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Stories related to: credit market

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Stories 21 - 40 of 49

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February 2008
- Buffett Offers to Save Municipal Lenders
  
  Bloomberg | Feb 12, 08 2:39 PM CST
  
  (Newser) - Warren Buffett rode to the rescue today, though the color of his horse is in question. The Sage of Omaha offered to reinsure $800 billion worth of municipal bonds, resolving “in one stroke of a pen” the jitters plaguing the municipal debt market. But his plan is also a bid to gain one-third of the debt-insurance market, and one insurer has already rejected him, Bloomberg reports. More »
  
  Tags
  
  credit market • Warren Buffett • Berkshire Hathaway • MBIA • Ambac Financial • municipal bonds • Triple-A credit rating
December 2007
- Mortgage Crisis Rivals S&L, Tech Busts
  
  Wall Street Journal | Dec 10, 07 1:13 PM CST
  
  (Newser) - How does the current mortgage debacle measure up to the savings-and-loan meltdown of the 1980s and the tech crash of 2000? Losses look manageable, the Wall Street Journal reports in a detailed analysis of how this crisis differs from other crashes, and how likely it is to spin the economy into a recession. But it could be exacerbated and prolonged by complex differences. More »
  
  Tags
  
  subprime mortgages • credit crisis • credit market • mortgage backed securities
November 2007
- Municipalities Feel Credit Market Pain
  
  Washington Post | Nov 29, 07 12:58 PM CST
  
  (Newser) - Cities, towns, and schools are learning what would-be homeowners already know: the credit market stinks. Municipalities have grown addicted to financing projects with extremely low-interest bonds, but such cheap credit is hard to come by as bond insurers swing in the subprime wind, the Washington Post reports. Local governments either have to scrap projects, or pass fat interest costs to taxpayers. More »
  
  Tags
  
  subprime mortgages • credit crisis • credit market • municipal bonds • bonds
- Goldman Sits High and Dry in Credit Crunch
  
  New York Times | Nov 19, 07 4:48 PM CST
  
  (Newser) - When Goldman Sachs reported $2.85 billion in third-quarter profits, it sounded like an “I told you so.” As most financials reported credit-crunch pratfalls, Goldman alone had read the signs and gone the right way on mortgages. “You’d have to give them an A-plus,” said one Merril Lynch analyst. Many wish they didn’t have to, the New York Times says. More »
  
  Tags
  
  subprime mortgages • Goldman Sachs • credit market • investment bank
October 2007
- Existing-Home Sales Plummet Past Predictions
  
  Wall Street Journal | Oct 24, 07 11:53 AM CDT
  
  (Newser) - The housing market absorbed more bad news today. Existing-home sales dropped 8% in September, hitting their lowest level since at least 1999, as tighter credit standards kept buyers away. The 5.04 million annual rate was far below projections, bolstering predictions of another rate cut by the Fed next week. “The credit freeze in August definitely impacted sales in September,” one economist told the Wall Street Journal . More »
  
  Tags
  
  subprime mortgages • housing market • credit market • home prices • home resales
- Housing Still a Drag: Fed Chief
  
  Bloomberg | Oct 16, 07 5:38 AM CDT
  
  (Newser) - The real estate slump will continue to be a "significant drag" on US economic growth well into next year, said Federal Reserve Chairman Ben Bernanke in his first speech on the economy since August. Recovery from the credit crisis will take time, and setbacks are likely, Bernanke told the Economic Club of New York, Bloomberg reports. More »
  
  Tags
  
  subprime mortgages • Federal Reserve • recession • housing crisis • interest rate • credit market • Federal Open Market Committee • commercial paper
- Economy Slows, Stocks Surge: What Gives?
  
  Washington Post | Oct 6, 07 6:54 PM CDT
  
  (Newser) - Stocks are surging while classic indicators are signaling slump — so what gives? The answer, reports the Washington Post , lies in a bright jobs report and spiking Standard & Poor's 500-stock index. Backers are dissing the bad news as fast as they can finance, says the Post : "Call them the Teflon investors." More »
  
  Tags
  
  stock market • Federal Reserve • S&P 500 • Nasdaq • Dow Jones • Dow Jones Industrial Average • Wall Street • interest rate • credit market • investors • mortgage backed securities
- Swiss Bank Giant Posts Huge Losses Amid Credit Crisis
  
  Wall Street Journal | Oct 1, 07 3:48 AM CDT
  
  (Newser) - Switzerland's largest bank, UBS, has become the biggest casualty of the worldwide turmoil in the financial markets, reports the Wall Street Journal . The bank is expected to announced today that it has written off $3.4 billion in fixed income assets. UBS is projecting third quarter losses of at least $516 million. More »
  
  Tags
  
  subprime mortgages • hedge fund • Goldman Sachs • credit market • UBS • third quarter results • fixed assets
September 2007
- $25B Sallie Mae Buyout on the Rocks
  
  Wall Street Journal | Sep 27, 07 9:52 AM CDT
  
  (Newser) - Sallie Mae doesn’t look like such a bargain at $25 billion anymore, and J.C. Flowers & Co. is trying to renegotiate—or escape—its deal to acquire the student lender, citing the credit market implosion and legislation to reform student loan practices. It’s the kind of deal once considered unbreakable, the Wall Street Journal says, but private equity is in disarray. More »
  
  Tags
  
  private equity • credit market • student loans • private equity firms • Sallie Mae • JC Flowers and Co
- British Bank Rebounds as Panic Wears Off
  
  Daily Telegraph (UK) | Sep 18, 07 12:38 PM CDT
  
  (Newser) - As the lines of people waiting to make withdrawals from Northern Rock bank dwindled today, the British lender’s stock rose, bringing with it other hard-hit British financials. Northern Rock's huge losses in the mortgage market sparked a sell-off, drawing emergency funds from the Bank of England. But the government's move yesterday to guarantee savings and provide emergency credit to any buyer halted the fire sale. More »
  
  Tags
  
  Great Britain • subprime mortgages • credit crisis • stocks • credit market • Northern Rock • Bank of England
- Jobless Claims Rise, but Economists See Silver Lining
  
  Bloomberg | Sep 13, 07 1:45 PM CDT
  
  (Newser) - First-time applications for jobless claims rose last week, but economists are encouraged that the figures were less than expected, Bloomberg reports today. Claims grew by 4,000 to 319,000—still well short of the 325,000 applications expected. The numbers suggest that the labor market isn’t collapsing, despite slower growth and a spate of industry troubles. More »
  
  Tags
  
  US economy • housing crisis • unemployment • credit market • consumer spending • job • Labor Department • jobless claims
- Banks Pouring Money Into Russian Loans
  
  Bloomberg | Sep 12, 07 6:37 AM CDT
  
  (Newser) - Banks around the world are clamoring to loan money to Russia, just nine years after the country paralyzed the economic world by defaulting on $40 billion in debt. These days, Russia looks like a haven from the US mortgage meltdown. Russian corporations borrowed $29 billion over the last three months, Bloomberg reports, up 40% from last year. More »
  
  Tags
  
  Russia • US economy • money • credit market • corporate credit
- Trade Gap Dips to Lowest Level in 3 Years
  
  Bloomberg | Sep 11, 07 9:25 AM CDT
  
  (Newser) - The US trade gap—the difference in total value between imports and exports—dropped to a 3-year low in July as exports jumped on a weak dollar and growing overseas demand. The figure fell 0.3% to $59.2 billion, roughly on par with the estimate economists surveyed by Bloomberg foresaw. Said one analyst, “the broad outlook for trade looks quite positive.” More »
  
  Tags
  
  China • United States • housing market • US dollar • credit market • trade • exports • imports • trade deficit • international trade
- KKR Prepares for Test of Credit Markets
  
  Washington Post | Sep 11, 07 8:17 AM CDT
  
  (Newser) - Kolhberg Kravis Roberts is pushing forward with some of the biggest deals in US history, but the iconic buyout firm finds itself under unprecedented scrutiny. Analysts say the huge deals KKR has pending will be a test of the struggling credit markets, the Washington Post reports: If they don't go through, the age of private equity may be over. More »
  
  Tags
  
  private equity • hedge fund • credit market • KKR • Henry Kravis • First Data
- Tightening Credit Markets Squeeze Banks
  
  Bloomberg | Sep 10, 07 10:58 AM CDT
  
  (Newser) - Almost $140 billion in commercial paper has matured and is up for renewal by next week, and banks need to attract buyers to pay it off. The yield on the short-term loans, which are entangled in the subprime mortgage crisis, is skyrocketing. "This could be a pivotal seven to 10 days,'' one credit strategist tells Bloomberg. More »
  
  Tags
  
  subprime mortgages • business • mortgage crisis • finance • credit market • loans
- US Lost Jobs for First Time in 4 Years
  
  Bloomberg | Sep 7, 07 8:45 AM CDT
  
  (Newser) - In the first drop since 2003, the US lost 4,000 jobs in August, surprising experts and putting more pressure on the Fed to reduce rates at its upcoming meeting. Economists had predicted an increase of 100,000 or more jobs. The decline in employment is the clearest signal to date that the housing recession and credit crunch are hurting the broader economy, Bloomberg reports. More »
  
  Tags
  
  Federal Reserve • recession • United States • unemployment • credit market • interest rate cut • manufacturing • job • employment • payrolls
- Credit Crunch Doesn't Dampen Retail Numbers
  
  MarketWatch | Sep 6, 07 3:09 PM CDT
  
  (Newser) - Better-than-expected retail sales figures for August, which built on healthy back-to-school and luxury shopping, raised hopes today that turbulent markets won't take too big of a bite out of holiday-season sales. Wal-Mart and Target made out well, as did luxury emporiums such as Saks. "It bodes well for Christmas," one analyst tells MarketWatch. More »
  
  Tags
  
  credit crisis • retail sales • credit market • retail • luxury • back to school
- Fed Could Take Credit Crunch Fix to the Bank
  
  Los Angeles Times | Sep 3, 07 4:00 PM CDT
  
  (Newser) - If you have CDs or a savings account, you may be contributing, soon enough, to the solution to the credit market upheaval, the LA Times reports. Some investors expect the Federal Reserve to cut short-term interest rates next month, a move that could inspire banks to raise money elsewhere by dropping deposit rates for the first time in more than 3 years. More »
  
  Tags
  
  Federal Reserve • interest rate • credit market • federal fund rates • savings account
August 2007
- Bernanke Vows to Combat Mortgage Mess
  
  Bloomberg | Aug 31, 07 1:07 PM CDT
  
  (Newser) - In his first comments on the subprime mortgage meltdown, Ben Bernanke today vowed the Federal Reserve “will act as needed” to contain the turmoil, preventing it from weakening the broader economy. The Fed chief pledged the central bank would “take additional actions” if necessary. “It is clear now the Fed is on the ball,” an economist said. More »
  
  Tags
  
  George W. Bush • US economy • subprime mortgages • Federal Reserve • Ben Bernanke • interest rate • credit market • Federal Housing Administration • federal fund rates
- Stocks Shake Before Fed Speech
  
  Wall Street Journal | Aug 30, 07 4:31 PM CDT
  
  (Newser) - Technology shares are still on the rebound, but the credit market continues to shake other stocks as traders await Ben Bernanke's speech on Friday. The tech-heavy NASDAQ gained 2.14 today, to close at 2565.30. But the Dow slipped 50.56 to 13238.73, and the S&P 500 fell 6.12 to 1457.64. More »
  
  Tags
  
  Federal Reserve • S&P 500 • credit crisis • Ben Bernanke • interest rate • credit market • NASDAQ • Dow

Stories 21 - 40 of 49

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