Fed Chairman Bernanke said a U.S. government program intended to spark lending to consumers and businesses is still necessary.
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending.
Connecticut Attorney General Richard Blumenthal is questioning why up to $400 million in federal bailout money is going to the big three credit-rating agencies that he says helped create the economic meltdown.
This week, a $1 trillion government program to try to bust through credit clogs and get money flowing freely to shoppers, students, car buyers and mom-and-pop businesses kicked off.
In a March 18 story about Ford Motor Credit, The Associated Press incorrectly quoted the company spokeswoman's reference to the Federal Reserve's Term Asset-Backed Securities Loan Facility, or TALF, program. The spokeswoman, Margaret Mellott, referred to "the" TALF program in the quote, not "our" TALF program.
Ford Motor Co.'s financial arm said Wednesday it would offer new bonds that can take advantage of a Federal Reserve program designed to make it easier for companies to extend credit to consumers.
The Google search box might be a good indicator. Have you taken the type to type "not paying" in that little box? Notice the first suggestion is credit cards. Even Google understands people are not paying credit card debt. Some simply cannot.
No Economic Recovery in Sight: More Financial Chaos Ahead By Bob Chapman, The International Forecaster (reposted on DProgram.net)
Smaller loans will go under the regulatory and congressional radar.
How do you still feel about American Express? Feel like your fees just bought someone a big house or a few luxury cars?
Another near-record loss for this plastic provider. Although monumental losses were reported, the stock is holding steady and speculatively attributed to the primary shareholder: Buffett.
American Express has just announced the suspension of pension contributions for all its UK employees for the following 18 months.The reason that the company gave for suspending payments was a very simple one: they had become unaffordable.
As the July issue of industry publication US Banker noted, more than $168 billion of the $204 billion in commercial mortgages coming due this year are held by banks and thrifts. That dwarfs the $19.1 billion of CMBS loans that also mature this year.
Isn't that nice when the former parent company owner leaves you in a lurch and you get stuck with the bad karma? That's exactly what has happened to Ameriprise.
Someone chuckled when I said, "I have felt like 2.5 million since I have been away from that toxic cesspool. Stress kills."
In a research note today, Citigroup analysts estimated that "more than $75 billion of CMBS market capitalization has been lost" since the S&P; request for comment on changes to their U.S. CMBS rating methodology was issued two days ago. S&P; noted:
Felix Salmon takes an interesting look into credit cards and interacts with his audience. It explains the dynamics of the higher-end consumer that pays their bill in full monthly and why the credit card markets will be a matter of convenience as opposed to necessity.
SEC Chairwoman Mary Schapiro unveiled new rules that would prohibit employees from trading stocks of companies that are under investigation by the agency. The rule pertains even if the SEC employees are not personally involved in the investigation.
You can run... but you cannot hide. This is almost comical. Original arrest was on April 15th, proving Danny isn't so wise after federal authorities deepened the multi-state investigation.
A witty article on the uber-mystique of a credit card product called the Centurion Card tangled with the current state of the economy.
There was a lot of video and written press about this successful Atlanta businessman at the time of his tangle with American Express. Now he's investing his time wisely with consumer advocacy and helping the youth understand financial literacy.
Chenault said "a new law that would impose sweeping limits on credit card issuers will likely hurt his company and reduce the flow of credit to consumers."
Kyl was onsite at American Express a few years ago and horrified the mixed-culture crowd about certain nationalities being terrorists. This geezer has GOT to go. He's a nutbag.
Even The Oracle is trimming back on purchases these days. Although he and his firm is in a league of their own, it was noted that some of the largest equity holdings in Berkshire's U.S. portfolio have plunged in the past year. American Express Co.
Ken could have taken a pay cut and saved a few heads. Rather, it will add to the unemployment figures if they're not in positions qualifying for severance.
Geithner unveils his new investment plan for the toxic assets. How do you view his plan? Some called the plan 'shockingly good' and it almost appears too good to be true.
Spin backwards to the American Express unit spin-offs of their Financial Advisors (AEFA) unit (*1) announced February 1, 2005.
There likely will not be any argument to my statement that our educators are woefully underpaid. Now enter into the picture an investment broker who was hired by the Indiana state teachers union insurance fund.