K.'s biggest mortgage companies. Stephen Beard reports it's just the latest sign the global liquidity squeeze might not yet be contained.
While much of the retail economy is feeling the pinch of subprime, luxury spending seems only to be growing. But Steve Henn reports the high-end market could be skewing retail numbers across the board.
A lot of economists have been notably optimistic about the subprime crisis, saying it wouldn't lead to a recession anytime soon. But a poll out today from Reuters may indicate a change of heart. Alisa Roth reports.
The greenback fell to an all-time low against the Euro today, mostly on speculation that the Federal Reserve is going to cut interest rates. But those cuts may have to be steeper than anybody expected. Stephen Beard reports.
Along with the speculation about whether the Fed's going to cut interest rates is a related idea that goes along with that -- whether a cut would reward speculators. Commentator David Frum says we shouldn't be too quick to judge.
Not all world markets are suffering from the subprime crisis. According to the Bank for International Settlements, emerging economies like India and Brazil have largely been spared. Alisa Roth reports.