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Credit Market Chaos

Started by J Kelman; Last updated Feb 28, 08 6:30 PM CST by D Lim | View history

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Credit Market Chaos

Has the hubris factor finally caught up with private equity, hedge funds, and the rest of the teflon titans?

Stories

Stories 161 - 180 of 197

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August 2007
- Home Resales Down For Fifth Straight Month
  
  newser | Bloomberg | Aug 27, 07 1:08 PM CDT
  
  Existing home sales slumped again in July—the fifth straight month the figures have been off and a sign that the market-draining housing downturn will continue. Though the 0.2 percent decline was the smallest movement since 2002, experts expect sales to continue dropping, according to Bloomberg. More »
- Plastic May Pose Next Big Threat to Economy
  
  newser | Chicago Tribune | Aug 26, 07 4:54 PM CDT
  
  The subprime mortgage crisis may spark another financial disaster: bad credit card debt. When rates hit 50-year lows, many owners borrowed against their homes to pay off high-interest credit cards. Now, with rates increasing, many may not be able to pay down both their mortgages and their credit cards, the Chicago Tribune reports, and will default or go bankrupt. More »
- Condo Crash Is Just Beginning
  
  newser | Wall Street Journal | Aug 25, 07 11:40 AM CDT
  
  Mortgage lenders are about to be hit with another wave of foreclosures and bankruptcies, the Journal reports, as the crisis kicks in in condo market. Because buildings take years to complete, even after buyers have signed contracts, the effect of declining property values and tight credit are slower to talk effect than in single-family homes. More »
- One Unrivaled Market Force: Vacation
  
  newser | Financial Times (UK) | Aug 25, 07 6:19 AM CDT
  
  The FT leads with a prediction that market volatility will decrease over the next week for a simple reason: everyone's going on vacation. Major decisions by banks, hedge funds and mortgage lenders will be on hold as the financial world bails New York, London and Frankfurt for the end of the summer season. More »
- New-Home Sales Grow, Spur Wall St.
  
  newser | Bloomberg | Aug 24, 07 11:21 AM CDT
  
  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 »
- Banks Might Derail Home Depot Deal
  
  newser | Wall Street Journal | Aug 24, 07 7:10 AM CDT
  
  The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have threatened to withdraw from a deal that may become the first casualty of the credit crunch. More »
- Credit Crunch Continues, and So Do Ads
  
  newser | Washington Post | Aug 24, 07 6:43 AM CDT
  
  As the credit crunch transforms the financial landscape, one thing hasn't changed: lenders continue to offer loans that are too good to be true. The Washington Post writes that mortgage companies are still offering risky products to risky customers—even Countrywide, which barely avoided bankruptcy, is flogging cheap money with the slogan "We make it easy!" More »
- Financial Woes Crucial Issue in '08 Election
  
  newser | Politico | Aug 23, 07 3:51 PM CDT
  
  A new poll of AARP members shows that financial security will be a big factor in how 90% will vote in early 2008 presidential primaries, the Politico reports. Though many of the 5,000 potential voters aren't familiar with candidates' positions on financial and health issues, one pollster says, more than half are willing to base decisions on the candidates' stances. More »
- World Markets Climb After Countrywide Stock Sale
  
  newser | Bloomberg | Aug 23, 07 9:21 AM CDT
  
  Markets climbed worldwide after Bank of America invested $2 billion in Countrywide, giving the mortgage lender a desperately needed injection of cash and proving some appetite is left as subprime mortgages continue to rot. Barclays in the U.K., Mitsubishi in Japan, and Countrywide itself in Europe all saw major gains. "It's a significant vote of confidence," says an Edinburgh trader. More »
- Credit Jitters May Put KKR Offering on Ice
  
  newser | Times (UK) | Aug 23, 07 7:45 AM CDT
  
  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 collapse. KKR, however, claims that the IPO is continuing full steam ahead. More »
- Bank of America Bails Out Countrywide
  
  newser | Los Angeles Times | Aug 23, 07 6:34 AM CDT
  
  Countrywide came back from the brink yesterday as Bank of America bought $2 billion in preferred stock in the mortgage company, writes the Los Angeles Times . Countrywide's share price soared in after-hours trading, only a week after the credit crunch brought it to the point of bankruptcy. More »
- Online Brokers Play 'Let's Make a Deal'
  
  newser | Wall Street Journal | Aug 22, 07 3:34 PM CDT
  
  Though past merger talks were never consummated, online stockbrokers E*Trade and TD Ameritrade are again in "serious discussions" over a union, the Wall Street Journal reports. A consolidation would create a dominant player in online trading, reducing competition and perhaps ratcheting up costs for consumers. One source estimates the company could be worth $20 billion. More »
- Monthly Foreclosures Climb Again
  
  newser | Forbes | Aug 22, 07 2:34 AM CDT
  
  Foreclosure numbers were up big again in July, rising 9% from June’s figures and a whopping 93% from a year ago, an unwelcome sign for already reeling credit markets. Foreclosures rose in 43 states, but California, Florida, Michigan, Ohio and Georgia accounted for over half of the the activity, Forbes reports. More »
- Wall Street Bonuses To Sink
  
  newser | Bloomberg | Aug 22, 07 12:31 AM CDT
  
  The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first time in five years, Bloomberg reports. More »
- Dems' New Deal Can't Be Same as Old Deal
  
  newser | American Prospect | Aug 20, 07 8:00 AM CDT
  
  If current market turbulence becomes a full-blown recession, a Democratic president would need revolutionary changes to solve America’s financial troubles, writes American Prospect editor Robert Kuttner. "In the short run, a faltering economy is a political windfall for Democrats," he contends, but pointing fingers at the GOP won't solve anything if the Dems inherit the problem. More »
- Credit Crunch Hits Bond Market
  
  newser | Washington Post | Aug 20, 07 3:36 AM CDT
  
  Ripples from the credit crisis have reached the corporate bond market—threatening to slow down the economy by seriously limiting the ability of major corporations to borrow money for new projects, the Washington Post reports. Credit problems have already begun to bite into the future plans of Hertz, Deere & Co. and Home Depot . More »
- Asian Markets Soar After Fed's Rate Cut
  
  newser | Bloomberg | Aug 20, 07 1:00 AM CDT
  
  The global equities sell-off ground to a halt today as Asian stocks had their biggest gains in five years. Responding to Friday’s cut in the US Federal Reserve’s discount rate, Japan’s Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi indexes all saw huge gains as panic over the US subprime mortgage crisis largely subsided. More »
- Credit Crisis: Damaging or Deserved?
  
  newser | Economist | Aug 19, 07 9:17 PM CDT
  
  The Economist takes the long view on the turmoil that has engulfed the financial markets, noting that investors have long wondered whether the "the securitisation of just about every form of debt into a tradable asset" would, in the end, spread risk efficiently or lead to cataclysmic failure. The immediate threat, it argues, is to the banking system, where lack of confidence in lending can cripple otherwise solvent institutions. More »
- Consumer Confidence Plummets
  
  newser | Reuters | Aug 17, 07 5:37 PM CDT
  
  Consumer confidence dropped dramatically in August, according to the latest index released by Reuters and the University of Michigan. The metric places consumer sentiment at 83.3, the lowest reading of the year, and well below the predicted 88.0. It may be a sign that chaos on Wall Street is affecting normal Americans, analysts say. More »
- Fed's Cut Flips Markets Upwards
  
  newser | Wall Street Journal | Aug 17, 07 4:46 PM CDT
  
  Markets surged upwards today after the Fed cut its discount rate, thanks to a flurry of short-covering aided by today's options expiration. The Dow was up for the first time in over a week, jumping 233.30 to close at 13079.08. But many experts warn that the rally could be short-lived, arguing that even big gains are the product of the volatility an uncertain credit market has bred. More »

Stories 161 - 180 of 197

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Images (3)
Videos (1)

Stock traders check on prices before the market opens at the New York Stock Exchange on Monday, July 30, 2007. Stock futures lifted Monday, as Wall Street, still jittery about a possible credit crunch... (Associated Press)

(Index Stock (http://www.indexstock.com))

An investor looks at a screen at a stock exchange in Changchun in northeast China's Jilin province Tuesday June 10, 2008. Asian stock markets sank Tuesday, with China's most-watched index plunging 7.7... (AP Photo)

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Jim Cramer's Complete Market Meltdown Rant! (Uncut) (Aliceangel77 (YouTube))

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Related Threads

Subprime Collapse • The Big Banks • Bear Stearns • The Markets • Housing Market • Ben Bernanke • Is It Recession? • The Dow • Bear Dead at 85 • Private Equity

Background

Financial Market
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In economics a financial market is a mechanism that allows people to easily buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect efficient...

» Read more about Financial Market at Wikipedia

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