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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: lenders

lenders stories: 5 news summaries

Microfinance Bubble Traps Poor in Debt

Predatory lenders
offer easy cash with gouging interest rates

Aug 13, 09 8:46 AM CDT
(Newser) - Microfinance, loaning tiny sums to the world's poor to help start small businesses, began as an anti-poverty strategy but quickly became highly profitable for private equity firms and foreign investors. In India, writes the Wall Street Journal, poor neighborhoods are being bombarded with high-interest loan opportunities, resulting in a bizarre... More »

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India • loans • poverty • microfinance • predatory lending • lenders

UPDATED

CIT Strikes $3B Deal,
Averting Bankruptcy


Jul 19, 09 10:46 PM CDT
(Newser) - CIT Group Inc. has made a deal for a $3 billion rescue package from bondholders to stay afloat, Reuters reports. The board of the lender, which was facing bankruptcy, struck a tentative agreement tonight. It includes high interest rates and apparently lacks long-term solutions, reports the Wall Street Journal. But... More »

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bankruptcy • bondholder • lenders • CIT Group

Bankruptcy Looms as Feds Refuse to Bail Out CIT Group

Treasury 'drawing line in sand,' says analyst

Jul 16, 09 2:47 AM CDT
(Newser) - The Obama administration has rejected CIT Group's pleas for a bailout, and the troubled commercial lender is likely to file for bankruptcy as early as today, reports the Washington Post. CIT—which has already received $2.3 billion in TARP funds—provides financing to close to a million small- and... More »

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bankruptcy • Treasury Department • bailout • financial crisis • TARP • lenders • CIT Group

(Newser) - One of America's biggest commercial lenders is preparing to file for bankruptcy, the Wall Street Journal reports. CIT Group, which lends to about a million small and medium-sized businesses, probably won't be able to make a $1 billion payment due in August and has hired bankruptcy counsel. In the meantime,... More »

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bankruptcy • commercial paper • FDIC • TARP • lenders • CIT Group

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

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media • Sam Zell • Tribune Company • Citigroup • bankruptcy • debt • JPMorgan Chase • Chicago Tribune • newspaper industry • creditor • lenders

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