Carnegie Mellon University Libraries

A Guide to Learning About


	The Current Economic Crisis

Explanations


	Crisis of Credit Visualized And more "options" below:

Blogs


	Planet Money Atlanta Fed’s Commentary Baseline Scenario Econbrowser Nouriel Roubini Calculated Risk Financial Crisis and Recession Naked Capitalism Economist's View Brad Setser Paul Krugman Economics Roundtable - covers them all

The Recession


	What is it? Prospects for this one Best cities to be in Comparing them, back to 1857

Credit Default Swaps


	Explained Narrated Clearinghouse data (which may be undercounted) Where they began

Housing


	Government assistance to homeowners Changes in ownership and rental costs in 100 cities

Essential news of the crisis


	from the New York Times ... - S.E.C. May Reinstate Rules for Short-Selling Stocks - Europe Releases $1.7 Billion to Ailing Latvia - Risk Cuts at Morgan May Lead to a Loss - Beware of Rallies in Uneasy Times

Global headlines


	from BBC News ... - Sharp contraction for UK economy - French youth unemployment rises - Europe bank chief warns on debt - EU sets basis for finance reform

Financial market bulletins


	from Marketwatch ... - Raft of bank closures takes number of U.S. failures above 50 - Dow ends down 214 points in delayed close; indexes drop about 2% on week - NYSE to extend close by 15 minutes due to technical glitches - Crude oil falls nearly 4%, closing at $66.73 a barrel

Tutorial on finding the latest economic indicators

Try another approach: play the Economist.com's Credit Crunch game

Background

Stimulus

Interactive site detailing all the actions - loans, credits, rate changes and grants -with which the government is dealing with the crisis. From the Committee for a Responsible Budget, a bipartisan nonprofit sponsored by the Pew Charitable Trusts.

-	Text of ‘American Recovery and Reinvestment Act'
-	New York Times covers the stimulus
-	Wall Street Journal covers it
-	US Govt. "Recovery" website

Books

Try using these keywords: financial crises, credit, wall street, mortgage, markets, finance, banks, subprime

-	Books here in Hunt Library
-	Suggested titles from university presses

Bailout

Text of the bill, reports, etc. See press releases for updates on progress.

-	PPIP - Public Private Investment Program - the newest plan
-	TARP - Troubled Assets Relief Program
-	TALF - Term Asset-Backed Securities Loan Facility
-	See where the money is going
-	The Oversight Panel

Government


	Bills, statements, testimony, etc.

Podcasts


	from radio show Marketplace ... - How I'm helping the economy . . . - Very different states of unemployment - Weekly Wrap: What have we learned? - GM plans 'toxic' clearance sale

Podcasts


	from Bloomberg News ... - Thoma Says Fiscal Policy Needs 6 to 9 Months to Take Effect - Iris Lav Sees U.S. States Fiscal Distress Extending to 2011 - Weinberg Says Price Pressures Over Next 3 Years to Remain Low - Greenlaw Sees 10-Year Treasury Yield at 5.5% by End of 2010

Subprime mortgages


	Research papers on subprime and default: Subprime Mortgage Lending and the Capital Markets (a history of sub-prime before it was controversial) from the Fed. Reserve Bank of San Francisco, 12/01 Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures, from the Federal Reserve Bank of Boston, 5/08 Understanding the Subprime Mortgage Crisis from the Federal Reserve Bank of St. Louis and New York University, 8/19/08 Dynamic Map of Subprime Mortgage Conditions in the US - from the New York Fed, down to zip code level, updated monthly

This guide is a work in progress.


	Please send comments or suggested additions to Roye Werner, Business & Economics Librarian, Carnegie Mellon University, rwerner@andrew.cmu.edu. Thanks to Tepper Professors Spear, Routledge, and Hollifield for their assistance.

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