credit crunch

AIG To Absorb $5 Billion in Losses From Securities Lending

admin_huliq — Fri, 27 Jun 2008 08:46:11 -0500

AIG plans to absorb $5 billion in losses for a dozen insurance units after their securities-lending accounts suffered $13 billion of write-downs related to subprime-mortgage exposure. AIG will also inject an undisclosed amount of capital into some of the subsidiaries. Investors, in general, never want to see the words "undisclosed amount of capital" in a press release.

AMEX: credit conditions continue to worsen

admin_huliq — Thu, 26 Jun 2008 13:33:13 -0500

American Express announced intra-quarter guidance today saying that the company would be impacted by worse-than-expected credit conditions. They expect their business to be impacted as economic activity slows and consumer late-pays and credit defaults on AMEX cards continue to mount.

Global Credit Crisis Accelerates Capital Inflow To Asia's Real Estate

ruzik_tuzik — Wed, 25 Jun 2008 01:23:06 -0500

A report released by KPMG, FTSE Group ("FTSE") and Asian Public Real Estate Association ("APREA") today states that the credit crisis in the U.S. and Europe has put pressure on the decade of sustained growth in global real estate. On the other hand, the report observes the inflow of capital to Asia's real estate market is accelerating off the back of a prolonged period of steady growth which is powered by a combination of opportunistic and increasingly longer-term investments.

MBIA Posts $2.4 Billion Loss, Shocking That Worst Was Over

admin_huliq — Mon, 12 May 2008 10:49:40 -0500

MBIA posted a loss twice as large as anticipated by analysts, as the company was forced to write-down the value of its credit default swaps by $3.58 billion.

Job Data Provides Positive Economic Outlook

admin_huliq — Fri, 02 May 2008 08:46:10 -0500

Many on Wall Street, the epicenter of the credit mess, seem to think that the worst is over. For the first time in months, analysts and executives sound upbeat again. Many of them see a broad, sustained recovery in both the economy and the financial markets coming in the second half of this year, a prediction some market strategists call hopeful at best.

Paulson Reiterates Views of Other Wall Street Talking Heads

admin_huliq — Thu, 01 May 2008 17:31:10 -0500

Treasury Secretary Henry Paulson continued the recent PR blitz begun by Wall Street CEO's, claiming that as far as the credit crisis is concerned, "we're closer to the end than we are to the beginning."

EOS Airlines The Latest Casuality Of Credit Crunch Filing For Bankruptcy

admin_huliq — Sun, 27 Apr 2008 08:41:42 -0500

The Premium Class New York-London carrier EOS Airlines is forced to shot down flight operations, but the planned investment does not close.

Loan research shows 3 out of 5 inflated income at least 50%

admin_huliq — Fri, 25 Apr 2008 07:52:08 -0500

Want to know why stated income loans are called liar loans? Because people lie on stated income loans. Not just some people, some of the time and by some little exaggeration. It’s most of the people, most of the time by mostly large exaggerations.

Group Says Stop The Mortgage Bailout

admin_huliq — Thu, 24 Apr 2008 07:34:21 -0500

As lawmakers return from their two-week spring recess, more a more voices are calling for a mortgage bailout. All those greedy people who profited from the housing bubble are now expecting the federal government to come to the rescue.

Ambac CEO Claims "Worst May Be Behind Us"

admin_huliq — Wed, 23 Apr 2008 18:08:27 -0500

In an attempt to calm investors' nerves after posting $1.6 billion in losses on $3 billion in write-downs, Ambac CEO Michael Callan jumped on the bandwagon with all of the other financial company CEOs by implying that the credit crisis was past its nadir.

Credit Crunch: Chancellor Darling Urged To Help Autism Families

Autism News — Wed, 23 Apr 2008 09:38:25 -0500

Autism campaigners in the United Kingdom have urged Prime Minister Gordon Brown and his Chancellor Alastair Darling to help families with autism during the present financial turmoil.

America's First 'Credit Card War'

admin_huliq — Tue, 15 Apr 2008 10:52:16 -0500

The five-year-old Iraq conflict is America’s first “credit card war.” And like anyone who has run up a huge credit card bill knows, a credit card debt can turn into a crushing burden with long-term consequences. This, too, will be a legacy of the Iraq War.