An AIG bankruptcy maybe next given their liquidity crisis caused by losses in their derivatives which require an influx of capital to cover. AIG’s credit rating was downgraded yesterday which combined with a widening credit crisis makes bankruptcy more likely.
AIG Bankrupt: Mortgage Crisis and Credit Rating to Blame
Another financial giant, American International Group or [...]

A Black Monday scenario for the US stock markets is unlikely due to quick action by the Federal Reserve to add liquidity with rule changes and the creation of a 10 bank cooperative that put $70 Billion into an emergency fund.
Black Monday Averted
Six Reasons Today Will Not Be Another Black Monday on Wall Street
Remember the [...]

WaMu stock is off by 14 percent today due to 380 million shares being held by short sellers, those who believe the mortgage crisis will drive WaMu stock down even further. Washington Mutual (NYSE: WM) is one of the banks who the street believes holds a huge exposure to subprime mortgages.
WaMu Stock – Short [...]

National City Corp (NCC), a large Midwestern bank which during the real estate boom boasted a healthy income from their wholesale mortgage division, got in trouble with the bank regulators back in June and are now being sued by their stockholders.
National City – Bank Under Scrutiny
The Office of the Comptroller of the Currency issued National [...]

The media in search for bad news recently reported North Carolina (NC) as having the worst unemployment number in 5 years with a month-over-month seasonally adjusted joblessness figure up from 5.9 percent in June to 6.6 percent in July.
On further research, the NC unemployment picture is not as bad as this one statistic [...]

Chrysler Financial did not raise the entire $30 Billion in capital they were seeking mainly due to the spreading of the credit crunch brought on by the mortgage crisis. Chrysler Financial is the lending arm of the auto maker and tight credit won’t help slumping sales.
Chrysler Financial obtained $24 billion instead significantly below the [...]

The mortgage meltdown is spilling over to other financial companies like Discover Financial Services the issuer of Discover Card. Discover stock price dropped yesterday 6.8 percent closing at $14.34 per share.
Discover Card Not Alone In Mortgage Crisis
Early in the week JPMorgan Chase and Co. reported to regulators it’s mortgage related losses topped $1.5 Billion [...]