It Is The Bank of AMERICA After All

Just nationalize the lot of them and end this. Bank of America, the largest U.S. bank, is seeking billions of dollars of government aid after it realized that credit losses ... to report its quarterly results on January 20. "Bank of America appears to be in meltdown," said Anton [more...]

Date: 2009-01-15 16:38:00

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Banks? Credit Quality Expected to Worsen

Kerry E. Grace reports: Although government support has buoyed U.S. banks, the industry will likely experience overall credit quality deterioration at least through ... credit analyst Barbara Duberstein said the number of bank failures will likely rise in 2009 “ [more...]

Date: 2009-01-06 09:09:00

N.J. man learns modifying mortgage to cut payments may impair credit rating

by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]

Date: 2009-09-29 13:48:05

Few following DIAC in Gershon hiring drive

Most large federal government agencies this week said they had no plans to follow the Department of Immigration and Citizenship's lead in hiring a ... recommendations. Razor: Gershon and Tanner Sir Peter Gershon and Lindsay Tanner (Credit: Brian Hartigan) The Gershon report, which has been endorsed as an action plan by Federal Cabinet, found [more...]

Date: 2009-01-15 05:57:02

Spain sees risk of debt downgrade, Fitch holds AAA

MADRID, Jan 13 (Reuters) - Spain's Economy Minister acknowledged a risk on Tuesday that major rating agencies might downgrade the country from its "AAA" credit status, although Fitch said it was holding its top-notch rating on the debt. Spain ... departed from a bullish government line to tell reporters: "It's a risk. Obviously in the case [more...]

Date: 2009-01-14 08:27:28

Economy worse than expected

The economy that National has inherited is even worse than thought at the end of last year. NZPA reports that Treasury has told the Government it now expects unemployment to hit 7.5%. PM ... the recession may not turn into a depression. Tags: Credit Crisis, Economy [more...]

Date: 2009-01-15 03:57:03

It's Getting Hard for the Porn Industry

TMZ reports that porn moguls Joe Francis and Larry Flynt are asking the government for a $5 billion bailout, citing a 22 percent drop in DVD sales last year. I'd guess that has more to do with the abundance of free porn on the Internet than the credit crunch. In any case, I will now take this opportunity [more...]

Date: 2009-01-07 16:32:00

Deal of the Day: Bonus Time at Credit Suisse?Woohoo?

Deals of the Day, compiled by Stephen Grocer and Heidi N ... Freres to help sell its trading operations. WSJ Related: NPR reports that Eliot Spitzer’s name ... The biggest Ponzi scheme: Madoff or the British government? The U.K. government continues to issue [more...]

Date: 2008-12-19 14:56:14

Economic Potpourri December 30, 2008

The barrage of noteworthy economic news continues as we head into the new year. Here are a few headline news reports of interest from the past couple days.Japan mulls scheme 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 [more...]

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

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