Arguing about bank nationalization

We’re edging towards nationalizing the banks. First, the government announces plans to insure loans to small businesses, saying that credit insurance markets fail in recession - which makes them as useful as umbrellas that don’t work when it’s raining. And now, it is thinking of buying banks’ bad assets, thus saying [more...]

Date: 2009-01-16 16:08:59

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Economic Potpourri December 30, 2008

The barrage of noteworthy economic news continues as we head into the new year ... to buy bad loansJapan's government and central bank are considering a $110 billion scheme to buy bad loans and other financial assets from banks to ease a credit crunch gripping the country's businesses [more...]

Date: 2008-12-31 02:58:00

BREAKING: Washington Mutual seized by feds, biggest bank failure in US history

WSJ:In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc ... after it got caught up in the booming part of the mortgage business that made loans to people with bad credit, known as subprime borrowers. Troubles spread to other parts of WaMu's home loan portfolio [more...]

Date: 2008-09-26 02:41:42

Paulson Testimony on Turmoil in U.S. Credit Markets

The following is testimony by Secretary Henry M. Paulson before the Senate Banking Committee today: ... . These bad loans have created a chain reaction and last week our credit markets froze – even ... credit markets that threaten American families’ financial well-being, the viability of businesses both [more...]

Date: 2008-09-23 12:36:34

Scroll for Updates:BREAKING: State Of Illinois Refuses to Do Business with Bank of America Because Republic Windows & Doors Was Denied Loans Due To Deadbeat Status

UPDATE: Ill. gov. jumps in to sit-in at shuttered plant Gov ... money is not to be used for bad loans.  We wouldn’t be in this situation had the banks watched ... workers last week that the plant would close, blaming a loss of credit with Bank of America, says Mark [more...]

Date: 2008-12-08 18:00:08

"UK 'bad bank' plan to boost loans"

More numptiness that won't work:Ministers are understood to be considering creating a state-owned "bad bank" ... loans on many banks' balance sheets - easing the pain of the credit crunch.It is one of a number ... , the BBC's business editor Robert Peston says that the "bad bank" envisaged "may yet fail to be born [more...]

Date: 2009-01-16 11:23:00

Fixing a Global Confidence Crisis

It's been called a crisis of confidence. It started with bad real estate loans and highly leveraged bets on those loans. Now it has frozen credit markets. Banks aren't lending to each other. Businesses can't ... credit, the financial crisis threatens to become a real economic one. And it's global. Welcome [more...]

Date: 2008-10-08 23:12:39

Citi to hive off India arms after global split

Citi Financial, one of the largest finance companies operating in India, may sport the ‘For Sale’ sign, ... or bad loan ratio in India for its credit card and consumer banking business in India rose to 6.3 ... loss of $8.29 billion. Citi Financial, whose businesses in India span mortgages, personal loans [more...]

Date: 2009-01-17 05:43:13

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