As lawmakers return from their two-week spring recess, more a more voices are calling for a mortgage bailout. All those greedy people who profited from the housing bubble are now expecting the federal government to come to the rescue.

In an attempt to calm investors' nerves after posting $1.6 billion in losses on $3 billion in write-downs, Ambac CEO Michael Callan jumped on the bandwagon with all of the other financial company CEOs by implying that the credit crisis was past its nadir.

Autism campaigners in the United Kingdom have urged Prime Minister Gordon Brown and his Chancellor Alastair Darling to help families with autism during the present financial turmoil.

The five-year-old Iraq conflict is America’s first “credit card war.” And like anyone who has run up a huge credit card bill knows, a credit card debt can turn into a crushing burden with long-term consequences. This, too, will be a legacy of the Iraq War.

IMF says Credit crisis spreads to other mortgage, corporate debt markets. Crisis creating serious macroeconomic feedback effects. Most emerging markets so far insulated from effects of turmoil. Despite the deteriorating credit situation in the United States, some lenders are still advertising attractive rates for mortgage borrowers.

Just when investors thought the recent share market turmoil was showing signs of abating, Australia third biggest bank has revealed more fallout from the global credit crisis.

Anyone of legal age is able to apply to get a loan, financial institutions however, want to be able to separate trustworthy borrowers from potential bad borrowers, therefore they use a scoring system known as a credit rating.

Australia's financial system remains strong despite the continuing global credit crisis, according to the governor of the Reserve Bank.

Over the past few weeks, the Federal Reserve added to its alphabet soup of new facilities to deal with ongoing strains in financial markets. Taken together, these programs represent a clever gamble to provide large institutions some time to get their financial houses in order. Fed officials have effectively rewritten the rules on the role of a central bank in a market economy.

CIT Group Inc. negotiates with overseas banks to find a steady stream of cheap funding to finance its core lending business.

The news has been filled with daily accounts of the credit markets demise and the effects of the collapse on the finance and real estate industries. But does the financial collapse of the credit markets hurt your chances of getting a Reverse Mortgage?

As is being reported in the news, there is an ongoing storm in the financial world; a situation where banks are wary of lending to each other and as a result, there is less money available for new debtors, a situation otherwise known as the credit crunch.
What does this mean for the ordinary consumer?