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

Blog posts (166) | Videos (465)
 

Bad Credit Loan Mortgage Foreclosure Information

Many people are delaying their obligation to get auto insurance ... 15, 2009 — Health Insurance Plans qualify Coverage (0) November 3, 2008 — Payday Loans Solution [more...]

Date: 2009-01-15 08:23:07

Goldman Sachs Predicts Loan Losses Will Top $2 Trillion

Despite all the hoopla about stimulus plans and bailouts rescuing Americans’ home equity and retirement accounts, ... — the losses that investors and financial institutions are potentially sitting on from bad loans… ... of $780 billion. Add in losses from commercial real estate, credit cards, auto debt and business [more...]

Date: 2009-01-15 23:05:05

5 Ways to Save Money on Your Next Vehicle Loan

by Ada Denis Don’t get stuck with a bad car deal. Here are five ways to walk away from an auto dealership and save money on the vehicle loan. 1 ... an application with your personal bank, credit union, finance company, or online auto loan broker [more...]

Date: 2008-12-09 09:27:49

Got Car Loan?

In a perfect world, people have no money problems; jobs never get pink-slipped; great credit is possessed by all; ... have thought about it, but people with bad credit need to buy cars too - just like people with good credit. Cars get wrecked. Sometimes they cost more to repair than their worth. Sometimes, they just die [more...]

Date: 2009-01-15 18:18:18

Thank you Taxpayer. Sincerely, Merrill Shareholders

From the Wall Street Journal In the end, investors and financial institutions could face as much as $2 trillion of losses from bad U.S ... from commercial real estate, credit cards, auto debt and business debt, and Goldman’s loan-loss estimate ... rescued both Merrill and Countrywide without government assistance. Mr. Lewis had also argued [more...]

Date: 2009-01-15 09:02:01

Bank Loan Stats: The Good, The Bad & ........

The Federal Reserve's survey of loan quality for U.S. commercial banks is in. Bottom line, it's still all about residential housing delinquencies and charge-offs, which remain ugly and are killing the banks. Surprisingly to some, credit card delinquencies and losses are holding up reasonably well, [more...]

Date: 2008-11-19 02:12:16

Emergency Cash Loans For Unemployed - No Fear of Emergency

Everybody has to pass through hard days. No one is secure against emergencies ... accident, current shock, sudden broke down the car, home decoration and repair at the time ... the reason of loan taking in your online application form. No matter, if you have bad credit in your past [more...]

Date: 2009-01-15 05:53:55

Bank of America nears govt aid, Citigroup shares drop (Reuters)

WASHINGTON/NEW YORK (Reuters) – Bank of America Corp may receive a $15 billion government infusion to help absorb Merrill Lynch, ... to handle soaring credit losses. Both lenders face mounting pressure from investors that they can manage a surge in bad loans caused by a deep economic recession. The two companies will offer more details [more...]

Date: 2009-01-15 23:32:10

LendingClub.com Could Not Help Me Refinance My Car Loan. – Erik

Rollover USA-401K Rollover to IRA is a post from: Rollover USA-401K Rollover to IRA “Dear Steve, My situation revolves around my car loan. I got my loan back in July 2006, and the interest rate was high, understandably because I had bad credit. Now two and a half years later, it seems that it still is horrible, because NO ONE will refinance me. I tried LendingClub.com (I googled my problem, [more...]

Date: 2009-09-29 19:01:13

Personal Loans for Scary Times

The Excorist and The Texas Chainsaw Massacre combined aren't as scary as the current economy ... consolidation, credit card and personal. Better yet, they offer customers quick, no hassle loan ... , there are no application fees, and they offer nationwide services. If you find yourself in a bad credit [more...]

Date: 2008-10-06 13:40:25

Bank of America nears government aid, Citigroup shares drop (Reuters)

WASHINGTON/NEW YORK (Reuters) – Bank of America Corp is on the cusp of receiving a government infusion to help it absorb Merrill Lynch & Co, ... to handle soaring credit losses. Both banks face mounting pressure from investors who question how well they can absorb an expected tidal wave of loans gone bad in a deep recession. More details [more...]

Date: 2009-01-16 02:26:43

Repossessed Car Owners Shocked After Being Sued By Car Lenders

The latest in reality shows is Operation Repo, a team of “highly paid professionals” in the San Fernando Valley of California who repossess ... $2000. According to the Fair Credit Reporting Act, an auto loan deficiency debt can remain ... a creditor has to take someone to court to enforce a bad debt. Creditors in Rhode Island have ten years [more...]

Date: 2008-12-29 15:51:27

OBAMA’S ‘ORGANIZER’ BUDS PUSHED FOR BAD MORTGAGES

O’S DANGEROUS PALS By STANLEY KURTZ, NY POST Chutzpah: ACORN’s drive to lower mortgage standards paved the way for the meltdown - yet last week, ... banks into making high-risk loans to customers with poor credit. In the name of fairness ... in mortgages to low-credit customers. In other words, community organizers help to undermine [more...]

Date: 2008-10-13 03:22:59

Fast Way to be Free from Debts

.fullpost{display:inline;}Debts are the consequences for people who often take loans as the solution to completing the needs such as cash flows, ... game. No matter if you have good or bad credit record, the debt counseling from this website ... service from companies that offering debt free service such as debt consolidation, you should ask [more...]

Date: 2008-12-24 17:25:00

WaMu Has $3.3 Billion Quarterly Loss

Washington Mutual Inc., the largest in the United States savings and credit, has a $ 3.3 billion in the second quarter, a loss on bad loans as a record number of borrowers unable to make [more...]

Date: 2008-07-22 11:52:44

Lala Land

Blink and you may miss another government bail-out, loan guarantee, federal plan to alleviate a bad or unwise mortgage, a suggestion for more government funds for a more aggrieved constituency, or credit-card relief proposal, etc. All this is said to be smart and necessary, given that we are told that the problem [more...]

Date: 2008-12-16 00:47:41

Secure yourself From Bad Credit

Posted on 11.18.2008 11:18 by Sammys Filed under: Approved payday advance in seconds are absolutely unsecured short-term loans that are granted ... explained to grant the loan and that's it. At the time of your financial emergency it is not a big [more...]

Date: 2008-11-18 11:18:00

The Lending Lunacy Continues as GMAC Gives Out More Bad Loans

This past week the Treasury used $5 billion of funds from the Troubled Asset Relief Program ((TARP)) to purchase senior preferred equity in GMAC, the financing arm of General Motors (GM). GMAC reacted immediately to deploy the funds by lending to new car buyers with credit scores as low as 621 [more...]

Date: 2009-01-01 11:02:24

BABY STEPS TO ‘PEACE-OF-MIND’ FINANCIAL MENTAL HEALTH

BABY STEPS TO ‘PEACE-OF-MIND’ FINANCIAL MENTAL HEALTH January 15th, 2009 No Comments 1) Begin to pay off all revolving credit cards. House mortgage and car loans can be factored into monthly financial obligations. 2) Put your “ ... for what you have. Gratitude can cure cancer and bad attitudes. 5) Ask someone every day, “What can I do for you?” 6) [more...]

Date: 2009-01-15 17:55:16

More Retail Bankruptcies Likely

So just how bad are things? U.S. retail (and food services) sales in December were down by nearly 10% from the previous year. ( ... spending, pressure from suppliers who are tightening credit terms, and loan terms that are proving [more...]

Date: 2009-01-14 10:53:00

Why stop with capping payday loans? Banks are just as bad.

Obviously, banks have better lobbyists than payday lenders, why else can someone who has no problem charging $37 ... than $300, yet, credit card balances can be several thousand dollars. Which is worse, missing a payment on a credit card and having your interest rate go from that low intro rate of 15.9% to 29 [more...]

Date: 2008-06-07 13:02:45

Do it yourself Credit Repair

Do it yourself Credit Repair by Rob Kosberg You found yourself in a very bad financial situation ... . You need to look long and hard at your credit use and spending habits. It doesn’t mean a “debt consolidation,” program or a home equity loan .The word is PLAN. You will start by collecting all your credit [more...]

Date: 2009-01-11 02:41:08

How to get credit moving, UK edition

We've had the SLS, the HM Treasury Credit Guarantee Scheme (CGS) ... the idea of 'bad bank' is being batted around, and is providing support for the share prices of Barclays, HBOS, Lloyds TSB and RBS, industry watchers are sceptical it will get loans to where they are most [more...]

Date: 2009-01-12 16:48:34

Devise your own Credit Repair Plan

by Rob Kosberg You found yourself in a very bad financial situation. You may feel emotional, hopeless, guilty or all of them ... habits. It doesn’t mean a “debt consolidation,” program or a home equity loan .The word is PLAN. You will start by collecting all your credit reports, bill payment statements, and credit card [more...]

Date: 2009-01-14 23:53:58

Mortgage rates slide under 5%

Rates on 30-year fixed-rate loans fell across the country for the week ended Thursday to an average of 4 ... Altman, a partner with WestCal Mortgage Corp. in Orange, said homebuyers with good credit and a 20% down ... brokers; could lay off 100 Bad bank assets must be dealt with, Fed chief says O.C. distressed homes [more...]

Date: 2009-01-15 22:02:07

Consolidate Debt to you Credit Cards

Credit card companies are constantly looking for ways to get more customers ... , these credit card deals can work to your advantage. The Debt Consolidation blog offers insights ... to get a debt consolidation loan with virtually no fees. While this isn’t necessarily a bad strategy, you need [more...]

Date: 2009-01-08 03:01:19

Detroit Auto Show: Demonstrations inside and out

The contrast was striking: Featured at GM's news conference was a group of about 600 rowdy GM employees bused in to participate in a " ... circus over government-backed loans for the auto industry turned a harsh light on the United Auto ... , she said, they come from overcapacity, bad product choices and the broken economy. Kirsten Gibbs [more...]

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

On ABC, Dem Barney Frank Rages at 'Distortions' of Chris Cuomo

"Good Morning America" news anchor Chris Cuomo on Tuesday actually challenged liberal House member Barney Frank over how Congress has spent the ... from the left. Regarding those Americans who took out loans for more than they could pay back, he asked, "Why ... to the working men and women? Why didn't you do that first?" However, Cuomo should be given c [more...]

Date: 2009-01-06 22:46:46

Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45

Refinances Booming? Not As Much As You Think

Discount all the reports you read about Americans lining up to refinance their mortgages and take advantage of the lowest rates ever ... down. Only about a third of U.S. mortgage debt outstanding is likely to qualify for refinancing ... or Freddie Mac in the highest-cost areas. “The refinance boom is mostly impacting the people who need help [more...]

Date: 2009-01-16 00:46:03

6 Money Management Software For Personal Finance (Freelancer’s Special)

Being a freelancer is not easy and more so in these troubled times of worldwide recession ... get themselves under debt by making certain bad decisions or investments. Lets take a look ... which was first introduced back in 1991. It can be used to keep record of loans, mortgages [more...]

Date: 2009-01-08 14:41:12

Finance - Books on Personal Loans

by Jorg Maurer Personal loans and all the terminology that goes with it can make your head spin after awhile ... if you are considering obtaining one for any financial reason. Doing so can help ensure you get the right ... , there have been a couple of which yield we report upon how to compensate off debt, together with credit [more...]

Date: 2009-01-16 02:40:29

De-leveraging the Children of Wall Street

submitted by James Baker Welch, VP of Rothschild Investments One of the most stunning facts of the 2008 Financial Melt-down has been the wholesale ... regulatory agencies to determine if the institution has met the credit needs of its entire community. 1   The CRA began to compel banks to underwrite less credit-worthy mortgage loans in order [more...]

Date: 2009-01-15 15:40:18

Bush Thankathon Begins

And a final opportunity for Bush haters to vent! Air Force One, with U.S. President George W ... One. All this week we’ll be sharing our memories of the Bush presidency. Since the “news” media only covered the bad ... wrong during the past eight years and deny him any credit for what went right. Two examples [more...]

Date: 2009-01-12 18:08:04

Barney Frank "Flips Out" During An Interview AGAIN !!

If Congressmen got a report card, Barney Frank's would say "does not play nice in the sandbox with the other children" ... . Regarding those Americans who took out loans for more than they could pay back, he asked, "Why didn't ... to the working men and women? Why didn't you do that first?" However, Cuomo should be given credit [more...]

Date: 2009-01-06 23:27:00

GM, Ford and Chrysler say sayonara, Tokyo

There were some notable absences at this year's Detroit auto show, including Nissan, Suzuki and Ferrari ... . It's the latest sign that a bad economy and crashing sales are disrupting the industry ... and may lend them more after March. Ford did not take government loans but left open the possibility [more...]

Date: 2009-01-15 02:39:09

Emotional, financial and legal advice on surviving redundancy

Keep calm Remember you're not alone Redundancy can be a devastating, sometimes brutal, experience but it's not your fault. "You aren't responsible for the vagaries of the western economic cycle. You didn't start the credit crunch in your own backyard," says Phillip Hodson, a fellow of the British Association for Counselling and Psychotherapy [more...]

Date: 2009-01-08 14:45:20

Free lunch? - What does UK government funding mean to startups?

This is a guest post by Nick Halstead, CEO and founder of fav.or.it As I am in the midst of raising another round of funding for fav.or ... your Intellectual Property. The problem though is that since the beginning of the credit crunch the Banks ... up to £1.3bn of new lending by banks.’ However, there is one BIG problem, the banks still do not want [more...]

Date: 2009-01-15 09:25:59

January Effect for Credit But Not Equities

Good Evening: 2009 has put seven trading days into the books, and it already bears a passing resemblance to the opening days of 2008. Falling stock prices, rising bond prices, a strong yen, and slumping commodities represent moves that could have been plucked from the headlines during January (or almost any month) [more...]

Date: 2009-01-13 03:49:07

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

Full Text: Barack Obama on Economy | Economic Recovery and Reinvestment | January 8, 2009

(Source: Office of the President-Elect) Throughout America’s history, there have been some years that simply rolled into the next without much notice or fanfare.  Then there are the years that come along once in a generation – the kind that mark a clean break from a troubled past, and set a new course for our nation [more...]

Date: 2009-01-08 18:00:11

China to Relax Bad Debt Rules to Encourage Lending

In another sign that China's slump is serious enough to evoke crisis responses from the officialdom, ... . The objective is to encourage banks to continue to extend credit to borrowers experiencing short-term ... ,” said Liao Qiang, the rating company’s Beijing-based analyst, in an interview. “Governments tend [more...]

Date: 2009-01-12 06:19:21

Decide On Sound Audio Book Downloads

To download audio books offers many benefits to book lovers, not the least of which is that it is extremely simple. Obtain one today and you won’t be disappointed. This is recognized as an up and coming technology whose day has come. People who haven’t experienced audio books online may want to shift their outlook and consider it [more...]

Date: 2009-01-15 14:22:11

Portugal Sustains

“Art has a function of teaching about the human condition. We live in hope, hope is fundamental” - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have steadily stuck their neck [more...]

Date: 2009-01-12 14:37:23

Hoarders and Destroyers

Just when you thought it was all baked into the cake...whammo! Another pie to the face. Get ready for more pies. In fact, you could take your pick of pies this morning. The most painful pie was yesterday's 4.3% decline on the All Ords. It was the worst day of the year for Australian stocks. Unemployment called in at 4 [more...]

Date: 2009-01-16 03:04:54

What The Rise And Fall In Housing Has Done

The Ventura County Star reports from California. “Thousands of Ventura County residents were pushed out of their homes last year, and many more were left hanging on by a thread — a situation exacerbated by mounting job losses. In Ventura County, December foreclosure filings surged 37 percent from November and 97 percent from a year ago, [more...]

Date: 2009-01-15 18:16:59

Top 10 Trends In Managing Small Business Finances in 2009

There’s not much good news to report on the financial front as we move into 2009. Layoffs are occurring at breakneck speed and “out of business” signs are in high demand for many small business owners. Overall, the landscape is different than it has been for a long time, [more...]

Date: 2009-01-14 08:12:29

The deregulation and free markets myth

Walter E. Williams destroys the liberal's claim that deregulation and free markets caused the financial meltdown: News media people, ... Times article, "Fannie Mae Eases Credit To Aid Mortgage Lending" (Sept. 30, 1999), reported, "Fannie ... from the Clinton administration to expand mortgage loans among low and moderate income people. … [more...]

Date: 2009-01-15 13:28:18

Credit Bankruptcy - Essential Information

Someone once said that bankruptcy is essential in order for capitalism to survive ... (if not all) of the debt is forgiven. Are there any disadvantages? First of all, each future credit check ... into consideration for any person who intends to declare bankruptcy. The financial situation – being in debt – [more...]

Date: 2009-01-16 00:24:18

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