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Article: Credit markets are still tight as stocks plunge
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- October 7, 2008
- Author:
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MADLEN READ, THE ASSOCIATED PRESS
The Record (Bergen County, NJ)
10-07-2008
Credit markets are still tight as stocks plunge -- Investors remain hesitant
By MADLEN READ, THE ASSOCIATED PRESS
Date: 10-07-2008, Tuesday
Section: BUSINESS
Edtion: All Editions
NEW YORK The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage assets.
If lending remains tight, it could cause more cash flow problems for the companies and municipalities that rely on the credit markets and banks for short-term loans.
"It's hard to exaggerate ...