The Poverty Business

Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]

Date: 2009-01-15 00:45:24

Blog posts (546) | Videos (387)
 

The Great Pretender

Sorry for the lack of posting. Back to work after two weeks always is rough and I was in the process of having all the trees that fell down in the ... that are part of a serious economic contraction, credit extension contracts as the ability to repay debt ... hands of the credit impaired. South Korea, after decades of exposure to American culture, has [more...]

Date: 2009-01-05 23:43:00

No Cash Yet For Chrysler; Treasury Favors GM?

Although I don’t necessarily agree with The Wall Street Journal’s editorial this past Friday (January 2, 2009, pg. A14) ... government’s handling of the $17.4 billion loan package for the auto industry is a curious one. Ford isn’t receiving a penny of the funds, which is okay with them as they only wanted a line of credit to keep [more...]

Date: 2009-01-05 07:11:23

Tales from Bailout Nation

So what’s it called when lending institutions make loans to people without the necessary collateral or cash flow to pay off the loan? Of course, we all know that this is called a “sub-prime loan”.So what has GMAC, the “financing ... have thrown at them:The New York Times reports that GMAC has begun making loans to borrowers with credit [more...]

Date: 2009-01-10 00:59:00

Fiscal Therapy

Getting the economy back on its feet, giving taxpayers a break, saving your retirement fund and your kid's college tuition? Done. And it won't cost you a penny.David Cay JohnstonFor years now, whenever I've been invited to lecture students on how our tax system works, I have asked a simple question: [more...]

Date: 2009-01-12 09:26:00

How to keep on financing wind farms when banks have no money left.

My earlier wind diaries can all be found here: Wind power series Banks are engaged in a massive deleveraging exercise right now. One part of that has been much described and commented upon: the elimination of bad assets ... vulnerable to the credit crunch. And indeed, expectations are that the fourth quarter will show a severe [more...]

Date: 2008-12-23 17:13:33

Increase Your Credit Score - Use It or Lose It!

In case you did not know, I am a huge Dave Ramsey fan. This guy simply understands what it takes to truly become debt free ... not qualify for financing. I understand how the credit reporting bureaus calculate your credit ... and then pay these guys once a month. Not a bad deal….. That is until we were denied credit! Let [more...]

Date: 2009-01-02 21:44:16

Happy Days Are Here Again – The Resurgence of FDR

By Irwin Nowick This week we saw why in times of economic uncertainty the American people in their infinite wisdom always – as they must - turn to the Party of Franklin Delano Roosevelt and Harry Truman for their protection. Growing up on the North Shore of Long Island my late mother – heir to what on paper was the upper [more...]

Date: 2008-09-19 11:36:08

The New China, Bush Asks for TARP, 2009 Oil Surprise, Buy Turkmenistan and More!

by Addison Wiggin & Ian Mathias Chinese exports dive; oil imports, money supply and leverage rise… sound familiar? Bush asks for rest of $700 billion TARP… S&P says USA’s credit rating getting shaky Dan ... d been forecasting that because the economic paradigm “We think, they sweat” was a bad one — it was unlikely [more...]

Date: 2009-01-08 01:36:29

How Will Print Media’s Financial Problems Affect Its Coverage?

The question that is this post’s title occurred to me as I read through this report earlier today by Seth Sutel of the Associated Press ... for an industry awash in bad news, the newspaper business went through one of its most severe ... troublesome: Given the current poor climate for the business, (Emile Courtney, a media industry credit [more...]

Date: 2008-06-30 01:59:32

Is Hank Paulson Too Powerful?

In the last tumultuous seven days, one refrain was common from people on Wall Street: “Thank God it’s Hank in Washington taking care of this ... and his knowledge of the architecture of finance, as the man of the hour in this credit crisis: dealt a bad hand, but playing the cards the best he can. But as the Federal government’s bailout [more...]

Date: 2008-09-21 16:34:00

What is a bear market rally?

As the global financial crisis plays out, Report on Business writer Richard Blackwell examines and explains the economic outlook and the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top ... plants. However, some of the gas consumed in Ontario is imported from the United States [more...]

Date: 2009-01-08 11:05:51

Why India Won't Rebound Soon

By VEN RAMIndia's stock market may look attractive after its massive slide, but there's probably more pain to come. A host of economic and political challenges could keep a new bull market at bay for more than a year. .rssWindow { position:absolute; left:325px; top:570px; width:0px; height:0px; z-index:4; border: none; } [more...]

Date: 2009-01-06 18:56:00

Bad Credit No Problem

One of our vehicle’s lease is up in three month’s time. I am talking about my husband’s truck or pick up ... from getthebestautoloan.com. This was recommended to him by his friend where he got approved for a bad credit car loan. Having a bad credit is not a problem with them. Still they can get you the best rates [more...]

Date: 2008-09-16 18:21:41

The Credit Depression

Here they come. At the end of 2008, all the social and personal signs of a real depression were absent. They are making themselves present now ... a term from a reader on the message board which seems apt. It is the credit depression. This amounts ... economically in just a moment. But first, to the dictionary! In Latin, a creditum is a loan or thing [more...]

Date: 2009-01-08 01:29:32

The Credit Depression

Here they come. At the end of 2008, all the social and personal signs of a real depression were absent. They are making themselves present now ... a term from a reader on the message board which seems apt. It is the credit depression. This amounts ... economically in just a moment. But first, to the dictionary! In Latin, a creditum is a loan or thing [more...]

Date: 2009-01-08 01:35:28

Bridges

In mid-July in the United States we crossed a psychological river. Here's why:It became common to see $4.00 per gallon gasoline at the pumps ... credit can not long stand. When Harry swiped his Discover card to buy the gas for the Jimmy ... out their credit card statements, their mortgage note and second mortgage (that they got the great [more...]

Date: 2008-12-17 22:33:00

When Watchdogs Snore: How ABC, CBS and NBC Ignored Fannie & Freddie

The two mortgage giants Freddie Mac and Fannie Mae — seized by the government September 7 before they went completely bankrupt, at a potential cost to taxpayers of more than $25 billion — have been in obvious trouble for much of the past five years — with criminal investigations, accounting scandals, firings, resignations, [more...]

Date: 2008-09-25 21:05:52

How Will Print Media's Financial Problems Affect Its Coverage?

The question that is this post's title occurred to me as I read through this report earlier today by Seth Sutel of the Associated Press ... for an industry awash in bad news, the newspaper business went through one of its most severe ... credit analyst for Standard & Poor's) said: "I have doubts banks will be as willing as they were [more...]

Date: 2008-06-30 01:46:06

From Bad To Worse To Horrible To Holy Crap!

It’s Friday desk clearing time for this blogger. “After years of making Canadians feel steadily richer, ... said even more cases are coming as banks take bad loans off their books. ‘That’s when we’ll see why these loans went so bad, and there will be criminal investigations,’ said Curt Novy, a California [more...]

Date: 2008-11-14 20:26:25

My Frugal Story by Green Panda

The following is a guest post by Green Panda of Green Panda Treehouse.  If you like this post, consider subscribing to her RSS feed ... financial mistake was getting a auto loan for my current vehicle. I had one car loan before but got ... a nominal amount for rent at my mom’s place. I got a credit card in college and like many of my friends [more...]

Date: 2008-09-02 11:00:16

Next Stop For the Housing Crash: China

Chinese government economists and regulators are speaking publicly about systemic risks in real estate ... them to tighten loan approval processes. Lending standards at Chinese banks are notoriously lax. The Chinese government uses the institutions as cash machines to provide cheap financing with little [more...]

Date: 2008-07-24 11:35:00

The McCain Economic Council

ECONOMY This weekend, the U.S. financial system faced what the Washington Post called its “gravest crisis in modern times ... short-term financing,” and had its credit rating downgraded, leading to “urgent talks to put together ... to fail in the global credit crisis.” At the same time, “the credit crisis claimed another of America [more...]

Date: 2008-09-16 22:21:30

January 6 - Microsoft Mum? - Logitech Trims 525 - No Apple for 3000 LA Teachers? - Wind Blows Cold for 20% at DMI - 350 Gone at R.L. Stowe - IRS Files Away 711 - Brunswick Sinks 275 - Alcoa Cans 15,200!

Mike: States throughout the country are facing difficult financial times. Some states are running low on operating funds, such as CA ( ... : Missouri’s unemployment fund is broke and needs to be replenished:   * JEFFERSON CITY | Missouri ... Director Todd Smith said Monday that Missouri may have to borrow about $40 million from the federal [more...]

Date: 2009-01-06 13:18:38

Real Estate during a poor market

by Doc Schmyz OK a few ground rules for this article first. 1) Bad markets have happen before…and people still made money. 2) ... have gotten countless tips from other investors on investments and financing issues. Do not over look ... as finding the funding and the marketing/exit strategy as well. Finding financing Everyday [more...]

Date: 2008-10-20 20:33:15

Beige Book’s Midwestern Summary

From the Federal Reserve’s Beige Book (HTML, PDF). Economic activity in the Seventh District declined further in December, ... market conditions weakened. Construction declined, and manufacturing activity moved lower. Credit ... . In agriculture, field work was limited in December by bad weather. Consumer Spending Consumer spending [more...]

Date: 2009-01-15 01:00:38

Creative Financing In Large Real Estate Transactions

I have a friend who has fallen on hard times, and he owns home that is (was) ... the valuations have fallen so far. Use Your IRA To Help Reduce Your Mortgage Balance The first thing ... collateral that they can borrow against. In the case of somebody who is trying to finance (or refinance [more...]

Date: 2008-10-10 12:38:03

As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia

By Edward Hugh: Barcelona“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]

Date: 2008-12-25 16:01:00

Housing Bubble Death Trap

(This blast from the past originally appeared June 7th 2006, and it wasn't my first such article. It's still relevant, though. Keep in mind that San Diego has been on the bleeding edge of all of this, so we're likely to start our turn around sooner as well) The title was the wording of a search engine hit I got [more...]

Date: 2008-11-15 16:43:52

Toyota: Credit Not Responsible For Current Sales Slump, But Please Hurry Up And Fix! [Toyota Sales]

Jim Lentz, Toyota's US sales chief, told the Detroit News yesterday that consumer financing isn't their challenge right now; rather, ... are postponing car purchases. Dealers across the country are singing a similar tune, saying that well-qualified buyers can still get financing, but continuing bad economic news is keeping buyers [more...]

Date: 2008-10-10 14:00:00

Unforeseen Repercussions All Around In Florida

The Palm Beach Post reports from Florida. “Here in the eye of the nation’s financial storm, the Fed sits motionless, ... plenty of money’ in an equity loan.” “Silver said she wishes the Fed would cut rates and lenders would relax loan standards to boost home sales. But she is not optimistic for the short term. No matter [more...]

Date: 2008-08-07 14:10:02

Mortgage Has Become A Dirty Word

The Times Union reports from New York. “Condos are a relatively novel housing type in both Catskill and Greene County, meaning the Tower project was an experiment of sorts. The units were rentals at first, but Tower bought the Marina Drive property in 2003, added 14 townhomes to the site, and last year put them up for sale [more...]

Date: 2008-10-01 15:15:55

Gates of Vienna News Feed 10/5/2008

USABailout Bill Loops in Green Tech, IRS SnoopingCrowds Again Gather to Pray Before Image in WindowElection Precinct in Islamic Center That Hosted Extremist’s VisitMilitant Obama Youth March to ‘Alpha, Omega’ ChantN.Y. Times Whitewashes Obama-Ayers ConnectionRacism Without Racists Europe and the EUExtradition Bid Raises Fears of ‘Thought Crime’ [more...]

Date: 2008-10-06 00:49:00

Some Simple Debt Solutions For Getting Out Of Debt Faster

One of the most frustrating financial situations that a consumer can be stuck in is to be heavily in debt ... . There are good and bad companies when it comes to credit counseling, so knowing who you’re working ... to qualify for a loan when you really need it, simply because you don’t have the resources to pay down [more...]

Date: 2008-05-07 15:33:00

What GMAC’s financing means to you

The auto industry got another boost from the federal government this week, in the form of $5 billion in aid to GMAC, ... , but you can have a bad 621 and a good 621,” Griffin said about credit scores. “It doesn’t mean ... for consumers with less-than-pristine credit or those seeking a low financing rate on a new vehicle. Here’ [more...]

Date: 2009-01-02 14:00:09

Things You Tend Not To Spend Much Time Thinking Seriously About When Making A Decision To Relocate

I have had this item on my blogging to-do list for probably 18 months now, without attempting to address it ... s start with credit history, something discussed in this blog a long time ago. Or, rather, your lack of such overseas, which will hamper your efforts to obtain auto financing or even apply for local credit [more...]

Date: 2009-01-15 20:29:06

Dubai home loan debt incredibly low

Order my book online from this link Dubai’s sovereign debts have come under the microscope this week but nobody has highlighted the most unusual ... on home loans and bad debts for the banks. Dubai does not have this problem, or no more than a tiny ... conference: ‘The reality is that Dubai is not built just on credit. Dubai’s growth has been largely [more...]

Date: 2008-11-27 04:30:53

Deal Journal] Bottom Feeding: Banco Santander of Spain is in advanced talks to take full control of Sovereign Bancorp, ... the credit crisis? Look to a measure called Value at Risk, or VaR, explains Gordon Crovitz. WSJ ... a program to buy mortgage-backed securities. The United Arab Emirates will guarantee domestic bank [more...]

Date: 2008-10-10 14:10:24

No Credit Check Loans – No Bank Account Loan for You

No credit check loans are often hard to get but not impossible to obtain.  Having no bank account and poor credit can greatly hinder your chance of getting a low interest rate or even getting a loan at all.  Many banks and financial institutions will immediately disqualify you if you do not have a bank account and you are a very bad credit borrower; this does not mean that there is no assistance out there. [more...]

Date: 2009-09-28 19:58:06

Bank Recapitalization Options and Recommendation (After Citigroup Bailout)

By Peter Boone, Simon Johnson, and James Kwak (pdf version is here) Summary 1.       Debt and equity prices for U.S ... . 5.       While all recapitalization options have problems, the “least bad” is requiring firms to raise ... is designed to keep credit from becoming politicized and to sell the equity stakes when market [more...]

Date: 2008-11-25 11:28:40

New York City Bankruptcy Lawyer amp; Attorneys - Chapter 7

div style=’float: right; width: 100px; padding: 5px; margin: 5px; background-color: #FFFFCC;’font size=1font color=’#cc0000′bTip! ... include child support, taxes, student loans etc./ppOne bad aspect of filing for personal bankruptcy is that it will stay on your credit report for ten years. Obviously, this makes applying for new [more...]

Date: 2009-01-11 16:15:36

Some Truth About Credit

Credit is currently and has been historically an integral component of our economy. Credit contribute a person’s net worth, and financial power ... to repair my history and develop credit status that has allowed us to finance vehicles, mortgage and refinance homes, and acquire construction financing. So I know you can repair your credit history [more...]

Date: 2009-01-02 07:07:18

The Weakonomist Pays Off His Car

Yeah that’s right. If you haven’t been with me since the beginning this won’t look like much of an accomplishment ... , but I’m not that kind of guy. Even back in January of 2008 the car dealerships knew it would be a bad year, and I used the knowledge against them. I sent emails to the five closest dealerships telling [more...]

Date: 2009-01-05 13:29:12

Nouriel Roubini - Madman to Prophet

If you've never heard of Nouriel Roubini, don't worry, chances are his name will soon become a household word.“He sounded like a madman in 2006, He was a prophet when he returned in 2007.”He recently said that "things are going to get much worse" with the unemployment rate going above 9% next year which according to the Bureau of Labor [more...]

Date: 2008-12-26 13:38:00

Rainbow Financing

Believe it or not, a certain company exist nowadays that provides Car loans to everyone. Yes, they offer the cheapest loans with the best APR rates ... your own car and credit history is not a problem with them even if you had good or bad credit before ... , they are still serving many people that are looking for the best loan company in town. Rainbow [more...]

Date: 2009-01-13 22:36:00

What Sort of Loan Can I Get? (October 2008)

Having had two separate very qualified buyers ask me if they could get a loan in the last two days was kind of an eye opener to all of the hype out there about how difficult it is to get a loan currently. Things have swung just as far ... it significantly harder to qualify for a loan than they really should. This won't be permanent [more...]

Date: 2008-10-23 13:44:13

Credit Crisis Timeline

This is lifted from American Thinker, and by the way to the editor if you'd prefer I not take so much of the text leave comment or email me, ... to my article Why banks aren't the bad guysThe Growing Government Hand1933-1938President Franklin ... backed by the Federal government.1970President Nixon chartered Freddie Mac, the Federal Home Loan [more...]

Date: 2009-01-02 12:09:00

8 Tips to Financial Stability for Small Businesses

This is a guest post by my business partner George.  Each owner of Pure Adapt will be writing a post while I’m on vacation. Financing a small business can be very stressful when you are working with limited capital ... to assess how good or bad your business is doing. By entering everything into QuickBooks [more...]

Date: 2009-01-08 02:47:55

Multi Payment Payday Loans

Do a little funds for an unforeseen circumstances which lead to unexpected emergency it is right now and many barely surviving from friends and ... do not check the credit checks loans. Pay the entire thing off and not take it out again, then the loan ... it is not smart to take out the application with a few basic details. Those with bad credit borrowed [more...]

Date: 2009-01-06 05:54:24

Low Interest Auto Loans - How to Get the Best Car Loan Deal

Tip! Try to find an auto loan with an affordable monthly repayment that you can pay back in as short a timescale as possible ... a top priority. Each year, millions of car buyers obtain bad auto loans. These include upside down ... Your Credit Rating before Applying for New Auto Loan Your credit rating will determine the type of auto [more...]

Date: 2009-01-01 05:47:12

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