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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: credit market

credit market stories: 106 news summaries

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MARKET open

 Stocks Dive on Poor Profits 

But as ever, trust this move as far as you can throw it

Oct 21, 08 8:51 AM CDT
(Newser) - Downbeat earnings put the kibosh on yesterday’s outbreak of optimism on Wall Street, sending stocks down at the open. The Dow dropped 107 points, while the Nasdaq and S&P fell 1.7% and 1.4% respectively, the Wall Street Journal reports. Dow components DuPont, Caterpillar, and Pfizer... More »

MORE ABOUT:
stock market • Dow Jones • corporate earnings • DuPont • credit market • earnings forecast

MARKETS

 Markets Rise as Credit Eases 

Volatility probably ahead; oil prices up, too

Oct 20, 08 8:46 AM CDT
(Newser) - Stocks rose at the open today, as investors saw signs the credit markets are easing, the Wall Street Journal reports. The Dow rose 104 points, while the Nasdaq and S&P saw modest 1.5% and 1.2% bumps, respectively. Stocks in Europe and Asia generally rose as well. We... More »

MORE ABOUT:
stock market • Dow Jones • markets • AIG • credit market • oil prices • Libor • financial crisis • NRG • Exelon

 AmEx Sees Red as 
 Cardholders Struggle 

Credit card company is seeing more cards fall delinquent as economy worsens

Oct 20, 08 7:58 AM CDT
(Newser) - American Express—expected today to report earnings skidded more than 30% from the third quarter a year ago—isn't quite the industry gem it once was, reports the Wall Street Journal. The company, long a top performer who catered to affluent customers, has seen a surge in delinquencies as the... More »

MORE ABOUT:
American Express • credit card • credit market • financial crisis • Kenneth Chenault

Economy May Cripple Chicago Spire Project

Consultants file liens against world's tallest skyscraper

Oct 19, 08 2:06 PM CDT
(Newser) - The sputtering economy could topple plans to erect the nation’s tallest skyscraper, reports the Chicago Tribune. Consultants on the construction of the Chicago Spire have filed liens, with celebrity architect Santiago Calatrava seeking more than $11.3 million and a Chicago-based firm demanding $4.85 million. The developer’s... More »

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Chicago • construction • Santiago Calatrava • skyscraper • Chicago Spire • credit market



 Hungary Gets $6.7B Loan 
 to Avert Meltdown 

Budapest secures huge loan to prevent default à la Iceland

Oct 17, 08 8:33 AM CDT
(Newser) - The Hungarian government secured a $6.7-billion loan yesterday from the European Central Bank in an attempt to stave off an Icelandic-style national meltdown. The EU newcomer's troubles derive from loans denominated in euros or Swiss francs, rather than the softer Hungarian forint. Frozen credit markets have left Hungary's government... More »

MORE ABOUT:
Eastern Europe • IMF • Hungary • credit market • default • mortgage defaults • financial crisis • Hungarian forint

MARKETS

 Dow Up 401 After Seesaw Day 

Investors see signs of gradually easing credit—and bargains, driving up market late

Oct 16, 08 3:23 PM CDT
(Newser) - Stocks rallied late in today’s volatile session, but stopped short of recovering yesterday’s sharp losses, rollercoastering through an 800-point range, MarketWatch reports. Crude oil futures fell $4.69, to about half of their record high in July, on a report that showed US inventories increasing. The Dow rose... More »

MORE ABOUT:
Dow Jones • core inflation • Nasdaq • credit market • credit crisis • S&P 500 • oil prices • Libor • financial crisis

Analysis

 Panic Has Passed, 
 but We Haven't Hit Bottom 

Get ready for a long recession

Oct 15, 08 11:00 AM CDT
(Newser) - The most panicky phase of the global financial crisis is likely over, thanks to the combined efforts of the world’s governments, writes Steven Pearlstein in the Washington Post. But don’t “confuse this moment of calm with a stock market bottom or a sign that a serious... More »

MORE ABOUT:
stock market • recession • credit market • market bubble • housing bubble • financial crisis • Steven Pearlstein

ANALYSIS

 How Brown 
 Became a 
 Superhero 

Glum British PM now seems more 'Flash Gordon'

Oct 15, 08 8:25 AM CDT
(Newser) - Unpopular at home and nearly invisible on the world stage, Gordon Brown endured a tough ride during his first year in power. But the global financial crisis has transformed the British prime minister, who now finds himself in the unlikely position of international superstar. As Europe, Australia, Hong Kong, and... More »

MORE ABOUT:
United Kingdom • Gordon Brown • credit market • Britain • Paul Krugman • financial crisis • recapitalization

OPINION

US Must Save Global Economy —This Weekend

US must join UK's plan or face disaster: Krugman

Oct 10, 08 7:30 AM CDT
(Newser) - Since the collapse of Lehman Brothers the financial crisis has gone from severe to terrifying, but the response of the United States and Europe has been "woefully inadequate," writes New York Times columnist Paul Krugman. We are now at a tipping point, and if world policymakers don't... More »

MORE ABOUT:
Gordon Brown • Henry Paulson • Lehman Brothers • credit market • credit crisis • bailout • rescue package • financial crisis • capital injection

updated

 Stocks Rocky After Rate Cuts 

Investors cheer/jeer/cheer the rate cut

Oct 8, 08 9:25 AM CDT
(Newser) - Stocks had a volatile morning, dropping as much as 230 points after the bell before swinging upwards once more, the Wall Street Journal reports. The Dow was up about 39 points at midmorning, while the Nasdaq and S&P gained 0.7% and 0.8% respectively, as investors digested... More »

MORE ABOUT:
stock market • Federal Reserve • central bank • credit market • interest rate cut

Analysis

All Economy's Bubbles
Have Burst at Once

Dominoes tumble from real estate to credit to commodities

Oct 7, 08 4:07 PM CDT
(Newser) - The real reason the global economy is tanking is because a huge set of financial bubbles are all bursting at once, explains Steven Pearlstein in the Washington Post. The US real-estate bubble started the party, leading to a burst in the credit bubble, the corporate takeover bubble, and... More »

MORE ABOUT:
global economy • credit market • market bubble • housing bubble • economy • oil bubble • financial crisis

Europeans Seek Unified Credit Crisis Strategy

As individual states act, leaders scramble for coordinated measures

Oct 7, 08 9:19 AM CDT
(Newser) - Finance ministers are meeting today to hash out a plan to steady Europe’s banking system, but resolution continued to be elusive, the New York Times reports. They raised the minimum level for deposit guarantees to €50,000, though some pushed for higher limits; the EU has not developed... More »

MORE ABOUT:
European Union • credit market • European Central Bank • credit crisis • bailout • banks • financial crisis

Fed Will Buy Up Short-Term Debt to Boost Credit

New plan to ease credit pushes the central bank toward a commercial bank role

Oct 7, 08 8:35 AM CDT
(Newser) - The Federal Reserve today launched a new plan to buy up companies’ unsecured short-term debt in yet another effort to unfreeze the credit markets, the New York Times reports. Underscoring a sense of urgency on Wall Street as the crisis spread across Europe and Asia yesterday, the radical plan would... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • credit market • credit crisis • commercial paper • bailout

OPINION

The Markets
Have Evened Out When ...

Analyst gives four
signs of sanity to scan your tea leaves for

Oct 6, 08 9:14 AM CDT
(Newser) - The main thing ailing the credit markets is a crisis of information, writes L. Gordon Crovitz in the Wall Street Journal, so it’ll probably end when we have some. Things may be looking up when…
  • Prices are discovered: Right now, there’s no demand for mortgage-backed
... More »

MORE ABOUT:
subprime mortgages • financial markets • market • credit market • short selling • subprime crisis

California, Out of Cash,
Begs for $7B From Treasury

Cash-starved Calif,  credit markets, may need bailout of its own

Oct 3, 08 8:28 AM CDT
(Newser) - California is almost out of cash, Gov. Arnold Schwarzenegger warned the Treasury Department yesterday, and may need an emergency loan of up to $7 billion from the federal government, the Los Angeles Times reports. California is the largest of several states locked out of the bond market by the credit... More »

MORE ABOUT:
California • Arnold Schwarzenegger • Henry Paulson • Treasury Department • credit market • credit crisis • bond market • bailout • financial crisis

Analysis

Depression, No—but That Lesson Is Vital

As credit outlook deteriorates, most important word is 'trust'

Oct 1, 08 4:20 PM CDT
(Newser) - Constant references to the Great Depression aren’t alarmist, but the analogy isn't perfect, either, writes David Leonhardt in the New York Times. "The basic mechanics of how the economy might fall into a severe recession look quite similar to those that caused the Depression," he... More »

MORE ABOUT:
credit market • financial sector • subprime crisis • bank failure • economy • Great Depression • financial crisis

OPINION

GOP Is Brilliant at Blaming the Victim: Frank

Conservatives can't admit deregulation has failed, says Frank

Oct 1, 08 1:22 PM CDT
(Newser) - Even in a financial crisis obviously precipitated by an orgy of deregulation, writes Wall Street Journal columnist Thomas Frank, the right has done a spectacular job deflecting blame. Looking to point the finger at something other than "unbridled pecuniary motives," conservatives have targeted Democrat-friendly Fannie Mae and Freddie... More »

MORE ABOUT:
subprime mortgages • credit market • mortgage backed securities • conservatives • deregulation

MARKET

 Stocks Open Down on Bailout Impatience

Volatile session could be forthcoming

Oct 1, 08 8:55 AM CDT
(Newser) - Stocks started off on the wrong foot this morning as investors awaited smoke signals from Congress. The Dow dropped 122 points, while the S&P and Nasdaq fell 1.3% and 0.9%, respectively. The session is likely to be a volatile one, with the Senate’s expected bailout vote... More »

MORE ABOUT:
stock market • Dow Jones • stocks • markets • credit market • bailout • financial crisis

OPINION

Views on the Meltdown
From Across the Pond

How Europe, but mostly England sees the crisis

Sep 30, 08 12:54 PM CDT
(Newser) - The banking crisis isn’t limited to the US—it’s a cross-continental phenomenon. Here’s what the British press saying about the mood:
  • France and Germany are livid, reports Charles Wyplosz of the Financial Times. There, individualism isn’t seen as a virtue, and free markets
... More »

MORE ABOUT:
Germany • France • England • global economy • credit market • Globalization

OPINION

'Nihilist' House GOP Doomed US to Recession

American leadership
is 'scarcer than credit,' writes Brooks

Sep 30, 08 12:00 PM CDT
(Newser) - When FDR became president, writes David Brooks, his first priority was to give Americans faith in their leadership, to show that someone was running the show. Now that the US is facing the greatest financial crisis since the Depression, today's political leaders "have failed utterly and catastrophically to project... More »

MORE ABOUT:
Republican Party • credit market • leadership • House Republicans • bailout • bank failure • Great Depression • financial crisis

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