Could the USA go bankrupt?
As Americans go to the polls to elect a new president this week, ... , there is a long and regular history of domestic and foreign credit default. (including the USA and one province in Canada) As one blogger writes: a longer-term examination of debt markets [more...]
Date: 2008-11-02 17:37:08
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"Advanced BioEnergy" Ethanol Company Seeking Merger or Sale
The failed ethanol industry has another company about to go under, as Advanced BioEnergy (ABE) ... the company outright.It's already defaulted on a $10 million loan in October 2008, and is in even bigger ... , other considerations are to issue more debt, sell some of its operating assets or equity [more...]
Date: 2009-01-15 20:44:00
Five Factors That Can Determine the Fate of the U.S. Dollar
As many economists and analysts have noted, the stability of the US dollar is a key issue in our current times of economic turbulence ... of as default insurance; the buyer makes regular payments, and the seller makes a payoff ... will not be able to pay off its debt, or will have difficulty doing so, it introduces concerns [more...]
Date: 2008-11-11 09:37:37
Sign of the times: Ecuador defaults on bond payment
From Bloomberg: Ecuador won’t make a $30.6 million bond interest payment due next week, ... , calling the debt “illegal” and “illegitimate,” said the government will present a restructuring proposal [more...]
Date: 2008-12-12 20:26:43
Citi Sues Morgan Stanley Over Credit Default Swap
Citigroup sued Morgan Stanley on Friday for breach of contract, saying the Wall Street firm owed it $245.4 million for protection it bought on a loan, Reuters reported.Citibank bought a credit default swap from Morgan Stanley & Co. International in 2006 on a $366 million revolving credit facility it provided to an issuer of collateralized debt obligations, according to the complaint filed in U.S. [more...]
Date: 2009-09-28 08:04:52
Update1 Local Housing Could Get $35 Billion in Aid
There are several approaches you can take when reacting to the announcement that Washington has proposed kicking in $35 billion to support local housing. While some lawmakers — most notably Barney Frank in recent months — have advocated for additional home-ownership programs (some which cater to low-income and under-qualified borrowers), other lawmakers, like Rep. Scott Garrett (R., N.J.), feel that instead of becoming more involved in housing, the government should be withdrawing itself. [more...]
Date: 2009-09-29 18:21:33
Kuwait’s Investment Dar keeps lenders at bay with “standstill agreement”
Sep 27th, 2009printemailPost a comment The Investment Dar Co., a Kuwaiti financial institution that owns half of Aston Martin, has negotiated a “standstill agreement” with lenders as it works to restructure its debt, reported Bloomberg on Sunday.“The consenting banks and investors will, for the duration of the standstill agreement, suspend individual claims relating to investment arrangements,” it said in a statement.Investment Dar defaulted on a $100 million Islamic bond this April, prompting [more...]
Date: 2009-09-27 12:42:50
Moody’s Techniques Deeply Flawed – Analyst Blog
Moody’s allegedly hastened the credit crisis earlier in the decade by assigning top ratings to mortgage-backed securities that deteriorated later. Moreover, it is being probed by regulators worldwide, with several ongoing reviews in Europe for rating a European debt product, constant proportion debt obligations (CPDOs), at a higher-than-merited AAA. According to the Wall Street Journal , Eric Kolchinsky a former analyst with Moody's Corp. [more...]
Date: 2009-09-28 14:34:15
The 7 new rules of financial security
In a world turned upside down, you must re-examine some basic assumptions. A good place to start: understanding the true nature of risk.John Maynard Keynes, the Depression-era economist who’s having quite the comeback, once quipped when he was accused of inconsistency: “When the facts change, I change my mind. What do you do, sir?”Money has long advocated the benefits of consistency in your investing and financial planning. [more...]
Date: 2009-09-29 10:57:27
Financial follies revisited
One year ago last weekend I was in Reno walking precincts for Barack Obama. We watched the debate with John McCain at our casino hotel room. After that weekend I was never concerned that Obama would win -- McCain had "temporarily suspended" his campaign in response to the economic crisis and looked like a panicky fool. People simply were not going to elect such a pathetic creature at a moment when they were seeking leadership. [more...]
Date: 2009-09-28 07:10:00
How to Be Aware of What Credit Counselors and Consolidators are Really Offering
This is a guest post from Matt B . Matt writes about all aspects of personal finance at Financial Methods . Please visit the site and let him know what you think. If you are at a point in your life where you have realized that the debt you lug around behind you weighs you down too much, good for you. If you are stuck at the beginning of the battle and not sure where to go next, just know that there are plenty of options. [more...]
Date: 2009-09-28 11:01:51
Where has the Bailout Money Gone? Good Billions After Bad
Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. [more...]
Date: 2009-09-28 06:17:36
The Politics of Inflation: Theft by Other Means
By Charles Hugh Smith, OFTWOMINDS A little inflation is supposed to be “good.” From the perspective of the wage earner and taxpayer, it’s simply “theft by other means.” Deflation is supposed to be horrible and awful, and a steady dose of inflation is supposed to be “good.” So your cash gaining value is awful, and it’s great when it is robbed by inflation. How “good” is that? I’ve been pondering the politics of inflation. Here are the dynamics I discern: 1. [more...]
Date: 2009-09-29 01:58:44
A Bias to Buy the Dollar
Well… Russia has thrown a cat amongst the pigeons this morning with a rate CUT… Let me tell you why this is a big deal… Well, everyone is thinking that the go-go countries of Norway, Australia, and Brazil will probably begin their rate hike cycles this year… While the US drags its feet and wallows in the zero rate mud… The thinking was that the rate differentials to the dollar would begin to widen, causing even more pain for the dollar. [more...]
Date: 2009-09-29 16:12:57
A Bias to Buy the Dollar
Well… Russia has thrown a cat amongst the pigeons this morning with a rate CUT… Let me tell you why this is a big deal… Well, everyone is thinking that the go-go countries of Norway, Australia, and Brazil will probably begin their rate hike cycles this year… While the US drags its feet and wallows in the zero rate mud… The thinking was that the rate differentials to the dollar would begin to widen, causing even more pain for the dollar. [more...]
Date: 2009-09-29 22:32:30
Debt loans for people with poor credit scores
If you have bad credit, you will probably find it extremely difficult, the loans you need to pay your debts. Creditors and banks only want to do anything with you. The best way to remedy this is with debt loans. They are people like you who are placed in unfavorable situations. The best thing about these loans is that you can use the money anyway you want. There are no guidelines or restrictions on how the money must be used. With these loans, you must no longer a question, refused a loan to care. [more...]
Date: 2009-09-29 11:51:29
Approved
Congress OKs release of final $350B of bailout- AP “Congress laid the foundation for President-elect Barack Obama’s economic recovery plan on ... for the financial industry while majority Democrats proposed spending increases and tax cuts totaling a whopping ... but balance sheet solvent if it holds illiquid assets, particularly against short term debt. [more...]
Date: 2009-01-16 00:29:11
How Can I Get Money for Plastic Surgery?
by Leonard Dawson Financing plastic surgery is not like financing a car or a home. Banks, as you may have guessed, are very careful about who they loan plastic surgery money to. They will very carefully consider your credit history, including late payments, defaults, your bill payment history, and how long you’ve had credit accounts. A loan to pay for plastic surgery is an unsecured debt, meaning there’s not collateral for the bank to repossess in the event of a default. Your credit score wi [more...]
Date: 2009-09-29 20:33:13
How Can I Get Money for Plastic Surgery?
by Leonard Dawson Financing plastic surgery is not like financing a car or a home. Banks, as you may have guessed, are very careful about who they loan plastic surgery money to. They will very carefully consider your credit history, including late payments, defaults, your bill payment history, and how long you’ve had credit accounts. A loan to pay for plastic surgery is an unsecured debt, meaning there’s not collateral for the bank to repossess in the event of a default. [more...]
Date: 2009-09-29 20:33:13
How Well Has The Federal Reserve Performed for America?
Washington’s Blog strives to provide real-time, well-researched and actionable information. George – the head writer at Washington’s Blog – is a busy professional and a former adjunct professor. ~~~ How well has the Federal Reserve performed for America? Mainstream pundits, of course, say that Bernanke has saved the world . . . . but they said the same thing about Greenspan . So let’s look at the actual historical record to determine how well the Fed has done. [more...]
Date: 2009-09-29 12:30:39
No Credit Check Loans – Help and Advice
by Jimmy Tyrrell Thinking about a no credit check loan but not sure of all the facts? If so, you should invest a few minutes reading this. By the end of this article you should be better informed to decide if no credit checks loans are for you, and as there is more than one type of no credit check loans which one you should consider. Firstly, we must address the subject of no credit check payday loans. Because of the reasons described below these loans might not be an option. [more...]
Date: 2009-09-29 11:35:37
Common Types of Guaranteed Loans
When you hear the term guaranteed loan, most likely you think of a loan that is guaranteed to be issued. Or maybe you think of a loan that is guaranteed to be paid in full. Depending on your perspective, a guaranteed loan can mean different things. In truth, there are several types of guaranteed loans, some more common than others.Guaranteed personal loans are a very common kind of guaranteed loan. They are issued to almost everyone who applies for once, hence the name guaranteed. [more...]
Date: 2009-09-29 01:02:50
War Made Easy_Brainwashing…Why a Global Economic Deluge Looms June 2006!!
War Made Easy… http://www.warmadeeasythemovie.org/ War Made Easy Reaches into the Orwellian memory hole to expose a 50-year pattern of government deception and media spin that has dragged the United States into one war after another from Vietnam to Iraq. Narrated by actor and activist Sean Penn, the film exhumes remarkable archival footage of official distortion and exaggeration from LBJ to George W. [more...]
Date: 2009-09-29 14:26:05
Fast Student Loans Master Key- Pointers to Reveal the Good Colleges
Fast Student Loans Master Key- Pointers to Reveal the Good Colleges by Andrea SouthIf you are requiring bad credit student loans, you have fought with ruined finances in the past, or have not had time to get a great credit rating. Both of these aspects contribute to what is known as bad credit history, and acquiring student finances under both of those categories can be difficult at best.There are a few methods you can utilize to make bad credit student loans possible to gain. [more...]
Date: 2009-09-29 17:21:06
Discover How To Make The Best Deals With Original Creditors
By Michael Redbourn There are lots of articles around that explain how to talk or not talk to debt collectors and many people think that they should handle negotiations with the original creditor in the same way, and that's absolutely wrong. The original lender doesn't have to help you at all, but if you handle the negotiations in the right way you might save yourself around 45% of your total debt, and you might get the very best comment on your credit report too. [more...]
Date: 2009-09-29 01:02:09
London Banker: “The market has failed, and officialdom is perpetuating that failure.”
Ever since the two Bear Stearns hedge funds defaulted 17 months ago triggering a global financial crisis, ... to fight credit contraction is by flooding the financial system with liquidity (”quantitative easing” ... one’s way out of a debt bust.” Bernanke’s strategy may provide some temporary relief, but it won’ [more...]
Date: 2008-12-18 12:43:51
Downturn Pounds Commercial Real Estate
And despite the tone of this article, some people believe it will be worse than the residential crash: Contractors, ... reeling from a historic housing depression. “This is a rolling problem that’s only going ... values. “Businesses need to be able to access the credit market when their debt comes due [more...]
Date: 2009-01-12 15:04:37
Sellers of Tribune CDS Protection Face Large Payout
Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives ... agency, had already suggested that recovery values would be “negligible” for the bonds, at between zero and 10% for secured notes and debentures, senior unsecured debt, and subordinated debt [more...]
Date: 2009-01-07 09:50:00
Sellers of Tribune CDS Protection Face Large Payout
Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives ... agency, had already suggested that recovery values would be “negligible” for the bonds, at between zero and 10% for secured notes and debentures, senior unsecured debt, and subordinated debt [more...]
Date: 2009-01-07 09:50:00
To embargo or not to embargo
Full disclosure. I like Cuban cigars and on occasion risk possible prosecution by ordering a few of them on the Internet ... stopped payment on all its foreign commercial and bilateral debt with non-socialist countries in 1986." disclosed U.S. International Trade Commission Report in 2001. "Debt talks between Cuba [more...]
Date: 2009-01-14 18:00:10
VC Investors Defaulting on Capital Calls; PE Investors Just Say No
Yet another credit crunch casualty: venture capital firms, and potentially, their portfolio companies ... to replace maturing debt (many of the recent deals had been done with a large component of short ... in the dot-com bust, when funds were (effectively) told to shrink because the money crowd did not want [more...]
Date: 2008-12-08 04:27:02
What Happens When You Default on Your Student Loans?
As the economy tanks and employment skyrockets, the number of former students struggling to pay off their student loans is likely to grow, too. While failure to repay any debt can have serious consequences, not making payments ... student loans are one of the only forms of debt that cannot be discharged in a claim of bankruptcy [more...]
Date: 2008-12-15 17:38:59
Bill Gross: Investment Commentary (Jan. 2009)
In his January issue of Investment Outlook, Bill Gross, PIMCO’s CIO, wonders, after all that has been said and done: ... disguised knock-off of the New Deal?“ Better, some thought, to have followed the advice of early ... to pouring gasoline on a fire, adding trillions of dollars of new debt to a domestic and global economy [more...]
Date: 2009-01-14 22:50:44
Can we pay for all these hamburgers?
Our position isn’t as dire as other nations might be. This was a helpful article: So what’s the moral of the story? ... , getting our debt burdens down will hinge on Obama’s and Congress’s willingness to confront the looming ... The Obama administration should not focus on debt reduction now, which could actually undermine [more...]
Date: 2009-01-15 21:10:54
Lex: Citi’s changing future
So much for a fresh start, says Lex. Citigroup has sealed its retail brokerage JV with Morgan Stanley and is planning to spin off higher-risk portions of its consumer finance and investment banking businesses. The result? The bank’s share price is down more than a third in the past week, while the price of insuring its debt against [more...]
Date: 2009-01-15 05:43:42
Re-coupled Vengence: From Downturn to Implosion Risks ?
We've spent a bunch of time on the US economic outlook and the news, as you'd expect, continues to move from bad to worse ... the shallowness of the analysts involved grasp. But that's no longer the problem. Accelerating worldwide ... for the European schadenfreude that this was "just" a US problem. Developing Countries They also issued [more...]
Date: 2009-01-15 21:20:15
Planning for a Rainy Day
There may be nothing worse for a business than to have its owner suddenly die. . . especially if it’s your business. Let’s look at what can happen when an owner dies. Joe Carpenter was the 55-year-old sole owner ... as well and decided to call in his company’s debt — debt Joe personally guaranteed. Within weeks [more...]
Date: 2009-01-15 18:18:00
Recession Proof Your Credit Rating
With the unstable state of the economy, many customers are concerned about the rising interest rates and the roll-backs that are taking place on ... from credit card use and repay secured debt. For many customers, a savings account provides a viable ... . These customers are more likely to repay the debt, rather than default and are seen as a lesser risk [more...]
Date: 2009-01-14 19:00:30
Debt Collection Agency
It’s hard to eke a living these days. Cost of living has gone up so much since June and many of my relatives and friends are finding it hard to make ... a chicken rice seller. He did say that he might want to engage a Debt Collection to help him with the debt collection part. This is the last resort for him. I heard that there might be a high cost [more...]
Date: 2009-01-15 17:14:22
Citigroup, MS, AMAT, FRP, BOBE, CF, TRA, CRBC Popular Stocks
U.S. stocks were trading higher Monday, with the Dow Jones Industrial Average rising 134 points to 9799, the S&P 500 gaining 18 points to 1063 and the Nasdaq Composite increasing 42 points to 2133.Citigroup (NYSE:C, $4.53, +$0.15, 3.42%) filed a suit against Morgan Stanley Inc. (NYSE:MS, $30.94, +$0.39, 1.28%) on Friday for allegedly breaching an agreement related to credit-default swaps. The suit contends that Morgan Stanley owes more than $245 million to Citi.Applied Materials Inc. [more...]
Date: 2009-09-28 18:56:25
A default dynamic of stupefying complexity
The deflationists of the world might want to have a look at what is, without a doubt, ... of moderate inflation would be extremely helpful in unwinding today’s epic debt morass. Yes, inflation ... creditors to accept repayment in debased currency. Yes, in principle, there should be a way to fix [more...]
Date: 2008-12-14 20:47:13
Foreclosure Bank Owned Properties for Bargains
There are many websites online that can provide the home buyer with listings of foreclosure bank owned properties that can be had at bargain ... a default fee. However once a property owner is in distress financially they are rarely able to catch ... a limit price on the property. Usually based on what is owed to them in terms of the debt plus [more...]
Date: 2009-01-15 14:20:00
Learn The Art Of Making Money Online Line With Cash Jobs
Need money fast? click here now to find out how the pros do it! A personal loan is money you borrow from a lender for your own private use ... or remodeling, legal bills, and debt consolidation. The average personal loan maximum is $15,000. The amount ... . The lending institution can be a bank, investment broker, or private lending company [more...]
Date: 2009-01-15 15:53:26
Student Loan Default: How to Deal with It
by William Blake The Department of Education has many different avenues with which it works hard to get money back from individuals whose student loan payments have turned into student loan default. Defaulting on a federal student loan can become such a costly event that it often becomes more expensive than an individual’s original student loans [more...]
Date: 2009-01-15 12:05:44
How To Contact Creditors To Help With Credit Repair
Good credit has become nearly a necessity these days. Credit has become almost essential to buying a car or a home ( ... a problem because you’d be surprised at what kind of credit repair you can accomplish by being ... out of embarrassment or even fear. Unfortunately, it’s best to deal with the problem immediately [more...]
Date: 2009-01-15 23:57:12
The Coming $1.7 Trillion Deficit, and How It Will Buy Us All Unicorns and Handjobs
—Ace Scary stuff. When I supported the TARP bailout, this is what I was hoping to avoid. I see now -- not so much, not so much. We are in the midst of a crisis caused by so many financial institutions borrowing too much money. Somehow, a critical mass of policy makers now believes that the correct response is for the U.S [more...]
Date: 2009-01-13 20:57:26
Gordon's Big Porkie
At PMQs Gordon told Dave that around the world "no one except him is proposing we cut public spending at this time" ... on government debt within the next five years. If government spending is not controlled, Gordon really ... : Cameron was wading into the VAT reduction (at a national cost of £12bn it's giving two packets of crisps [more...]
Date: 2009-01-14 08:29:06
Kelly McParland: The frightening fortunes of the New York Times
There's an old witticism that goes something like: "A recession is when your neighbour loses his job. A Depression is when you lose yours ... on some $400million in debt. With more than $1billion in debt already on the books, only $46million in cash reserves as of October, and no clear way to tap into the capital markets (the company’s debt was [more...]
Date: 2009-01-14 15:30:00
Secured Debts - Why Your House Mortgage Must Not Be Overlooked
A simplify definition of debts are money due or own to people under an express agreement to repay ... of the property, and is based on the principle that if you fail to pay or default on your payment ... is to be avoided whenever possible. When that happens, you also lose all the payment that you have already [more...]
Date: 2009-01-15 23:26:29
Nuclear warning to taxpayers, investors, part 2
By Joseph Romm Part 1 presented a new study that puts the generation costs for power from new nuclear plants at from 25 to 30 cents per kilowatt-hour -- triple current U.S. electricity rates! Nuclear plants with such incredibly expensive electricity and "out of control" capital costs, as Time put it, obviously create large risks for utilities, [more...]
Date: 2009-01-10 12:44:19
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