Nevada Business Indicators Announced
More than two years after U.S. housing markets started rebalancing and a year after financial firms became bogged down in bad paper, markets concluded that the 
recovery failed to get traction. Financial firms were unable to correct their problems, resulting in credit markets failing to operate. In short, the Treasury and Fed failed to stem the tide.
In the span of one week, spreading financial contagion sent Fannie Mae and Freddy Mac into receivership. Merrill Lynch merged with Bank of America, Lehman Brothers collapsed and AIG also went into receivership. Facing rising adversity, the Bush Administration went to Congress seeking legislation that would enable the Treasury to purchase assets of troubled financial firms. The Administration hoped to prevent further disruptions in markets. At the time of this article, a solution had not been determined and the winners and losers had not been identified. Read more:
Technorati Tags: Keith Schwer, Nevada Business Journal, Fannie Mae, Freddy Mac, Merrill Lynch, Bank of America, Lehman Brothers, AIG, NCET, Nevada’s Center for Entrepreneurship and Technology
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