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NEW YORK - GOLDMAN Sachs Group Chief Executive Lloyd Blankfein said on Thursday markets are probably in the late stages of the global credit crisis that began last summer, but he would not predict when it will end. 'We're closer to the end than the beginning,' Mr Blankfein said at the bank's annual shareholder meeting. 'I think we're getting to that point where people are seeing the light at the end of the tunnel.' He estimated the markets are more than half way to recovery, but declined to forecast how long the crisis would persist. 'Maybe we're at the end of the third quarter, beginning of the fourth quarter,' he said, though he cautioned that a recovery may still take a long time. 'If you watch sports, sometimes there's a lot of timeouts in the fourth quarter. It takes longer to play than any of the other quarters, and sometimes it ends in a tie and goes into overtime.' That said, Mr Blankfein told shareholders that Goldman always ...

Despite a weak economy, railroad, trucking and homebuilding stocks are faring well, perhaps a sign that investors are banking on a recovery. By Alexandra Twin, CNNMoney.com senior writer NEW YORK (CNNMoney.com) -- Despite overwhelming signs that the economy is now in a recession, some investors are increasingly pondering another 'R' word: Recovery. Although a turnaround appears to be far off, there are some early signs that Wall Streeters may be already positioning themselves for a rebound. For example, a recent spate of bad corporate and economic news hasn't wreaked havoc on the markets, suggesting a floor has been put in place after months of heavy selling. Additionally, railroad, trucking and homebuilding stocks have been rallying - a surprising occurrence considering those sectors have been among the hardest hit by the credit crunch. "We're waiting for the economy to start showing it is recovering and that's keeping stocks stable right now," said Ron K...

7 ways to keep your name off the layoff list when the ax falls. By Donna Rosato, Money Magazine senior writer Last Updated: April 9, 2008: 6:32 AM EDT (Money Magazine) -- As surely as baseball heralds the spring, poor economic reports presage layoff season. According to Mercer Consulting, one in three midsize to large U.S. companies is pondering job freezes or downsizing. Besides the obvious no-no's - completing projects late, griping noisily about the boss - here are seven strategies for deflecting a pink slip. Add revenue A company's first layoffs are usually aimed at jobs that cost money (like public relations) rather than jobs that bring in money (like star salespeople). If you're in the first category, start thinking like someone in the second: Brainstorm ways to create new revenue streams and send them up the ladder. Even if they don't get adopted, your boss will think of you as part of the solution, not the problem. Practice conspicuous parsimony Suggest cost-cut...

WASHINGTON (AFP) - - The US economy is likely in a "modest recession" and will stagnate through much of 2009 as housing prices slide further and credit conditions remain difficult, the IMF said Wednesday. The International Monetary Fund said in its World Economic Outlook that the world's biggest economy would see growth overall for 2008 of just 0.5 percent, even with a massive tax rebate program designed to boost consumer spending. For 2009, improvement will be scant, with growth averaging a meager 0.6 precent. The IMF said even with the 168-billion-dollar stimulus and aggressive cutting of interest rates by the Federal Reserve, the US economy is still being hammered by the housing market crisis and a related credit squeeze. "There are clear signs that housing weakness is now feeding through into labor markets and consumption," the semiannual IMF report said. "Rapidly weakening consumer and corporate sentiment suggest that downward pressure on domestic spen...

PARIS - THE subprime crisis is not over, the head of the OECD Angel Gurria said on Wednesday, describing it as a 'collective bankruptcy' and damning failures throughout the chain of financial risk and regulation. Mr Gurria was particularly critical of supervision of the financial sector, telling the French newspaper Liberation that the rules 'were not sufficiently respected or were not strict enough.' He said: 'The entire institutional chain, well oiled, all this sophistication, on Tuesday the pride of the authorities, has been put into question by this collective bankruptcy.' In this respect, he pointed his finger at 'the banks, the investment funds, intermediaries, the credit rating agencies, the insurers.' The Organisation for Economic Cooperation and Development works on behalf of 30 industrialised nations to study conditions in many areas of economic management and to advise on best practice. On Tuesday the International Monetary Fund estimated that...

By Jeffrey Ptak, CFA, CPA As many of you know, we recently made some exciting changes to our ETF research. We've written at length about our approach to ETF research, what makes it different, and how investors can benefit from it. But sometimes a picture--or, in this case, a sample Analyst Report--is worth a thousand words. - Wall Street--that is, the nameplate banks, brokerage houses, exchanges, and specialists that comprise the financial world's nerve center--has gotten rocked recently. Bear Stearns (NYSE:BSC - News) imploded amid vanishing confidence in its ability to make markets. The big brokerages like Merrill Lynch & Company (NYSE:MER - News) and Morgan Stanley (NYSE:MSNews) have been laid low by massive write-offs. Lehman Brothers (NYSE:LEH - News) recently had to raise $4 billion in capital in order to allay fears that it was the next domino to fall. And that's to say nothing of E*Trade Financial Corporation (NasdaqGS:ETFC - News), which nearly collapsed, ...

By George Mannes, Money Magazine senior writer Everywhere you look, bad news abounds. The falling stock market, the floundering economy, tumbling home values, vanishing jobs - it's enough to make you want to hide your money in a lockbox and throw away the key. Don't. "The last thing you want to do is panic on short-term economic news," says Houston financial planner Tom Jackson. "That could have dreadful long-term results." Still, it's not imprudent to tweak part of your portfolio to hedge against the four worst risks - let's call them the Four Horsemen of the Subprime Apocalypse. Such hedges may not come cheap, since everyone wants the same protection these days. But they can buy you the peace of mind you need to keep the bulk of your money in the game. Inflation Consumer prices are already rising 4% - more than double the rate in early 2004. As the Federal Reserve slashes interest rates to keep the financial system afloat, it could be building the...