World-News

The International Monetary Fund (IMF) has warned credit crunch losses could reach $4 trillion (£2.75tn), damaging the financial system for years to come.

http://news.bbc.co.uk/2/hi/business/8009734.stm



World finance losses 'top $4tn'

Of the $4.1tn, an estimated $2.7tn comes from losses suffered from US financial institutions, the IMF said on Tuesday, double what it estimated six months ago.

http://english.aljazeera.net/news/americas/2009/04/20094211475795819.html



Profits rise at Bank of America

The bank said on Monday it earned $4.2bn in the first three months of 2009, compared to a $1.02bn profit in the same period a year ago.

http://english.aljazeera.net/news/americas/2009/04/2009420151621739686.html



Big banks have a big credit problem

BofA managed to post the big profit even as it set aside more than $6 billion to cover future loan losses. The bank's loan loss reserve now stands at $30 billion -- double its year-ago level.

http://money.cnn.com/2009/04/20/news/bofa.stress.fortune/



Goldman Sachs Shook Tens of Billions Out of Tax-Payers, Now They're Whining All the Way to the Bank

http://www.alternet.org/workplace/137561


From Information Clearing House



http://freepage.twoday.net/search?q=financial+system
http://freepage.twoday.net/search?q=economic+meltdown
http://freepage.twoday.net/search?q=credit+crunch
http://freepage.twoday.net/search?q=IMF
http://freepage.twoday.net/search?q=Big+banks
http://freepage.twoday.net/search?q=Bank+of+America
http://freepage.twoday.net/search?q=Goldman+Sachs
http://freepage.twoday.net/search?q=taxpayer
http://freepage.twoday.net/search?q=Dean+Baker