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October 8, 2008 5:47:46 AM CDT

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Stories related to: credit

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13 Stories

  • September 2008

    • Can Their $700B Rescue Plan Do the Trick?

      New York Times  |  Sep 21, 08 1:49 PM CDT

      Can Their $700B Rescue Plan Do the Trick?

      (Newser) - Forget white and blue: Uncle Sam is all red these days after swallowing hundreds of billions in bad mortgages and coughing up billions more to save strapped businesses. As the Feds strategize a solution to the mess, experts are unsure if the plan will work and how much it’ll cost taxpayers, Peter Goodman notes in the New York Times , though there "is wide agreement that a broad intervention is necessary." More »

  • July 2008

    • Fed Extends Emergency Loan Program for Wall Street

      Associated Press  |  Jul 30, 08 11:09 AM CDT

      Fed Extends Emergency Loan Program for Wall Street

      (AP) - The Federal Reserve today extended its emergency borrowing program for Wall Street firms through Jan. 30. Originally the program, through which investment houses can tap the central bank for a quick source of cash, was supposed to last until mid-September. Another program, where banks can temporarily swap more risky investments for Treasury securities, also will continue through Jan. 30. More »

      Tags

      Federal Reserve  • credit crisis  • liquidity  • credit  • Treasury

    • Squeezed Banks Slash Biz Loans

      New York Times  |  Jul 28, 08 5:09 AM CDT

      Squeezed Banks Slash Biz Loans

      (Newser) - Reeling from real-estate losses, banks are turning off the credit spigot to loan-seeking businesses, the New York Times reports. The loan reduction means more bad news down the line as money-starved companies begin to cut workers. Banks cut credit nearly 3% over the past year, the most since 2001, according to the Federal Reserve. The shrinking availability has hit companies especially hard as customers facing their own financial struggles horde their pennies. More »

      Tags

      economy  • bank  • banking industry  • credit  • loan

    • Merrill Posts $4.65B Loss in Dismal 2nd Quarter

      Bloomberg  |  Jul 18, 08 5:29 AM CDT

      Merrill Posts $4.65B Loss in Dismal 2nd Quarter

      (Newser) - Merrill Lynch posted a second-quarter loss of $4.65 billion late yesterday, more than twice the second-quarter loss analysts had expected and one of the worst in the brokerage's history. The firm took a hit of $9.7 billion in credit-market writedowns, reports Bloomberg, on top of some $30 billion in the previous three quarters. Moody's  cut Merrill's credit rating on the loss, which exceeded the $1.96-billion loss in the first quarter. More »

      Tags

      credit crisis  • Merrill Lynch  • writedowns  • credit

  • May 2008

    • SUV Credit Crunch Rolls Over Ford

      Wall Street Journal  |  May 30, 08 10:18 AM CDT

      SUV Credit Crunch Rolls Over Ford

      (Newser) - Ford's plans to get back in the black are being forced off the road by woes at its lending arm, the Wall Street Journal reports. The auto giant made a lot of cut-rate loans on trucks and SUVs in recent  years and has been unable to recoup losses on bad loans through repossessions because of the plummeting resale value of bigger vehicles. More »

      Tags

      Ford  • SUV  • trucks  • credit  • used cars  • repossessions

    • Airlines Forced to Front Cash for Fuel

      Times (UK)  |  May 26, 08 9:32 AM CDT

      Airlines Forced to Front Cash for Fuel

      (Newser) - Cash-strapped airlines are now being pressured to pay millions of dollars in advance for aviation fuel, reports the Times of London. Mandatory prepayment for fuel has become common in the US and is now moving to Europe as crude oil prices continue to rise and the solvency of the industry is uncertain. Jet fuel costs have soared 60% since January. More »

      Tags

      crude oil  • American Airlines  • oil companies  • credit  • airlines  • jet fuel

  • April 2008
  • December 2007

    • Americans Drive Cycle of Auto Debt

      Los Angeles Times  |  Dec 31, 07 9:25 AM CST

      Americans Drive Cycle of Auto Debt

      (Newser) - More and more Americans are entering a cycle of larger, longer, and far riskier auto loans, raising the possibility of a debt crisis similar to the one that has hit the housing market. The Los Angeles Times explores the increasing trend of trading in a used car for a new one—and rolling together old debt and new. More »

      Tags

      credit crisis  • Detroit  • debt  • credit  • auto loans

    • Auto-Loan Delinquencies Rise as Stress Spreads

      Wall Street Journal  |  Dec 6, 07 6:36 AM CST

      Auto-Loan Delinquencies Rise as Stress Spreads

      (Newser) - Consumer auto loans are beginning to show the strain of the subprime collapse, with delinquencies among top-rated borrowers from 2006 rising 55%, to 4.5%, in September. That's the largest month-to-month increase in delinquencies in nearly a decade, the Wall Street Journal reports. Delinquencies among less credit-worthy consumers rose to 12%, the highest level since 2002. Said one analyst, “the numbers will get worse.” More »

      Tags

      auto industry  • borrowers  • credit  • auto loans

  • November 2007
  • October 2007

    • Wall Street Watching Fed's High Wire Act

      Associated Press  |  Oct 28, 07 6:32 PM CDT

      Wall Street Watching Fed's High Wire Act

      (Newser) - All eyes are on the Fed this week, with Wall Street expecting a quarter-point rate cut when the group meets Tuesday and Wednesday. But the decision is an usually tough one, the AP reports, with the tight rope between controlling inflation and keeping markets fluid more precarious than it has been for a while. Most investors think the Fed is more concerned about the credit crunch, but how long it will feel that way is unclear. More »

      Tags

      Dow Jones  • Federal Reserve  • subprime mortgages  • Ben Bernanke  • inflation  • stocks  • markets  • credit

  • September 2007

    • Contrite Jobs Offers $100 iPhone Credit

      Associated Press  |  Sep 7, 07 6:06 AM CDT

      Contrite Jobs Offers $100 iPhone Credit

      (Newser) - It didn’t take Apple CEO Steve Jobs long to reverse his dismissal of complaints about the new iPhone discount from the first consumers to buy the gadget. He apologized and  instituted a $100 credit for those who don't fall under the 14-day refund period. Jobs had told early buyers “that’s life in the technology lane"— but backpedaled after hundreds of angry emails. More »

      Tags

      Apple  • iPhone  • Steve Jobs  • consumer  • credit

  • August 2007

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