Federal Reserve policy makers saw “substantial” risks to the slumping economy last month as they cut the benchmark interest rate to a record low and pledged to expand emergency loans if necessary. Central bank officials believed ”the economic outlook would remain weak for a time and the downside risks to economic activity would be substantial,”…
Credit cards and commercial real estate are being carefully scrutinized for signs of trouble. In commercial real estate, it is believed that rising vacancy rates are directly related to the economy. And the added concern is the debt associated with commercial properties. Many commercial properties are financed using LIBOR-based 5 year balloons, with a credit swap…
U.S. stocks fell as Dow Chemical Co., the largest chemical maker in the U.S., and Rohm & Haas Co. plunged after financing for their merger fell through, raising concern companies may be unable to complete deals as funding disappears. The Standard & Poor’s 500 Index lost 1.2 percent to 862.49 at 10:44 a.m. in New…
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