"The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War. It will end eventually when home prices stabilise and with them the value of equity in homes supporting troubled mortgage securities."
The current crisis rocking the markets and global economy could turn out to be the worst since World War II, former US Federal Reserve chairman Alan Greenspan said in remarks published Monday by AFP.

"Pengassan wishes to alert Nigerians and other concerned citizens of this country of its commitment to direct all association members to embark on an indefinite nationwide strike with effect from Wednesday March 19, 2008, in protest against the manner in which Mobil Oil Nigeria has targeted job cuts in the downstream sector."
Nigerian white collar oil union Monday said in a statement it would withdraw all its members from oil fields and export terminals if US oil major ExxonMobil by Wednesday did not stop the ongoing reorganization at the company and recall the 67 workers it has laid off.

Updated: March 17, 2008