credit banking: : Wall Street, big bonuses, and the taxpayer (blog)

Wall Street, big bonuses, and the taxpayer

There's an interesting article in Bloomberg this morning about Wall Street bonuses and how they are viewed by the public ... Americans with the consensus view being that a good deal of that pain has its origins in New York City ... ., the investment bank acquired by Credit Suisse Group AG in 2000. ``Your very best people are people you want [more...]

Date: 2008-11-11 16:45:46

Blog posts (548) | Videos (150)

Robert Samuelson Thinks the Economy is Doing Just Great

The reason some of us note that Robert Samuelson is not a relative of Paul Samuelson has to do with his tendency to write this kind of nonsense: ... slump. The back-to-back recessions of 1980 and 1981-82 (as dated by the National Bureau of Economic ... , airlines, construction, mortgage banking. The "credit squeeze" triggered by losses on "subprime [more...]

Date: 2008-07-23 16:03:48

Employment traffic reaches new heights

It’s been a wild and uncomfortable ride on Wall Street for the past few days, ... as the Merrill Lynch acquisition by Bank of America. While the credit crunch continues to impact the global ... 5, the U.S. Bureau of Labor Statistics released the August Employment Situation Summary, which showed [more...]

Date: 2008-09-18 20:05:59

Well! Now we know why Emperor Paulson wanted retroactive immunity in his trillion dollar bailout plan!

How did Paulson try to get retroactive immunity? Why, via the infamous Clause 8, of course: the clause Krugman caught Paulson lying about ... , Lehman Brothers and American International Group, bringing to 26 the number of bureau investigations ... into disclosure and valuation of housing-related investments at banks, insurers and credit rating [more...]

Date: 2008-09-24 02:53:58

Fiscal Insanity Virus Strikes Canada, Sweden, Italy, IMF

The world health organization has confirmed new cases of the extremely contagious Fiscal Insanity Virus (FIV) that is rapidly spreading the globe. Canadian Finance Minister Jim Flaherty is one of the latest victims as evidenced by the headline ... the banks to provide adequate credit in Canada,” Mr. Flaherty said at a news conference in Saskatoon [more...]

Date: 2008-12-24 22:38:00

Home loans

by Tom Martens For the vast majority of us, homeownership means a monthly mortgage installment ... this rate, your credit history and credit score are major factors in whether your bank considers ... the best option for you. Administration fees payable every month differs with each loan, so check [more...]

Date: 2009-01-16 14:53:39

Turning Japanese I really think so

As most of you probably already know, with the "effective" Fed funds rate much closer to zero percent than to the one percent prescribed by the " ... bets that are bound to inflate another asset class eventually. As discussed in this report ... to banks and others to loosen up the credit markets, creating more reserves than it can drain. So to keep [more...]

Date: 2008-11-16 21:20:31

EconomPics of the Week (1-16-09)

Going GlobalHelp Jake Understand: Is it Possible that a Country Will Leave the Eurozone?The Irish Dr. Doom... or Just an Exaggerating Economist? ... , Commodity MarketsOil Tankers are a Banks Best FriendCreditLoose Credit and AutosAuto Bubble BreakdownReceipts Down, Outlays Up = Soaring DeficitFixed Mortgage Rates at Less than 4.5% [more...]

Date: 2009-01-16 22:44:00

Candidates Singing Own Praises Fall Flat

By SARAH E. NEEDLEMAN Last summer, Lisa Harrell interviewed a candidate for a director job who offered a list of impressive accomplishments ... executives recently refused to consider job opportunities at small community banks and credit unions. “ [more...]

Date: 2009-01-14 16:06:57

200+ Tools for Surviving the Economic Crisis

With Wall Street’s recent decline and the economy in such an uncertain place, many people are fearful of losing their jobs and lifelong investments ... in that it aggregates your different accounts from banks and credit cards, lets you budget and also [more...]

Date: 2008-10-16 22:24:58

Credit Karma Uses Ad Model to Provide Free Credit Information

According to the 2007 Online Banking Report, approximately one in three US adult consumers monitors or checks their credit score in some form or ... the score is usually only free if you enroll in a credit monitoring service. In this margin-rich industry ... . FreeCreditReport.com and TrueCredit.com, the consumer direct sites of Experian and TransUnion [more...]

Date: 2008-11-25 19:39:56

No Fee Mortgages Coming Soon

Buying a home, especially for the first time, can be a daunting experience. There are endless credit checks, bank checks, employment checks, appraisals and more paperwork ... . It just isn’t possible to obtain a mortgage without a credit check or an appraisal of the property [more...]

Date: 2009-01-15 11:26:00

more hazard

After all the drama of the last few months, from pre-bailout fear mongering to post-bailout recriminations, ... repaid — to continue through 2009 and into 2010 at all the banks. Commercial real estate, credit ... by rising write-downs, Juneja said as the value of some investments such as mortgage-backed [more...]

Date: 2009-01-11 14:14:46

DrumBeat: June 22, 2008

You. Will. Not. Be. Able. To. Get. Food. - report on trends You. Will. Not. Be. Able. To. Get. Food. Need this be spelled out any more plainly? ... period is soon to be upon us -- be prepared," Bob Janjuah, a credit strategist for the Royal Bank of Scotland, wrote in a report that sent shockwaves through the global financial community. Janjuah [more...]

Date: 2008-06-22 13:52:27

10 Ways Your Identity Can Be Stolen

Who’s in your wallet? It might be more than a some dead presidents and a few bank logos ... and how. Check your card statements and immediately report any fraud. Going Phishing - Nearly everyone has gotten an email from X bank or Y credit card claiming there’s a problem, and if you could [more...]

Date: 2009-01-14 16:04:47

Computer security

By Carol Gee Cyber security is a field unto itself, mysterious until you get into it a little bit. I am a novice at it ... in which hyperlinks take users to phony sites posing as legitimate banks and credit card companies [more...]

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

Credit Scores for the Ages

It’s funny how sometimes a post will take on a life of it’s own within the comments…such is the case with my recent interview of Jillayne Schlicke ... with the new year approaching…the comments have turned into a discussion of credit scores. Most likely ... to go up as banks and conforming paper sold to Fannie and Freddie will raise minimum credit score [more...]

Date: 2008-11-08 18:15:24

Opting For Bad Credit Refinance Is Like Walking On Thin Ice

by Angus Guy Ignorance and indiscipline are the two main detractors who are responsible for destroying our once green credit rating and bringing us to despair to suffer the ignominy of ending up with a Bad Credit rating. Along with this come a host of other problems related to a bad credit history. In the earlier days no bank or lending institution would consider it safe to lend to someone such a history. [more...]

Date: 2009-10-01 10:28:09

"60 Minutes" Report: So Many More Foreclosures Coming

Back in August, the New York Times ran a story about a second wave of foreclosures that is going to hit, ... and then reset years later). The above chart, put together by the investment bank of Credit Suisse and featured on last night's "60 Minutes'" report, shows when the resets on these exotic mortgages [more...]

Date: 2008-12-15 19:12:36

The Wall Street Journal on ACORN and Obama

So, this campaign has been going on for almost two years now, and news of the connection between ACORN and Illinois Sen ... lenders to make home loans on easy terms, conducting "strikes" against banks so they'd lower credit ... . According to a 2006 report from the Employment Policies Institute (EPI), Acorn has been on the federal [more...]

Date: 2008-10-14 18:07:20

Young people should act on debt early

Following a study suggesting that the 18-34 age group are most at risk from the credit crunch, with many carrying significant debts, ... sense of security”. As a result, they have “run up huge credit card bills, smashed their piggy banks and are now staring at a broken housing ladder”, the report claims. The report dubs the age group [more...]

Date: 2009-01-08 19:11:08

Bank of America slides to 4Q loss; gets more aid

Escalating credit costs forced Bank of America Corp. to report a $2.39 billion fourth-quarter loss, hours after it convinced the federal government it needed a multibillion-dollar lifeline to survive the absorption of Merrill Lynch's hefty losses. Bank [more...]

Date: 2009-01-16 18:51:25

China Yeepay (Ease Pay) suffers large-scale hacker attack

Yeepay (Easy Pay), the leading e-payment service in China, confirmed that starting at 4:20 pm on January 14th, ... the site. The attack was reported to the Beijing Public Security Bureau and a suspect is currently ... . The challenge is that many of them don’t have traditional bank accounts or credit cards, so monetizing [more...]

Date: 2009-01-16 02:46:25

P2P Lending Double Whammy – SEC and Credit Crunch

Peer-to-peer lending sites like British-based Zopa are starting to reflect the weakness cutting through the global economy. Their U.S ... with the Big Banks’ experiences was that the average credit score of the delinquent pool is getting ... . operations will now be handed over directly to their Credit Union partners, rather than remain [more...]

Date: 2008-10-16 19:43:02

Bank of America reports $2.39 billion loss

Escalating credit costs forced Bank of America Corp. to report a $2.39 billion fourth-quarter loss Friday, hours after it convinced the government it needed a multibillion-dollar lifeline. [more...]

Date: 2009-01-16 22:44:48

Jamie Dimon Shows How It Is Done (JPM)

JPMorgan Chase (NYSE: JPM) has just released earnings and Jamie Dimon is showing he is a better manager even than the most positive ... billion due to mortgage-related positions and leveraged lending exposures in the Investment Bank ... increased credit reserves by $1.3 billion to $15.3 billion, resulting in loan loss allowance [more...]

Date: 2008-10-15 11:11:59

Bank of America reports $2.39 billion loss

Escalating credit costs forced Bank of America Corp. to report a $2.39 billion fourth-quarter loss Friday, hours after it convinced the government it needed a multibillion-dollar lifeline. [more...]

Date: 2009-01-16 15:16:20

Another Bad Day Dawns in Asia

As of this writing, the Nikkei is down nearly 500 points. Singapore is least trashed, down 3%, the Hang Seng is down over 6% ... no confidence in Paulson's latest folly, the "let's bailout credit card debt so the banks can let consumers ... earlier, the statistics bureau said today, after gaining 11.4 percent in September. None of 18 economists [more...]

Date: 2008-11-13 04:32:03

The Schwab Bank Invest First™ Visa Signature® Credit Card

The name of the card has clearly too many symbols and arguably too many syllables, but when the daily financial news is consistently dire, ... to literally take advantage of a credit card’s bonus features, check this out: Unlimited 2% “cash” back ... I should just be happy to see something that is this innovative and attractive. It’s a credit [more...]

Date: 2008-12-09 12:56:30

Legal News - LexBlogosphere: 6/5/08

Below you'll find the best of the best articles published today in our corner of the blogosphere, ... attorney Daniel Clement at his blog, the New York Divorce Report UK government vets gagged on badger cull ... High conflict custody cases - "get some credit in the bank" - Philadelphia lawyer Charles Meyer [more...]

Date: 2008-06-05 22:08:40

Daily Report for Friday, Jan 16, 2009

8:26am ET Maybe there is hope after all the pressures of the great unwinding of credit default swaps that the Bank of America, Citigroup and JP Morgan might survive. Actually, there is no question the Big Three money center banks will survive – the US government has said as much – the issue comes down to who will own [more...]

Date: 2009-01-16 13:24:26

Death of the American Empire

America is self-destructing & bringing the rest of the world down with it by Tanya Cariina Hsu I believe that banking institutions are more ... . The banking industry renamed insurance betting guarantees as ‘credit default swaps’ and risky gambling [more...]

Date: 2008-10-24 13:01:18

JPMorgan profit drops 76 percent

JPMorgan Chase &amp; Co. said that its profit fell 76 percent as rising defaults. The company said in a statement that the year-old U.S ... More consumers are paying late on their credit cards and mortgages, forcing banks to increase reserves ... , a year earlier, the New York-based bank said. JPMorgan’s investment-banking division lost $2.36 [more...]

Date: 2009-01-15 14:23:57

“A frightening deterioration in the UK economy”

The British Chambers of Commerce report today that orders, investment and demand for labour all fell heavily in the last quarter of 2008 ... you are not encouraging an old firing at the same time. If you are offering a guarantee to banks for offering credit [more...]

Date: 2009-01-08 15:48:33

Who Wants To Win A Macbook Air?

My friend Shoemoney is holding a viral Twitter contest to give away two Flip Mino HD digital camcorders and maybe a Macbook Air ... Was Brought To You By Best Credit Card Offers Get up to $250 or even FREE round-trip plane tickets by signing up for hot credit card offers and bank deals! [more...]

Date: 2009-01-16 21:38:46

Get Good Credit if You Want to Buy a Car

In this time of economic uncertainty many are putting off a major purchase such as buying a car. Why incur even more debt? ... a service such as FreeCreditReport ($12.95/month for credit score and monitoring) or myFico ... , but their threshold for extending credit has typically been lower than actual banks. What many don’ [more...]

Date: 2008-10-30 00:43:30

All the time, I get requests from readers asking me for recommendations of financial products ... account? What credit card should I get? Where should I get my insurance from? What kind of software ... in the world. I’ve never held a credit card with a lot of banks. I’ve only had accounts with a few [more...]

Date: 2008-09-09 20:00:17

Another Bad Start to the Day in Asia (Update: Carnage!)

Mr. Market is in a very bad mood. From Bloomberg: Asian stocks fell, sending Hong Kong's Hang Seng Index below 16,000 for the first time in two years, on concern the credit crisis will topple more banks and slowing growth will cut demand ... , leading declines in Asia, as Hong Kong's monetary authority cut interest rates to keep a credit crisis [more...]

Date: 2008-10-08 04:28:59

Avoiding BHO.amo Spyware

If you’ve been using the Internet for any length of time now, ... you know that spyware can lock your computer and steal valuable information from it? Credit card numbers and banking information are commonly stolen this way. Although you may use secure servers [more...]

Date: 2009-01-17 00:00:53

PhoneBAK Contest - S$1600 worth of prizes!!

Contest open to International readers! New!! PhoneBAK (For BlackBerry) ... . Loads of sensitive information in it that gives free access to bank account numbers, credit cards ... out all information and reports back the identity and location of the thief! PhoneBAK BB (WipeOut) helps [more...]

Date: 2008-09-25 15:48:00

Buck Slightly Higher

In the currency market, the dollar inched higher against the euro. Late Wednesday, the euro was trading at $1.3176 vs. $1.3187 on Tuesday ... margins.” The Fed’s Beige Book report covering early December to early January painted a sober picture ... credit standards and a drop in lending activity. Banks’ woes continued, as Deutsche Bank warned [more...]

Date: 2009-01-15 19:10:52

Joe Sixpack and the Subprime Crisis

The Subprime Crisis is a broken promise to Joe “Sixpack”. One Day in early 2006, Joe was feeling pretty darned good about himself. He was making $65,000 a year at a job he held for over 6 years. He had $30,000 saved up in the bank. He had no credit card debt. He owned his car free and clear. He looked at his pregnant wife [more...]

Date: 2008-10-11 20:31:04

Quicken Beam: Your finances made cute

Beam's SMS report can be useful to keep on top of your accounts and to spot fraud ... , which is unusual for an Intuit app; even Quicken Online (which competes with the free Mint), costs ... phone: Quicken Beam. You tell it about your financial accounts, like your bank and your credit card [more...]

Date: 2008-08-20 07:52:29

Bank of America loses $2.39 billion; gets more aid (AP)

Date: 2009-01-16 13:58:55

Securely Synchronize All Your Browser Passwords With LastPass

It’s hard not to find a website these days that doesn’t require some type of registration or login ... with whatever requirements the website has to improve security. So after you’ve registered at your bank, your three credit cards, your Facebook, your Digg and your blog, you’re so exhausted with usernames [more...]

Date: 2009-01-14 19:01:01

Economic Potpourri December 30, 2008

The barrage of noteworthy economic news continues as we head into the new year ... loans and other financial assets from banks to ease a credit crunch gripping the country's businesses ... the world's second-largest economy from sliding deeper into recession as the global credit crisis hurts [more...]

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

CDT Highlights Privacy and Security Impact of Tax Reporting Plan

In testimony before the House Small Business Committee today, ... require banks to track credit card payments and report the data to the Internal Revenue Service for tax ... from small businesspeople and others, and would set a dangerous precedent. [more...]

Date: 2008-07-23 20:17:17

Reading the Redemptions Rebound

Geoffrey Rogow and Kejal Vyas report: The redemptions rebound may not create a new market rally, ... of redemptions. With the stock market in free fall thanks to a global economic and credit crisis, and banks ... stable corporate holdings and the lowest fee structures. “We’ve seen some meaningful flows [more...]

Date: 2008-12-11 09:08:00

Morgage Bond Purchases Start Strong

By PRABHA NATARAJAN and BRIAN BLACKSTONEThe Federal Reserve bought $10 ... report. Borrowing through the Fed's discount window by commercial banks, known as primary credit ... .213 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae in the first [more...]

Date: 2009-01-11 17:07:00

Saturday

419 scamsAnti-Terrorist and Monitory Crimes Division. Federal Bureau Of Investigation. J. Edgar. Hoover Building Washington D ... : quartey00@representative.com.My Name is Michael Declan (Deputy Accountant General, Credit and Foreign Bills (Rennies Bank [more...]

Date: 2009-01-10 05:00:00

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