Some Observations on Where We Stand In the Financial Situation

By Irwin Nowick I had hesitated to make too many observations about the financial sector because it keeps on changing daily ... McCain - is now talking tough on debt instruments such as credit-default swaps and wants ... . More importantly, they are also the one’s who have problems getting loans and maintaining lines of credit [more...]

Date: 2008-09-24 04:51:03

Blog posts (551) | Videos (361)
 

Dow plunges 679 for 6th triple-digit loss in a row

A runaway train of a sell-off turned the anniversary of the stock market peak into one of the darkest days in Wall Street history Thursday, ... in the final hour of trading, sellers had only begun to hit the gas pedal. As bad as the day was, even ... closed at its record high of 14,164. Since that day, frozen credit, record foreclosures, cascading job [more...]

Date: 2008-10-10 03:11:14

Where Are We Today? A 10-Item News Roundup

It’s almost impossible to follow everything that’s going on in the economy these days ... . 10. Stuck in a bad economy, some Latin American immigrants are turning around and going back home. ... their money in U.S. Treasury bills instead of extending credit to one another or to stretched customers [more...]

Date: 2008-10-02 15:00:42

HOUSE SAYS NO: BRING ME THE HEAD OF BARNEY FRANK

The U.S. House today rejected an historic $700 billion bailout of Wall Street despite legislative leaders’ appeals to rank-and-file members that ... qualify for a loan, F&F would make sure the banks had access to the money to make that loan, cheap ... incomes, fewer assets or less-solid credit. Barney and friends used the regulations of the Community [more...]

Date: 2008-09-29 18:38:19

FHA chatter; News from MERS, Wells, Flagstar; Home price index not as bad as feared

  As my grandfather used to say, “If you find yourself in a hole, the first thing to do is stop digging.”* Apparently the folks at Sunwest Bank , out of Tustin, CA, felt the same way. Clients received a letter saying, “I regret to inform you that as of October 2, 2009, Sunwest Bank will be suspending its mortgage banking operations. [more...]

Date: 2009-09-29 19:04:07

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

Seeking Shelter: The World’s Only IPO, Courtesy China

It seems appropriate that the only IPO pending during this global economic crisis involves bomb shelters. China’s Renhe Commercial Holdings Co ... and businesses struggle to bring the unfolding credit crisis under control. Renhe needs cash to proceed ... to complete the project. Renhe has been unable to get bank loans to facilitate its plans. “The [more...]

Date: 2008-10-13 06:02:13

Who’s To Blame for Tech’s Woes? You and Me

The last time technology investments took a hit, it was easy to look around at the scattered sock puppets and dark fiber, ... t their wholehearted embrace of the web — it’s consumers’ wholehearted embrace of credit. That’s right, this tech ... debt, in the form of home equity loans and credit financing, which they’ve used to buy fancier cars [more...]

Date: 2008-10-31 04:01:17

Five good things about bad times

Sometimes it’s hard to see that good can come from bad - especially when you’re in the middle of a tough or traumatic experience. But in reality ( ... (financial or personal) so many of us are going through. Here are 5 unexpected benefits from living through the bad times: 1. Seeking Self-knowledge.  Ok, you lost or job, and that is sad and scary [more...]

Date: 2009-01-06 04:42:06

The First To Fall And The Last To Rise

The Manteca Bulletin reports from California. “In the go-go days of stratospheric housing price increases some newer neighborhoods - such as Woodward Park, Diamond Oaks, and Villa Ticino - were seeing prices jump as much as $5,000 a month. Now those neighborhoods have returned back to earth as closed deals so far this month signal that banks are [more...]

Date: 2008-10-11 18:59:11

Freddie Mac and Fannie Mae in 5th grade terms

Economic Lessons from the 5th Grade-" “The Government's view of the economy could be summed up in a few short phrases: If it moves, tax it ... and has been discredited. The credit crisis was not the fault of capitalism but with anticapitalism ... them insuring the bad loans they were making. But how do you explain this so a fifth grader [more...]

Date: 2009-01-08 08:09:49

Mean Street: Keeping Sane in the Loony Bin

Rational markets? Are you kidding? Friday’s 1000-point swing in the Dow has gone and buried that notion for good — at least in my mind ... dealing with a credit crisis, so there will be little joy in stocks until the credit markets improve. For most of us, it’s tough to track the credit markets. Sure, you can look at three and six month [more...]

Date: 2008-10-13 17:09:12

Emergency Cash Payday Loan with Jiffy Cash

Emergency Cash Payday Loan What is an Emergency Cash Payday Loan? An emergency cash payday loan is a small personal payroll advance loans completed online. It is by far the best and quickest way to obtain the fast cash loan you need. Is it hard to get Emergency Cash Payday Loan? Absolutely not! Getting a Payday Loan Emergency Cash from JiffyCash. com is one of the easiest things that you ever make. We are really doing every effort to get short term personal payday loan as easy and stress free as possible. [more...]

Date: 2009-09-29 01:53:04

The Bailout Busts - What’s Next for Americans

Lord, have mercy. I look at the news in the morning and am shocked & appalled only to receive some fresh, ... in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market’s angst, froze up further amid the growing belief that the country is headed into a spreading credit [more...]

Date: 2008-09-29 23:41:12

Builders Bury Promises Made to Banks

The banking system’s plan to bail out cash-strapped housebuilders by restructuring loans to help them survive a market slump is under strain, ... rules, which permit banks not to classify loans to real estate firms as bad loans the moment ... , blame banks for causing the market slump and lower sales volumes by charging high rates on home loans [more...]

Date: 2009-01-16 12:26:15

Holiday Windfalls: 7 Tips on Using Them

The holidays often come with a windfall or two: a monetary gift from a relative or a bonus from an employer ... an important bill. If so, that kind of practical application may make your decision for you. If you don’ ... cringe right now, but that doesn’t actually mean that investment is a bad choice. There are still [more...]

Date: 2008-12-25 13:30:00

1-17-2009 (Sat Afternoon) Fin. & Econ. Activity

At least 21,000 jobs were targeted for elimination yesterday as employers from Hertz Global Holdings Inc. to Advanced Micro Devices Inc ... -parts division. Hertz, the second-largest U.S. rental-car company, said it will cut more than 4,000 jobs ... by trading losses on mortgage bonds, the bank faces credit-card losses that surged to a record [more...]

Date: 2009-01-17 18:27:49

Financial Clarity: The First Step to Eliminating Debt

We hear about it all the time on the news, the economy is in a downturn, a slump, a recession, a depression. Job lost is at an all time high ... credit card debt, student loans, car loans, and the money you borrowed from Uncle Charlie last year ... . People are losing their homes. People are scared. Just writing about it makes me feel scared. Oh [more...]

Date: 2009-01-08 02:07:51

Highlights and Lowlights of BofA’s Earnings Call

Bank of America moved its earnings announcement up to this morning to soothe investors after The Wall Street Journal’s report that BofA would need ... and $27 billion in credit costs. Many of the problems originated at Merrill Lynch, which had a loss ... Goldman Sachs research analysts noted wryly in a research report this morning. BofA CEO Ken Lewis [more...]

Date: 2009-01-16 16:01:30

Bailout Passes Senate

Senate votes 74-25 to approve the measure in a dramatic desk roll call vote. The infamous twenty-five are listed here ... highway caused by bad mortgage loans,” Alexander said. “This should get economic traffic moving again and restore confidence so that Americans can get auto, student, mortgage, business, and farm credit [more...]

Date: 2008-10-02 02:31:10

Fed and BOE Shell Games to Bailout Insolvent Banks

The US banking system is insolvent. I gave 25 reasons on Wednesday, July 23, 2008 in You Know The Banking System Is Unsound When.... 1 ... , imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds ... loans cannot be paid back.Many things have transpired since then. I could easily list another 25 [more...]

Date: 2009-01-18 01:51:43

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

Dow jumps 600 as US government pledges bank aid

NEW YORK - The Dow Jones industrial average rebounded as much as 600 points today as Wall Street snapped back from last week's devastating losses ... work through their concerns about the banking sector, the stagnant credit markets and the overall ... the market has started to carve out a bottom and that the credit markets where many companies turn [more...]

Date: 2008-10-13 17:47:29

Mortgage Rates, Scary Jobs Details, Investing in 2009, Russian Gas Dispute, and More!

by Addison Wiggin & Ian Mathias Mortgage rates plunge to record lows… but are they at the bottom? ... of the credit crisis. “That’s bad,” Byron King somberly explains. “We already have an aging work force ... to 2009… how to invest amid rife market manipulation If you’ve got money, credit and patience [more...]

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

Stop the World, I Want to Get Off

Assume the crash position. U.S. stock-index futures are pointing to another dark day on Wall Street ... , as Germany and Ireland have done, backing loans among banks, and pumping cash into banks by buying ... , fear continues to grip the credit markets. The three-month dollar Libor, or the London interbank [more...]

Date: 2008-10-10 14:02:57

What You Need to Know About Refinancing

by Mary Bush Refinance loans allow you to take an old loan or several old loans, and redo your deal ... . It is the easiest way out of a foreclosure, but with bad credit, interest rates will be high. The current ... . In today’s economy, some banks are refinancing mortgages so that distressed homeowners can better [more...]

Date: 2009-01-06 17:05:01

Avoid These Three “Short-Term” Loans

Payday Loan Storefront In an ideal world, when you needed to borrow some money, you could just walk into your bank and just ask ... earned from folks who didn’t know they were getting a loan in the first place? Probably more than you’d think. Payday Loans Need a few extra bucks to make it through to your next paycheck? How [more...]

Date: 2008-11-03 10:50:51

Markets won't Bottom until Banks Stabilize

It should be obvious to most investors that until the financial sector stabilizes and starts to post a meaningful rally, ... in other segments of credit, including revolving credit card and auto loans and now deteriorating ... . As I stated a few days ago, the market will probably not bottom until we see a combination of bad assets [more...]

Date: 2009-01-16 14:12:44

Easy No Credit Check Loans

by Justin Finn No credit check loans are easier than one may think to obtain. For those of you with bad credit this may be the only type of loan that you will be able to get. You can get no credit check loans and rebuild your credit at the same time by paying it one time, every time. With these types of loans, bad credit does not affect your chances of getting the loan, nor does it hurt your credit rating as most of the time they are not reported to the credit agencies. [more...]

Date: 2009-09-29 17:16:25

Unprecedented Fearmongering

Unprecedented Fearmongering Anytime President Bush warned us about being vigilant as we fought the terrorists, Democrats would chastize him for playing on people’s fears. It’s to be expected, though, that these same Democrats aren’t critical after President-Elect Obama delivered a speech that’s mostly fearmongering with a tiny hint of optimism [more...]

Date: 2009-01-09 16:00:01

Tremblay: Anatomy of the American Financial Crisis

Old Doom friend, Montreal-based economist Rodrigue Tremblay, is allowing us to re-post this thoughtful article that explores the origins of the present crisis and suggests what must be done in the immediate future. Both Twist and I suspect that his prescriptions are closer to a practical plan than the ad-hoc improvisations we’ve seen coming out [more...]

Date: 2008-10-13 07:01:36

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

The Trend Of Unsupportable Housing Prices

The Boston Globe reports from Massachusetts. “The median price statewide for single-family homes last month tumbled 9 percent to $323,000 from $355, ... would be further damaged. ‘At this point, the housing market is in such bad shape I don’t think even ... , that’s got to be bad for the real estate market.’” The Seacoast Online. “George Reagan of New [more...]

Date: 2008-09-24 12:54:08

Chinese banks facing risks from bad loans

China’s lenders may have evaded the worst of the global credit crisis so far, but they are facing plenty of risks of their own, economists with credit agency Fitch Ratings said Friday. A larger-than-expected downturn ... , which have boosted lending at the government’s behest, will see an increase in problem loans, said [more...]

Date: 2009-01-16 09:39:30

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... the housing boom. But when these markets began to weaken, bad loans depressed the value of neighboring [more...]

Date: 2009-01-06 13:19:54

The Coming Great Depression

Martin Armstrong: The Coming Great Depression It is frustrating to read so many comparisons of our current situation with 1929 while watching ... may signal a recession, but the collapse in debt signals a Depression. This Depression was set ... and shifted spending that created jobs into the banks as interest on things like credit cards [more...]

Date: 2009-01-08 03:55:35

Breaking Down the Detroit 3 Bailout Plans

Yesterday, GM, Ford and Chrysler released official plans to Congress in hopes of securing federally backed loans to survive ... car sales. 22 of 24 new models between 2009 and 2012 will be cars or crossovers. Meaning ... all corporate jet operations. Reduces total dealers by 1,750 by 2012. Reduces engine sizes: “Eight [more...]

Date: 2008-12-03 17:36:09

Outsource This!

The contract jobs I work on have been outsourced in part, mostly to India ... rupees in cash and bank loans the company listed in assets for its second quarter, which ended ... companies will rise in investors’ eyes, said Nilesh Jasani, India strategist at Credit Suisse. R.K. [more...]

Date: 2009-01-07 18:00:44

David Sirota: Top 5 Reasons to Vote Against Paulson's $700 Billion Bailout

There's news this Sunday afternoon of a congressional deal to bailout Wall Street fat cats with $700 billion of taxpayer cash ( ... INHERENT FISCAL INSANITY COULD MAKE PROBLEM WORSE When an individual consumer uses a new credit card to pay off astounding debt from an old credit card, it's called kiting, and in many cases [more...]

Date: 2008-09-28 23:35:52

Bank Bail Out Number 2?

BANKS are to be given extra billions of pounds by the Treasury, but will be forced to hand it over to borrowers ... will be earmarked for business loans - keeping small and medium businesses from going to the wall as their loans add overdrafts have disappeared. As Mr Darling completes the rescue package, Gordon [more...]

Date: 2009-01-03 20:25:11

Why This Is A Great Time To Be A Real Estate Investor!

Take a look at some industry blogs and you would think that when the bubble burst it spelled doom and gloom for everyone. Not true at all. Not by a long shot. There are a bunch of people making an absolute killing in the biz. While some agents may be making money, the majority are not. Why? Does it really matter? [more...]

Date: 2008-11-26 17:24:50

Concise Explanation with Blame Assigned

Look, it’s perfectly possible to explain the sittutation clearly and concisely: * starting in 1977, ... credit default swaps found themselves with demands that they pay cash for this suddenly illiquid security ... stopped issuing loans in the commercial credit and interbank market. * which, if it continues, could [more...]

Date: 2008-09-30 14:57:36

Now is Not The Time to Panic

“I know people are scared watching the markets unravel. Don’t panic. That is the worst thing that you could do in a market like this. Think about it ... and remember this too shall pass. We will not fix decades of overspending, a housing bubble and credit ... was one approach to fixing the financial institutions that we need to remain healthy [more...]

Date: 2008-10-07 16:39:05

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

GLOBALISATION AND ITS IMPACT ON WALES

Polish road signs are now a common sight all over Our CountryRight I am going to do something a little different with what may be the penultimate post of the year.But before I start it, I would like to give a public thank you to Ancient Brit who provided me with the information I will be publishing [more...]

Date: 2008-12-31 08:52:00

No Credit Check Loans

by Justin Finn No credit check loans are easier than one may think to obtain. For those of you with bad credit this may be the only type of loan that you will be able to get. You can get no credit check loans and rebuild your credit at the same time by paying it one time, every time. With these types of loans, bad credit does not affect your chances of getting the loan, nor does it hurt your credit rating as most of the time they are not reported to the credit agencies. [more...]

Date: 2009-09-28 19:06:42

Why Bail? The Banks Have a Gun Pointed at Their Head and Are Threatening to Pull the Trigger

From Talking Points Memo: If you have a real story, you don’t have to make up phony stories. That’s pretty straightforward ... with so much bad debt that the banks can’t trust each other to repay loans. This creates a situation in which the system of payments breaks down. That would mean that we cannot use our ATMs or credit cards [more...]

Date: 2008-09-29 23:25:39

Online Loans

by Dave Davis Most of us need extra cash from time to time and sometimes it’s hard to get our hands on it ... is generally direct deposited into your checking or savings account. You will usually get the money ... information that if retrieved by the wrong hands could really damage your credit score and identity [more...]

Date: 2009-01-05 00:42:52

Why I'm still concerned about yesterday's vote and its impact on the economy

I find fascinating this entire discussion of whether or not voting down the bailout bill yesterday poses an economic danger to the US ... that all is not lost. But credit markets are still frozen. Practically no one in America can get a loan right now. No one. So I decided to use the Google and find out more about what this credit crunch really [more...]

Date: 2008-09-30 16:57:50

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