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POPSWelcome to Bad Credit History Secured Loans Bad credit history loans can be made for any big or small borrower who has some discrepancies in his credit history. This may be due to missed repayments, Restskatt, defaults, CCJs etc. these factors lower the credit score for the borrower is less than 580 on the scale FiCO causing a bad credit history. By borrowing these poor credit history loans and repaying them on time, the credit score can be improved and thus benefit from borrowers in a double manner.
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POPSThe Next Card to Fall: Credit Cards? If the credit card industry is the next to fall, perhaps the silver lining will be restrictions on how much they can charge customers interest. As it is, current credit card interest rates, especially for those who fall behind in their payments, constitute usury.
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POPS Bailout Is Not The Right Answer
This subprime lending was more than a minor relaxation of existing credit guidelines. This lending was a wholesale abandonment of reasonable lending practices in which borrowers with poor credit characteristics got mortgages they were ill-equipped to handle. Once housing prices declined and economic conditions worsened, defaults and delinquencies soared, leaving the industry holding large amounts of severely depreciated mortgage assets. The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government. The obvious alternative to a bailout is letting troubled financial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company. Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airline
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POPSThe Community Reinvestment Act and It's Defenders The first two propositions flatly contradict each other, whereas the third is unequivocally false. Fed policy — which is not even mentioned by Gordon in an article that is ostensibly about the cause of the subprime crisis — is the cause of the boom-and-bust cycle that has caused the housing bubble and its bursting. Not "market failure" but Fed policy. Gordon cites Fed bureaucrat Janet Yellen as the source of a "killer statistic" that absolves the government of all guilt: "Independent mortgage companies" which are not covered by the CRA made many more "high-priced loans" to borrowers with bad credit than did CRA-regulated banks, she says. Well, so what? Even if Yellen is correct, that does not mean that CRA-regulated loans have not caused tens of billions of dollars in defaults.
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POPSLehman Bros Failure Looms, Stock in Free Fall Bear Stearns was first, then Freddie and Fannie last week, now Lehman is at the plate, and Washington Mutual on deck. The latter two are likely to strike out financially like the previous, all in the ninth inning of Bush's term and an inept Congress. (Democrats scramble to freeze foreclosures in an election season, which only delays the inevitable for people who have defaulted, and further stresses lenders who cannot liquidate bad debt.) As the article says, if they do, the Fed will ride in, absorb the debt and print the money for it (causing a weaker dollar, and thus inflation), as the major banking institutions of America become virtually Nationalized, and the Government will then play the Collection agency for defaulted loans. The mirage of America's financial prosperity and stability is falling, and as the Fed chairman warned a week ago, the fallout has not even begun.
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POPSEx-Bear Stearns managers arrested for fraud! Welcome to un-regulated capitalism. "Barclays accused Bear Stearns of knowing for months that certain assets in the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund were worth "far less" than their stated values." The big shoe to fall... Naked short selling!
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POPS12 Steps to Economic Meltdown - Nouriel Roubini
Seventh, the banks losses on their portfolio of leveraged loans are already large and growing. The ability of financial institutions to syndicate and securitize their leveraged loans - a good chunk of which were issued to finance very risky and reckless LBOs - is now at serious risk. Eighth, once a severe recession is underway a massive wave of corporate defaults will take place. Ninth, the "shadow banking system" or more precisely the "shadow financial system" (as it is composed by non-bank financial institutions) will soon get into serious trouble. This shadow financial system is composed of financial institutions that - like banks - borrow short and in liquid forms and lend or invest long in more illiquid assets. Tenth, stock markets in the US and abroad will start pricing a severe US recession Eleventh, the worsening credit crunch will lead to a dry-up of liquidity in a variety of financial markets, including otherwise very liquid derivatives markets.
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POPSHELOC tightening An article relating to the HELOC tightening Mr. Bruce Norris mentioned at the seminar last week.
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POPSCash Infusion Needed For Bond Insurers To Maintain Their Top Credit Rating <UPDATE>Bond insurers may need up to $200 billion to remain viable, according to analysts, and a government-brokered rescue effort described as being worth $15 billion was dismissed as a Band-Aid. A cash infusion would allow the bond insurers to maintain their top credit rating, which is critical to their business of guaranteeing trillions of dollars of municipal bonds and asset-backed securities.
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POPSSearching for Foreclosures Hearing the word "foreclosure" can be super scary, especially to recent homeowners like myself. This has been such a hot topic recently ... it's kind of crazy! But with all the buzz around the topic, you cannot ignore the fact that they are out there. Quote taken from article by Allie on AOL Dec 20th 2007 --------------------------------------------------------------- I clipped this comment because I thought it was interesting. Although this comment singles out the Arabs I want to make it known that it's not just Arab investors, its also European and Asian investors that are slowly taking hold of this country and our economy.
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POPSUnpaid credit cards bedevil Americans While it may not be news , but the situation keeps getting worse, with average families relying on credit to provide essentials, and recurrent expenditure. There is also the trouble that interest payments are becoming hard to maintain, let alone the capital.
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POPSMerry Christmas: Recession Coming to Town The cost of war-mongering, including oil prices and national debt, will finally come home to roost and Americans will no longer be able to play while causing chaos in the world without feeling a pinch themselves. "Whatever a man (or nation) sows, that will he also reap". The housing sub-prime loan debacle will cause Humpty to fall off the wall, and you know the rest of the story. The Banksters are behind the wars (hint: changing theocratic countries opens new financial and merchandising markets), the same who made money on luring people into foolish loans. They are also the ones who bring you "Christmas" (a festival of spending) every year, the real Scrooges who profit from the so-called "holy-day".
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