This is a link to Caijing mag, about the US subprime loans, or Mei Guo Ci Ji Zai. All articles are in Chinese.
I found this article particularly interesting. And the following excerpt very entertaining (I can imagine Cramer’s body language when he shouted).
而更有人直言，本届联储主席伯南克很可能低估了信贷危机的严重程度。惯于以近乎撕心裂肺的腔调在CNBC电视台评论股市的著名财经主持人吉姆·克雷默（Jim Cramer），在8月10日本周股市收盘后，就大喊伯南克对信贷市场“毫无了解”。
Basically Cramer is saying Mr. Bernake, the US Fed chief, does not have any ideas about the US credit market. That certainly is not true. The story goes like this: the US investor bankers, mortgage companies created subprime loan and hedge fund. They made lots of money in the past 5 years. Now (suddenly) they found out many people can not pay the mortgage, and they are going to lose big. So they went to the Fed chairman and said: you should lower the interest rate and bail us out, otherwise the US economy will crash. On the other side of the story, many American are losing their homes because they can not pay the mortage, and the housing prices continue to decline.
Do you think the Fed chairman should listen to Cramer?