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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: credit crisis

credit crisis stories: 354 news summaries

61 - 80 of 354 Stories | << Prev 1 2 3 4 5 6 7 8 ... 18 Next >>

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(Newser) - Though it's no secret the country is weathering a financial calamity, the crisis still lacks a catchy handle. The New York Times takes a look at news organizations' so-far unsuccessful efforts to find one: Some obvious contenders such as “credit crunch” and “Wall Street crisis” have popped up,... More »

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recession • credit crisis • Great Depression • credit market chaos • financial crisis • Wall Street bailout • economic downturn

 Cash-Poor NYT 
 Seeks $225M Deal 
 for Building 



Tight credit market, falling profits hurt paper

Dec 8, 08 8:16 AM CST
(Newser) - Facing declining profits and tight credit, the New York Times is looking to raise $225 million by borrowing against the 58% share the company holds in its new Renzo Piano-designed skyscraper in Times Square, the paper reports. The Times hopes to either take out a mortgage on the 52-story building... More »

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New York Times • mortgage • credit crisis • Renzo Piano • commercial real estate • financial crisis • newspaper industry

(Newser) - General Motors says it needs an immediate $4 billion loan from the government to get through the month, the Detroit Free Press reports. “Absent support, we can’t continue to operate,” the carmaker’s COO told Congress. GM is requesting a total of $18 billion in federal... More »

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Congress • General Motors • credit crisis • auto industry • bailout • economic downturn • Fritz Henderson

Goldman May See $2B Fourth Quarter Loss

Credit downgrades key catalyst in Wall Street titan's loss of value

Dec 2, 08 7:39 AM CST
(Newser) - After dodging many of the bullets that left its Wall Street peers wounded or dead, Goldman Sachs faces a net loss of up to $2 billion for the fourth quarter, the Wall Street Journal reports. The loss of $5 per share is five times worse than analysts feared as the... More »

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Wall Street • Goldman Sachs • credit crisis • securities • mortgage backed securities • financial crisis

 Islam Would Bring US Out of Crisis: Qaeda Leader

New video ties terror wars to financial meltdown

Nov 28, 08 10:58 AM CST
(AP) - Al-Qaeda's No. 2 leader appeared in a new video posted today calling on Americans to embrace Islam to overcome the financial meltdown, which he said was a consequence of the Sept. 11 attacks and militant strikes in Iraq and Afghanistan. Ayman al-Zawahiri's 80-minute recording also lashed out at Afghanistan's government... More »

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terrorism • credit crisis • al-Qaeda • economy • Ayman al-Zawahiri • 9/11 attacks

Shoppers Can't Halt Commercial Mortgage Crisis

Retailers will default, no matter how many sweaters you buy today

Nov 28, 08 9:02 AM CST
(AP) - Black Friday shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market. Hotels in Tucson, Ariz., and Hilton Head, SC, also are about... More »

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foreclosure • credit crisis • mall • retail sales • holiday shopping • commercialism • mortgage defaults • financial crisis

Early On, Holiday Travel Going Smoothly

Few delays reported on roads, airports at start
of Thanksgiving rush

Nov 26, 08 11:53 AM CST
(AP) - Travelers breezed through airport terminals and drivers cruised open roads today, the effects of a sour economy blamed for keeping people closer to home at the start of the annual Thanksgiving rush. Even though gas prices fell and airlines offered last-minute deals, many Americans appeared to be skipping trips this... More »

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airport • driving • air travel • credit crisis • Thanksgiving • Thanksgiving travel • economy • financial crisis

MARKETS

 Slim Gain Is Dow's 3rd in Row 

New consumer credit plan inspires confidence on the street

Nov 25, 08 3:16 PM CST
(Newser) - Stocks were mixed today, as enthusiasm over the Fed’s plan to get banks lending was tempered by a downward revision to third-quarter GDP and a drop in a home-price index, the Wall Street Journal reports. The Dow rose 36.47—its third consecutive up session—to 8,479.86.... More »

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Dow Jones • consumer confidence • Nasdaq • gas prices • credit crisis • S&P 500 • JPMorgan Chase • consumer credit • financial crisis

OPINION

 Lame Duck Can Do
 More Than Just Quack 


Nov 24, 08 2:47 PM CST
(Newser) - Lame-duck presidents have made their share of last-minute legislative contributions, and the current lame duck need be no different, historian Julian E. Zelizer writes for CNN. “Bush does not have to sit on his hands until January 20,” Zelizer writes, and calls on him to “follow the... More »

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credit crisis • President • Election 2008 • George W. Bush • lame duck • President Obama • economic downturn

(Newser) - Barack Obama says he will move quickly once in office to enact an ambitious, two-year plan to save or create 2.5 million jobs, Bloomberg reports. Obama announced his plan in his weekly radio address, where he also warned that “we risk falling into a deflationary spiral that could... More »

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Barack Obama • alternative energy • infrastructure • credit crisis • economic stimulus package • green revolution • job creation • President Obama • economic downturn

OPINION

Economy's Tanking Too Fast to Wait for Obama: Krugman

The downtime before inaguration could make things grimmer yet

Nov 21, 08 10:32 AM CST
(Newser) - The state of the economy right now reminds Paul Krugman a lot of the start of the Great Depression, including a lame-duck administration that seems to have no credibility, hence no influence on the markets, the columnist writes in the New York Times. Drastic damage was done to the country... More »

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deflation • credit crisis • bailout • economy • Great Depression • financial crisis • lame duck • economic downturn

Senate GOP Crafts Own Auto Bailout Package

Plan would repurpose $25B fuel-efficiency carrot already passed

Nov 19, 08 1:47 PM CST
(Newser) - Senate Republicans are crafting legislation that would repurpose an already-approved $25 billion Energy Department initiative to bail out struggling automakers, the Detroit News reports. The plan is at odds with Democratic efforts, which would use money from the $700 billion Wall Street bailout to help Detroit. The Energy money was... More »

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Congress • Chrysler • Senate • General Motors • Detroit • Mitch McConnell • Ford • credit crisis • auto industry • bailout • auto bailout

(Newser) - The CEOs of the Big Three automakers told the Senate today that a $25 billion bailout of the industry is necessary to prevent "catastrophic" effects on the economy, the New York Times reports. “If the domestic industry were allowed to fail,” said GM's Rick Wagoner, it... More »

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Congress • Chrysler • Senate • General Motors • Detroit • Ford • Chris Dodd • Alan Mulally • Robert Nardelli • credit crisis • Rick Wagoner • Senate Banking Committee • bailout • auto bailout

 Insurers Buy Troubled S&Ls 
 in Ploy for Bailout Cash 

Crisis has insurance titans desperate for capital

Nov 17, 08 4:21 PM CST
(Newser) - Four huge insurers are in the process of buying small, troubled S&Ls in order to qualify for a chunk of the Treasury’s bailout cash, Bloomberg reports. Genworth Financial, Lincoln National, Hartford Financial Services, and Aegon NV have set their sights on US banks cited for “unsafe and... More »

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insurance companies • credit crisis • bailout • banks • Troubled Asset Relief Program • financial crisis • savings and loan

(Newser) - The global economic crisis is raising the threat to national security, the Washington Post reports. Experts and intelligence officials worry that mounting inflation and unemployment in Third World countries could spark radical movements and destabilize friendly governments. What’s more, strained budgets in the West mean less money to... More »

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China • national security • Pakistan • intelligence • United States • recession • foreign intelligence • credit crisis • economic downturn

Bailout's Execution Draws Bipartisan Ire on Hill

Treasury's point man takes heat from lawmakers

Nov 14, 08 3:38 PM CST
(Newser) - The Treasury Department's radical shift in the execution of the government bailout drew fire from both sides of the aisle in a Capitol Hill hearing today, the Washington Times reports. Neel Kashkari, point man for the $700 billion plan, felt the wrath of the House Oversight subcommittee's ranking Republican,... More »

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Congress • Henry Paulson • Dennis Kucinich • Treasury Department • credit crisis • Darrell Issa • Wall Street bailout • Elijah Cummings

ANALYSIS

 Crisis Looms for Credit Cards 

Soaring defaults could fell normally resilient industry

Nov 14, 08 3:10 PM CST
(Newser) - Credit cards may be the next industry to be pummeled by the financial crisis, Time reports. The charge-off rate—money that lenders don't think they'll collect—is set to hit 10% in 2009. That's double the rate of the last decade and amounts to $96 billion in unpaid debt. Typically... More »

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credit card • interest rate • credit • credit crisis • revenue • default • savings • financial crisis

(Newser) - Freddie Mac, the swamped mortgage giant seized by the government two months ago, asked for $13.8 billion from the Treasury today after a record quarterly loss plunged its net worth into the negative, Bloomberg reports. Sister company Fannie Mae, also under government control, said this week it might need... More »

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Freddie Mac • Fannie Mae • credit crisis • mortgage backed securities • subprime crisis • bailout • financial crisis

Citi to Lay Off 10,000,
Raise Credit Card Rates

Banking behemoth will shed 10,000 as it grasps for positive cash flow

Nov 14, 08 7:13 AM CST
(Newser) - Citigroup, seeking profitability after suffering net losses of $20 billion over the past year, is laying off at least 10,000 employees worldwide and raising rates on some credit card holders, the Wall Street Journal reports. Officials were told to trim employee compensation budgets by 25%, allowing managers to minimize... More »

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Citigroup • credit card • credit crisis • job cuts • Vikram Pandit • investment banks • credit card accounts • financial crisis

ANALYSIS

 Bailout Flip-Flop 
 Diminishes Paulson 


Nov 13, 08 7:54 PM CST
(Newser) - Henry Paulson’s recent about-face on his plans for the $700 billion bailout do not bode well for his legacy, write Bloomberg's Rebecca Christie and Matthew Benjamin. Perhaps most damaging is not the change of mind, but what it says about his initial plans. “This is a flip-flop,”... More »

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Bush administration • Wall Street • Henry Paulson • Treasury Department • credit crisis • bailout • flip-flop

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