By Nabil Ahmad Approximately 14 months ago a financial crisis began, and it has now entered a new, far more serious phase. Remaining hopes that the damage could be limited to just a few financial institutions that simply made wrong business decisions is no longer there. While the original problem was subprime mortgages, the entire banking industry is now in trouble. And this has been the worst financial crisis since the Great Depression. The Federal Reserve and Treasury officials have [...]
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