Next to the nation’s capital in Maryland, we find a state suffering from a foreclosure growth rate of 345%.  The state went from 40th to 16th in the nation in ranking the states with the most foreclosures.  Ouch.

As we peel the subprime onion back more and more companies are affected.  Consider Google and Yahoo who make a good deal of money off the expensive “mortgage” based clicks in the pay-per-click advertising network.  MSN has stepped up and said that a lot of the mortgage advertising campaigns have been deleted.  Net metrics firms [...]

Australian hedge fund Basis Capital Fund Management Ltd filed for bankruptcy protection after indicated losses due to subprime problems could be over 80 percent.  With nearly $1 billion in assets in May, one has to wonder what kind of hedge they were playing.  Sounds like their hedging was more like going all-in in Texas Hold [...]