November 17, 2008 (LPAC)–Cargoes are rotting on the docks around the world, unable to be delivered, due to a lack of financing. The shipping business depends upon letters of credit: for cargoes to move, the shipper needs to know when he puts a cargo on a ship that the buyer at the other end will [...]

Financial crisis cost moves toward $20 trillionPosted Oct 28 2008, 06:27 AM by Douglas McIntyre No one with an abacus, a calculator, or a mainframe will ever know what the global credit crisis has cost in real money. Lost jobs means lost tax revenue. Lost bank capital means a drop in share values. Government aid [...]