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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: credit market

credit market stories: 106 news summaries

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Goldman Sits High and Dry in Credit Crunch

Wall Street envies
lone investment firm
that got it right

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... More »

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Goldman Sachs • subprime mortgages • credit market • investment banks

(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.... More »

MORE ABOUT:
housing market • subprime mortgages • credit market • home prices • home resales

Housing Still a Drag: Fed Chief

Setbacks likely, says Bernanke, who offers no hints on interest rate status

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... More »

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Federal Reserve • subprime mortgages • recession • credit market • interest rate • Federal Open Market Committee • Economic Club of New York • commercial paper • housing crisis

Economy Slows, Stocks Surge: What Gives?

'Teflon investors'
are relying on
the good news

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... More »

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stock market • Wall Street • investors • Federal Reserve • Dow Jones • Nasdaq • credit market • interest rate • mortgage backed securities • S&P 500

Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

Biggest loser so far in subprime mess

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... More »

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Goldman Sachs • subprime mortgages • UBS • hedge fund • credit market • third quarter earnings • fixed assets • Peter Wuffli • Huw Jenkins

$25B Sallie Mae Buyout
on the Rocks

Credit market implosion leaves buyer looking for the door

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... More »

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private equity • Sallie Mae • student loans • credit market • private equity firms • JC Flowers and Co • student loan reform

British Bank Rebounds as Panic Wears Off

Financial stocks see gains on Northern
Rock guarantees

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... More »

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subprime mortgages • stocks • credit market • credit crisis • Britain • Northern Rock • Bank of England

Jobless Claims Rise, but Economists See Silver Lining

Figures lower than expected as labor market deals with volatility

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... More »

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unemployment • consumer spending • US economy • credit market • Department of Labor • jobless claims • housing crisis • job

Banks Pouring Money Into Russian Loans

Forget default: country now looks like haven from credit turmoil

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,... More »

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Russia • money • US economy • corporate credit • credit market

Trade Gap Dips to Lowest Level in 3 Years

Weak dollar, stronger world economies fuel rise in US exports

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... More »

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China • international trade • housing market • United States • imports • trade • exports • trade deficit • credit market • trade gap • US dollar

KKR Prepares for Test of Credit Markets

Fate of pending deals may foretell future
of private equity

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... More »

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private equity • KKR • First Data • Henry Kravis • hedge fund • credit market

Tightening Credit Markets Squeeze Banks

$140B in commercial paper is coming due, and forecast is fuzzy

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... More »

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subprime mortgages • business • loans • finance • credit market • subprime crisis

US Lost Jobs
for First Time
in 4 Years

August payroll drop shows subprime crisis affecting economy

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... More »

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Federal Reserve • United States • employment • recession • unemployment • manufacturing • credit market • payrolls • interest rate cut • job

Credit Crunch Doesn't Dampen Retail Numbers

Luxury, back-to-school shoppers drive August figures up

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,... More »

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retail • credit market • credit crisis • back to school • luxury • retail sales

Fed Could Take Credit Crunch Fix to the Bank

Interest rates may drop, but deposit rates could go with them

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... More »

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Federal Reserve • credit market • interest rate • federal fund rates • savings account • certificates of deposit

Bernanke Vows to Combat Mortgage Mess

Fed ready to step in; Wall Street holds out hope for rate cuts

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... More »

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Ben Bernanke • Federal Reserve • subprime mortgages • US economy • Federal Housing Administration • credit market • interest rate • federal fund rates • George W. Bush

Stocks Shake Before Fed Speech

Wall Street awaits Bernanke's priorities in Friday address

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... More »

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Ben Bernanke • NASDAQ • Federal Reserve • credit market • interest rate • credit crisis • Dow • S&P 500

Home Prices Show Record Drop

Consumer confidence off too; the credit market is to blame, again

Aug 28, 07 11:21 AM CDT
(Newser) - The credit market is continuing to weigh on economic indicators, Bloomberg reports, as home prices and consumer confidence both notched records in their downward swoon. A report released today showed home values down an unprecedented 3.2% in the second quarter. Consumer confidence this month fell to its lowest levels... More »

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home sales • consumer confidence • US economy • credit market • Department of Commerce • mortgage loans

New-Home Sales Grow, Spur Wall St.

But new figures don't fully reflect credit market's impact, analysts say

Aug 24, 07 11:21 AM CDT
(Newser) - New-home sales grew 2.8% last month, delivering an unexpected bit of good news to investors still reeling from the credit crunch. But the housing market, which had been rebounding in recent months from a slump, will likely show renewed weakness after he mortgage crisis dust settles, Bloomberg reports. More »

MORE ABOUT:
Ben Bernanke • Wall Street • real estate • Federal Reserve • home sales • credit market • interest rate • Countrywide • Toll Brothers • Department of Commerce • housing crisis

Credit Jitters
May Put KKR
Offering on Ice

Private equity firm denies reports its
IPO will be delayed

Aug 23, 07 7:45 AM CDT
(Newser) - The Times of London claims that buyout firm KKR has postponed plans for a $1.25B float and a public listing because of the fallout from turbulent credit markets. The company had planned its IPO this September but has reportedly pulled back due to waning investor confidence following the subprime... More »

MORE ABOUT:
private equity • Carlyle Group • subprime mortgages • Kohlberg Kravis Roberts • KKR • IPO • credit market

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