A reporter's credit crisis

Edmund Andrews, an economics reporter for The New York Times, offers a unique glimpse into his own credit nightmare.
Although Andrews knew the Federal Reserve well and wrote stories warning buyers about specific mortgages deals, he ended up stretching his finances beyond what he could afford.
Andrews story on his "personal credit crisis," offers an in-depth look at how he accumulated $805,700 in subprime debt by believing he could beat the odds.
Read the story here.

The Fed's Global Plan

The Fed and four of the world's top central banks-the Bank of England, the European Central Bank, the Swiss National Bank and the Bank of Canada-are moving toward injecting cash into money markets. In today's announcement, the Fed says it will establish a temporary Term Auction Facility, in which "the Federal Reserve will auction term funds to depository institutions against the wide variety of collateral that can be used to secure loans at the discount window. " The first two auctions, one scheduled for Monday and the other December 20, will inject up to $40 billion into the markets.
And with the news, markets are up...
For the full release and global resources, click here.