Skip to: Content
Skip to: Site Navigation
Skip to: Search
FRIDAY, NOVEMBER 20, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: credit crisis

credit crisis stories: 353 news summaries

1 - 20 of 353 Stories | 1 2 3 4 5 ... 18 Next >>

Switch to grid view »

TIPS FOR THE MANSIONLESS


 What Broke 
 Celebs Can 
 Teach Us 

Don't make the same mistakes as Nicolas Cage and Annie Leibovitz

Nov 6, 09 9:38 AM CST
(Newser) - Celebrities really are just like us: During these financially stressful times, they’re suffering, too. On Huffington Post, Manisha Thakor points out the takeaway from four high-profile meltdowns.
  • NBA Player Antoine Walker: Squandered away his $110 million fortune by age 33. The lesson? If you have a variable
... More »

MORE ABOUT:
entertainment • debt • celebrity • recession • Antoine Walker • credit crisis • Annie Leibovitz • Nicolas Cage • Nicolas Cage broke

PAUL KRUGMAN

 In Switch, 
 'Real Economy' 
 Hits Big Banks 

Slumping profits are 'payback' from Main Street whipped by bad practices

Oct 19, 09 9:49 AM CDT
(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are... More »

MORE ABOUT:
Bank of America • Goldman Sachs • recession • Citibank • credit crisis • Paul Krugman • lending practices • Larry Summers • Obama administration • financial crisis • economic downturn

 Foreclosures on Pricey 
 Properties Pick Up 

Well-to-do buyers weren't immune to wacky loans, and they're coming due

Oct 12, 09 9:19 AM CDT
(Newser) - The country's most expensive homes are now making up a larger segment of foreclosures in the most recent spike of mortgage defaults. An analysis of recent data shows that 30% of June foreclosures involved homes valued in the top third based on location; that’s up from just 16% at... More »

MORE ABOUT:
housing market • foreclosure • credit crisis • homeownership • mortgage defaults • home mortgage • exotic loans • expensive

analysis

 Banks Yanking 
 Homeowners' 
 Last Hope: 
 Short Sales 

Healthier lenders no longer anxious to cut deals

Oct 3, 09 2:30 PM CDT
(Newser) - As banks get healthier, they're getting stingier with one of the few remaining lifelines for underwater homeowners—short sales. To keep home sales moving in leaner times—and to get bad loans off their ledgers—lenders would forgive the difference between the outstanding mortgage balance and the purchase price. Such... More »

MORE ABOUT:
mortgage • credit crisis • homeowners • housing crisis • banking industry • short sales

 CityCenter: Las Vegas' 
 $8.5B Stimulus Bet 

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

Sep 23, 09 6:54 PM CDT
(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of... More »

MORE ABOUT:
Las Vegas • debt • recession • casino • CityCenter • hotel • credit crisis • condominium • Las Vegas Strip • financial crisis

(Newser) - Many credit card users are getting to the register only to discover that their cards have been canceled—without a word of warning, the Wall Street Journal reports. With credit tightening, many issuers give only a cursory rationale for the drops, and then only by mail weeks later. And... More »

MORE ABOUT:
credit card • credit market • credit crisis • customer service

(Newser) - Would-be homeowners with good credit are finding themselves shut out of the mortgage market by stiff restrictions from wary lenders, the New York Times reports. Many believe that in an effort to move away from the laxness blamed for the financial crisis, lenders have gone too far the other way... More »

MORE ABOUT:
housing market • mortgage • credit crisis • mortgage loans • mortgage lender

(Newser) - Small and midsize banks across America could face $100 billion in losses from commercial real-estate loans next year, shrinking their capital in most cases to scary lows. The Wall Street Journal conducted worst-case-scenario stress tests on 900 banks and found crises looming far beyond Wall Street. Small and midsize banks... More »

MORE ABOUT:
credit crisis • commercial real estate • banks • stress tests

Bernanke: Risks Remain Despite Stress Tests

But Fed chief is encouraged by
bank response

May 12, 09 2:31 AM CDT
(Newser) - Big banks' response to "stress tests" has been encouraging but they will need to watch out for risks not covered by the tests, Ben Bernanke warned regulators yesterday. The Fed chief—signaling that investment giants like Goldman Sachs can expect tighter scrutiny—said banks should self-test for potentially disastrous... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • bank • credit crisis • banking industry • financial crisis • TARP • stress tests

 Fed to Release 
 Stress Test Results Next Week 

Data will show potential losses in specific loan categories

May 1, 09 1:44 PM CDT
(Newser) - The US will learn the fiscal health of its 19 biggest banks Thursday, when the Federal Reserve and Treasury release the results of the “stress tests,” the Wall Street Journal reports. Delayed somewhat, the results will contain potential loss estimates in specific loan categories for each bank, and... More »

MORE ABOUT:
Federal Reserve • capital • Treasury Department • credit crisis • loan • banks • stress tests

Obama Pledges
Credit Card Reform

Obama backs House bill limiting 'deceptive' practices

Apr 23, 09 2:44 PM CDT
(Newser) - President Obama told senior executives of credit-card firms today that he supports congressional efforts to rein in some of their business practices, the Washington Post reports. Both the House and Senate are working on bills to codify new regulations by the Fed that restrict lenders’ ability to arbitrarily raise interest... More »

MORE ABOUT:
Barack Obama • credit card • credit • credit crisis • lending practices • Obama administration • President Obama

ANALYSIS

Bank Lending Still Down 23%
4 Months
After Bailout

Journal says Treasury's tally hides damage

Apr 20, 09 8:28 AM CDT
(Newser) - Banks that received taxpayer aid to restart lending are loaning less than they did before the bailout, a Wall Street Journal analysis finds. The most recent figures available, from February, show a 23% drop in new loans from the lending level in October, when the Treasury Department kicked off TARP,... More »

MORE ABOUT:
loans • bank • Treasury Department • credit crisis • statistics • lending practices • bailout • financial crisis • TARP

ANALYSIS

 Downturn Lays Bare 
 Dubai's Dark Side 

Boomtown's shaky foundations becoming apparent as hard times hit

Apr 9, 09 9:09 AM CDT
(Newser) - Dubai's "Disneyland for grownups" is becoming a more sinister ride as the emirate's boom times end. Countless grand building projects lie half-finished in the sand while indentured building workers from abroad unable to leave languish in work camps, Johann Hari writes in the Independent. He sees Dubai as... More »

MORE ABOUT:
Dubai • United Arab Emirates • credit crisis • financial crisis

(Newser) - Workers pulled down an AIG sign in New York City today as the insurer sought to rebrand itself and deflect outrage over executive bonuses, Reuters reports. The company's Manhattan property-casualty office, renamed AIU Holdings Ltd, wasn't the first to change its name since the bailout started last fall. AIG's US ... More »

MORE ABOUT:
AIG • credit crisis • bailout

 Feds Seize 
 Wholesale Credit Unions 

Regulators move to stabilize credit union industry as condition reaches critical

Mar 21, 09 6:19 AM CDT
(Newser) - Federal regulators have taken control of two major wholesale credit unions, which provide services to thousands of credit unions nationwide, to stabilize the industry, Bloomberg reports. The institutions, which have combined assets of $57 billion, failed the so-called stress test, showing an unacceptably high level of risk from mortgage-backed securities.... More »

MORE ABOUT:
credit crisis • mortgage backed securities • financial institutions • credit unions • financial crisis • National Credit Union Administration

 Toxic Asset Plan to Offer 
 Subsidies to Investors 

Plan will offer loans, subsidies to investors willing to suck up bad assets

Mar 21, 09 6:08 AM CDT
(Newser) - The Treasury will unveil a plan to take up to $1 trillion in mortgage-backed securities and other troubled assets from financial institutions early next week, the Wall Street Journal reports. The plan, the cornerstone of efforts to rescue the banking system, calls for the creation of an entity to buy... More »

MORE ABOUT:
Treasury Department • credit crisis • mortgage backed securities • financial crisis • toxic assets • TALF

(Newser) - The US will provide $5 billion in aid to the nation’s auto-parts manufacturers, a sector struggling because of the tenuous financial situation of Detroit’s Big Three car companies, the Wall Street Journal reports today. Many parts makers face bankruptcy, as they have not been paid for product delivered.... More »

MORE ABOUT:
Chrysler • General Motors • recession • Ford • credit crisis • manufacturer • bailout • cars • auto bailout • auto-parts suppliers

(Newser) - All the hubbub around AIG and its bonuses is “a complete farce,” Larry Kudlow writes in the National Review. No one should be surprised that those in charge have “completely bungled” the situation. “The government shouldn’t run anything, because it cannot run anything,” Kudlow... More »

MORE ABOUT:
executive compensation • AIG • credit crisis • bonuses • Obama administration • Wall Street bailout • President Obama • Timothy Geithner • TARP • Larry Kudlow

(Newser) - Jon Stewart’s takedown of Jim Cramer and CNBC is indicative of a real, if fleeting, sea change in our attitudes about the economy, Thomas Frank writes in the Wall Street Journal. “The applause Mr. Stewart has received for his j’accuse is the sound of the old order... More »

MORE ABOUT:
media • CNBC • Jon Stewart • Jim Cramer • credit crisis • economy • financial adviser

 In Credit Crisis, 
 Italians Turn to Mafia 

Uncle Tony will be happy to lend you this money you need for a very reasonable APR

Mar 16, 09 12:54 PM CDT
(Newser) - In Italy, there’s one industry profiting from the credit freeze: Organized crime. Thanks to its unparalleled liquidity, the mafia has become the lender of choice for many small Italian businesses, NPR reports. An estimated 180,000 have turned to so-called “stranglers,” or loan sharks, who charge annual... More »

MORE ABOUT:
organized crime • Italy • recession • Mafia • credit crisis

1 - 20 of 353 Stories | 1 2 3 4 5 ... 18 Next >>


from our news partners