USGovt Yuan Bond Threat
By Jim Willie CB, GoldenJackass.com Subscribe: Hat Trick Letter The tables are fast turning against the deeply indebted USGovt officials. USA Inc is in deep trouble. Its productive engines in both finance and industry are either wrecked or sputtering, even as its debt burden grows exponentially. Debt default litters the landscape. Next its sovereign bonds will be have to be sold to some extent outside the US$ Sphere, which will put at great risk its stock, namely the USDollar itself. [more...]
Date: 2009-07-30 19:24:15
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The Curious Case of Ecuador’s Default – And Why It Matters
Thomas Trebat | RGE Monitor, Jan 8, 2009 One of the questions concerning Latin America in 2009 is whether or not the region will be plunged into yet another dismal round of debt defaults as commodity prices stay low and foreign capital ... birth to the term “serial defaulter”, Ecuador’s mid-December decision to default on its bonded debt [more...]
Date: 2009-01-10 04:53:00
Chances of a US Debt Default?
dice.jpg Thanks to credit derivatives (financial contracts that allow investors to speculate on / protect against default) we can observe how likely global markets think that it is that the United States will default on its mounting debts. Last week, markets pegged the probability of such a U.S. default within the next [more...]
Date: 2009-01-15 21:18:01
Realogy Now on Endangered List
A: Realogy was taken private by Apollo Management in a $6.6Bln LBO, from NRT last year. Talk about ill timing ... of its bank loans and is trying to swap $1.1 billion of bonds for new debt at a discount. A default does ... to negotiate new debt terms with their creditors. But with so many defaults looming, experts warn [more...]
Date: 2008-11-19 14:23:28
Corruption charges prompt Congo to lobby Congress
In the past few years a handful of private equity or hedge funds have garnered a reputation as “vulture funds,” a term coined to describe companies that profit from the debt of extremely poor countries. The hedge funds buy defaulted debt for pennies on the dollar, then sue them later for the full amount owed in U.S. and European courts. Both in 2008 and earlier this year, members of Congress introduced bills to protect these debtor nations from lawsuits. [more...]
Date: 2009-09-18 19:08:25
Taxpayer Advocate’s Recommendation: Go Easier on Taxpayers Experiencing Economic Hardship
Nina Olson, the National Taxpayer Advocate, has released her Annual Report to Congress (PDF) ... having difficulty paying their tax debts. 2. Simplify “Cancellation of Debt” Rules for Foreclosures Simplify the “cancellation of debt” minefield that many taxpayers who default on debts must navigate [more...]
Date: 2009-01-08 02:37:42
Restrictions on Wage Garnishment for Debt Collection
Many debtors that have defaulted on their credit card debt or other unsecured loans are concerned about their wages being garnished. Often collection agencies will threaten to turn your debt over to their ‘legal department’ ... for you… at no charge. The U.S. Department of Labor has developed The Federal Wage Garnishment Law [more...]
Date: 2008-11-30 16:13:23
Will Obama Nationalize U.S. Private Pensions?
Earlier today I received an email from a concerned member of the Sovereign Society: " ... . In 2001 Argentina defaulted on $95 billion worth of government debt after a three-year economic meltdown that left Buenos Aires in bankruptcy. At the time, that was the biggest government debt default [more...]
Date: 2009-01-16 02:42:07
Muni bond yields jump as states' fiscal woes worsen
Yields on tax-free municipal bonds are soaring again, pushed up in part by deepening budget woes in California and other states ... against default on California state debt than on the Mexican government’s debt. As investors ... and local government agencies -- will have trouble making debt payments. Although few analysts [more...]
Date: 2008-12-11 02:40:13
A Statement By The Financial Economists Roundtable
During the last few decades, securitization has become a primary channel for enlarging financial markets and transferring ... market in which investors count on ratings firms to ascertain the quality of debt. Meeting in Glen Cove ... debt. The scope and scale of ongoing ratings downgrades and defaults on securitized debt make it [more...]
Date: 2008-12-02 00:29:11
A Statement By The Financial Economists Roundtable
During the last few decades, securitization has become a primary channel for enlarging financial markets and transferring ... market in which investors count on ratings firms to ascertain the quality of debt. Meeting in Glen Cove ... debt. The scope and scale of ongoing ratings downgrades and defaults on securitized debt make it [more...]
Date: 2008-12-02 00:29:11
Low Rate Loan For Poor Credit People
by katie George Sometimes bad credit history like unpaid debt, default, arrears, bankruptcy, ... ,home improvements or even for debt consolidations. About the Author: Finance Ideas Discover Gold [more...]
Date: 2009-01-02 11:36:14
Taxpayer Advocate Gripes About IRS
Taxpayer Advocate Gripes About IRS August 25th, 2008 According to the Seattle Post Intelligencer, Nina Olson, ... in place to assist victims of identity theft. • Cancellation of debt income. When an individual ... their homes to foreclosure or who default on car loans or credit card debts. Last year, Congress passed [more...]
Date: 2008-08-25 13:51:49
Collection Agency calling from 571-431-1958 (Washington, VA)
Steve reported a Collection Agency (5714311958 from Washington area, VA) . The following comments were posted: AACC AACC AACC 5127689800 AACC 804-234-9056 assetacceptance.com Asset Acceptance is a leading purchaser and collector of charged-off consumer debt. Since 1962, we have provided credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. [more...]
Date: 2009-09-25 19:53:49
Kremlin Declares its Sphere of Influence in Business
It is rational and logical for some governments to declare certain sectors of the economy as sensitive to national security, ... companies cut jobs, salaries and investment plans, forced consolidation in Russia's 1,000-plus banking sector and prompted a rise in corporate debt defaults. "The inclusion of a company in the list does [more...]
Date: 2008-12-26 15:20:56
What’s next for Lee?
Although its stock has been pummeled to pennies per share and its auditors have stated the company is in danger of defaulting on $1.4 billion in debt, Lee Enterprises still produces a larger operating profit, percentage-wise, than ... to make a $142.5 million debt payment due this spring.Because Lee is unlikely to have the cash to pay [more...]
Date: 2009-01-05 04:15:00
Additional Thoughts on the Bailout By Paul Craig Roberts
Dandelion Salad By Paul Craig RobertsOctober 16, 2008 “Information Clearinghouse“ “We hang the petty thieves and appoint the great ones to public ... , necessitating the purchase of yet more troubled instruments. If credit card debt has also been securitized and sold as investments, as the economy worsens defaults on credit card debt [more...]
Date: 2008-10-17 22:15:23
How To Stop Bill Collectors From Harrassing You
A reader at Sample Debt Validation Letter asks how to get a collection agent to stop harassing her ... . Who can I report her to? And how do I get her to quit harassing me? The debt is an old credit card ... of all, once you enter the world of defaulted credit card debt - what good is it doing to talk to these people [more...]
Date: 2008-12-02 03:45:37
Everything wants to be free: Chris Anderson
Listen to Wired editor-in-chief and Long Tail author Chris Anderson being interviewed by Peter Day on the BBC World Service’s Global Business ... of its services. There can be a payoff even in providing free services. Anderson mentions Google’s free ... . But it is drowning in a sea of red ink and could default on $400 million in debt in May, writes [more...]
Date: 2009-01-13 16:16:51
Everything wants to be free: Chris Anderson
Listen to Wired editor-in-chief and Long Tail author Chris Anderson being interviewed by Peter Day on the BBC World Service’s Global Business ... of its services. There can be a payoff even in providing free services. Anderson mentions Google’s free ... . But it is drowning in a sea of red ink and could default on $400 million in debt in May, writes [more...]
Date: 2009-01-08 07:48:41
New York Times Pulls Punches On Wall Street Bubble Era Pay
Why is no one willing to call things by their proper names, and instead resort to euphemism and double-speak? ... and then default on their debt obligations. Bankruptcy for profit occurs most commonly when a government guarantees a firm's debt obligations. The most obvious such guarantee is deposit insurance [more...]
Date: 2008-12-18 10:05:59
The Coming Capital Flood
Excesses in the financial sector have spilled into all sectors of the economy and are spelling global recession ... instruments, created in the period 2004-06, outstanding, whose settlement upon maturity or other ... debt obligations and credit default swaps. The former have origins in asset-backed deals, trusts [more...]
Date: 2008-11-19 17:00:08
Christopher Campbell's The Moviegoer - All I Want for Christmas
Want to buy a multiplex? In the coming weeks or months, a number of National Amusements cinemas should be up for sale ( ... that $800 million debt he was supposed to settle by December 19th, which has come and gone without ... the banks could do about the matter. After all, Redstone already defaulted on the debt [more...]
Date: 2008-12-22 14:30:53
What We Talk About When We Talk About News
Updated: Old-media newsrooms are dying, as are some of their less-lucky online rivals ... of collecting relevant stories — more often than not ones published by enterprises that are cutting back ... of the past few years, risks defaulting on $400 million in debt this spring. And yet this week [more...]
Date: 2009-01-10 17:00:26
Is German (and Japanese and Chinese) frugality the problem?
Martin Wolf writes in today's FT: What are Germany's characteristics? ... , Portugal, and Spain--but mainly Greece) are at some risk of defaulting on their debt if the recession drags ... and Greeks and others) never would have been able to run up so much debt and get into so much financial [more...]
Date: 2008-12-10 11:51:44
Short sellers unbound; Lehman D-Day looms; and more
A few items of note from around the markets today: --- Free to Be Short (Again) ... Lehman Bros. Holdings Inc. Those derivatives -- insurance policies against a debt default ... from billions of dollars of settlement costs, as investors who wrote the insurance are forced to pay [more...]
Date: 2008-10-09 11:00:31
Bad Credit Mortgages
Bad Credit Mortgages Posted by Dark Spider at December 26, 2008 Many people these days have an adverse credit mortgage rating ... isn’t difficult to get, but unless you take some professional advice, you may not get the best deal ... or suffered other debt problems, such as defaults,non payment of utility bills. Maybe [more...]
Date: 2008-12-26 00:07:19
National Debt Relief Stimulus Plan Fights Recession and Unemployment
The U.S. economy has lost 5.7 million jobs since the recession began in December 2007. This frightening loss, which heightening the $2.3 trillion consumer debt epidemic, incapacitated huddles of Americans to default on financial obligations to their creditors. Aiming to curb the unemployment crisis, DebtFreeLeague.com rolled out the National Debt Relief Stimulus Plan. The incredible debt reduction benefit couldn’t have arrived at a more opportunistic time. [more...]
Date: 2009-09-05 09:06:40
A Convenient Scapegoat for the Loan Industry
The Bush administration and lawmakers from both political parties are continuing to look for ways to help struggling student loan providers ... ), knowing full well that some of this debt was likely to go into default. While many lenders ... and Access Act -- specifically, the elimination of $18 billion in subsidies to private lenders [more...]
Date: 2008-10-21 20:25:05
Ukraine Wobbles As The Financial Ground Beneath It Trembles
The medium-term outlook (for Ukraine) is sensitive to both external developments and policy responses ... 2006 Article IV Consultation Staff Report (February 2007) Ukraine’s economy is in trouble, there is no doubt about it. The cost of protecting debt against a sovereign default by Ukraine’s government [more...]
Date: 2008-10-12 12:15:13
How debt did in America’s newspapers
The stock of Lee Enterprises was worth about $1.5 billion when the company borrowed almost an identical amount of money to buy the Pulitzer newspaper ... default on $1.4 billion in debt, the unpaid remainder of the money it borrowed to finance ... n its debt and render their shares worthless.Lee is but one example of what happened to many p [more...]
Date: 2008-12-22 03:00:00
IRS Tax levy, Tax Collection, Tax Lien, Foreclosure Debt Foregiveness Rules May Be Amended.
Los Angeles, California - IRS will be improving IRS tax procedures to protect victims of tax-related identity theft and expanding outreach and ... to assist identity theft victims. 3. Cancellation of Debt Income. When an individual or business ... to foreclosure or who default on car loans or credit card debts. Taxpayers may exclude the amount [more...]
Date: 2008-07-22 19:43:56
A Bubble in Bearishness
Nouriel Roubini: Last year’s worst-case scenarios came true. The global financial pandemic that I and others had warned about is now upon us ... of defaulting on their sovereign debt. Certainly, the United States will experience its worst recession [more...]
Date: 2009-01-08 00:26:43
Ecuador's Debt Default: Exposing a Gap in the Global Financial Architecture
Neil Watkins and Sarah Anderson | December 15, 2008 Editor: Emily Schwartz Greco Foreign Policy In Focus www.fpif ... people got stuck holding the bag. Over the years, the country has made debt payments that exceed ... reschedulings, conversions, and some further borrowing, Ecuador's debt has risen to more than $10 billion [more...]
Date: 2008-12-17 04:01:00
HOW TO HELP PEOPLE WHOSE HOME VALUES ARE UNDERWATER
The more than 12 million homeowners with mortgage debt have an incentive to default because mortgages are generally "no-recourse" ... or income to make up the difference between the unpaid loan balance and the lower value of the house ... up about $27,000 of potentially uncollectible debt but would avoid the extra loss of value that comes with selling [more...]
Date: 2008-11-19 14:59:56
Are Junk Bonds A Buy?
In what I expect to be a wave of big name corporate bankruptcies, Canadian telecom giant Nortel files for bankruptcy protection.Nortel (NT) ... consider Junk Debt Showing Great Depression Defaults Lures Investors.Record yields on high-risk, high- yield bonds and loans are luring Babson Capital Management LLC and TCW Asset Management Co., even [more...]
Date: 2009-01-14 19:25:00
The Most Important Number for Technology Policy in 2009
Is $1,200,000,000,000.00. That’s the expected 2009 Federal budget deficit. Since the current Federal debt is estimated at a “mere” $10.6 trillion, this means that we’re expected to add nearly 9% in a single year to a debt accumulated ... in history as the man who finally caused the U.S. government to default on its unmanageable debt [more...]
Date: 2009-01-08 20:59:16
Cold facts of how we could be ‘Iceland inside the euro’
Could the unthinkable come to pass here? Could Ireland default on its sovereign debt? The answer is yes. Such a disaster is now quite possible. In the same way as a family can end up losing the house, the car, everything, a country, too, can fail to make its repayments [more...]
Date: 2009-01-14 04:44:29
Michael Hudson: We Let The Crooks Take Over (2007)
December 7, 2008 — dandelionsalad Dandelion Salad Update: Thanks to CMike for the following info on this show: Guns and Butter, for August 22, ... Strategy of American Empire”. Visit his website at www.michael-hudson.com. Note: this is an old show ... s Cascade of Lies by Michael Hudson Will the US default on its foreign debt? Interview with Michael [more...]
Date: 2008-12-07 11:50:05
Ireland Won’t Be Going To The IMF
This is very reassuring news. I slept a lot better last night after reading it ... will need IMF financing, after an Irish broadcaster reported that the country may need IMF help ... will default on its sovereign debt, jumped close to record highs before Dublin’s denial. The government [more...]
Date: 2009-01-15 07:44:58
Ainda o “downgrade” da S&P (3)
Bloomberg The risk of losses on European government bonds is mounting as the economic slowdown threatens credit ratings in Ireland, Portugal, Spain and Greece. Credit-default swaps tied to the debt of Ireland rose more than seven-fold ... to be threatened with a debt downgrade when Standard & Poor’s said the country’s long-term rating [more...]
Date: 2009-01-14 11:03:02
Clearer Tax Laws, Help for Struggling Taxpayers Urged
The seemingly endless reams of complex federal tax laws and regulations need to be simplified, ... Code New York Times: Gentler Tax Laws Urged on Debt Default CNNMoney: A Kinder, Gentler IRS? Wall ... on financially struggling taxpayers: "1) Make greater use of collection alternatives when economic [more...]
Date: 2009-01-09 17:03:22
Interest Rates
Most short-term investment issues (other than U.S. governments) ... s. The rating reflects the creditworthiness of the issuer, the amount being raised given existing debt ... default risk, a number of other factors influence the overall rate or yield on an instrument [more...]
Date: 2009-01-15 05:49:04
Private Equity: It?s Not a Downturn, It?s a Decimation
Private-equity mavens like to describe the credit crisis as a “perfect storm” or “financial tsunami, ... funds to default on their debt; as many as 40% of buyout firms to shutter their own operations ... of the boomlet in responsibility-free debt resulting from private equity’s LBO feast from 2003 [more...]
Date: 2008-12-23 12:03:00
Dr. Doom says we have a long way to go
Lately I've taken to listening to Bloomberg News while in the car on my way to and from work ... ; a few emerging-market economies entering a full-blown financial crisis, and some at risk of defaulting on their sovereign debt. Certainly, the United States [more...]
Date: 2009-01-13 11:43:01
Your tax dollars at work?
By Denise Ross If you can believe Rapid City property developer Doug Hamilton -and that does seem to be a big “if” - our tax dollars helped fund ... of his loan defaults, bounced checks and his bad business debt that stretches into the 10s of millions. ($18M in foreclosures so far, and possibly up to $45M in total debt, he says.) It all makes [more...]
Date: 2009-01-13 15:12:53
Economic Turmoil Causing Credit Card Changes
The economy's roller coaster ride has left most Americans wondering how the recent events will affect their personal financial situation ... , CEO of LowCards.com and author of The CreditCard Guidebook. "Lenders are now focused on limiting ... against cardholders who have taken on too much debt and have increased the risk of defaulting [more...]
Date: 2008-10-02 20:27:18
Discover Now Important Knowledge - Loan Basics
A loan is a type of debt and refers to one involving a cash sum paid to the borrower by the lender ... people. Anyway this article is dealing with those of a financial nature. Unlike other types of loan ... to the property until the debt is paid back in full. Defaulting on a loan like this means that the bank [more...]
Date: 2009-01-03 14:23:35
The New York Times: Defunct by May? Um, Maybe not.
Michael Hirschorn got news industry observers sputtering last week by opining that, based on his analysis of the New York Times Company's balance sheet, the Great Gray Lady might run ... will have to be taken over the next five months or the paper will default on some $400million in debt [more...]
Date: 2009-01-14 03:07:57
Ireland And An Unstable Europe, Again
According to Bloomberg (citing the RTE website), the Irish Prime Minister said in Toyko today that Ireland may need to call in the IMF if economic ... , is that Ireland is not alone in facing economic difficulties - the risk of default, potential debt [more...]
Date: 2009-01-14 14:43:22
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