Road to Depression

CIT Group receives $4.5 billion from creditors!

NEW YORK - October 28, 2009 - CIT Group says it has received $4.5 billion in credit from lenders and bondholders as it tries to avoid collapse.

Road to Depression

Number of foreclosures double in Washington area!

WASHINGTON - October 28, 2009 - The number of Washington, D.C. area homeowners in foreclosure has more that doubled in the past year, according to a report to be released Wednesday that shows the problem remains most acute in a few counties and could get worse as more borrowers fall behind on their payments.

Road to Depression

New home sales fall faster than expected!

WASHINGTON - October 28, 2009 - The number of buyers snapping up new homes dipped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wear off.

Road to Depression

Current economy at 26-year low!

NEW YORK - October 27, 2009 - A key measure of consumer confidence continued to slip in October, with consumers' gauge of the current economic situation falling to a 26-year low, a research group said Tuesday.

Road to Depression

U.S. Steel posts third straight quarterly loss!

PITTSBURGH, Pennsylvania - October 27, 2009 - United States Steel Corp. said Tuesday it lost money for a third straight quarter as the global economic downturn continued to dampen demand for the metal.

Road to Depression

Big commercial lender Capmark files for bankruptcy!

NEW YORK - October 25, 2009 - The Capmark Financial Group, the big commercial real estate finance company cobbled together from pieces of GMAC, filed for bankruptcy on Sunday after struggling with a heavy burden of failing loans and debt stemming from its leveraged buyout three years ago.

Road to Depression

AMBROSE EVANS-PRITCHARD: Food will never again be so cheap!

Biofuel refineries in the U.S. have set fresh records for grain use every month since May. Almost a third of the U.S. corn harvest will be diverted into ethanol for motors this year, or 12% of the global crop.

By Ambrose Evans-Pritchard

LONDON, England - October 25, 2009 - The world's grain stocks have dropped fr

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