Credit Crisis

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President Obama: Sign New Emancipation Proclamation to Free Us From Debt Slavery and Free-up the Economy

Ronald B. Robinson | Posted 03.16.2009 | Politics

Read More: Rescue Plan, Treasury Department, Credit Crisis, President Obama, Banks, Fico, Economy, Federal Reserve Board, Comptroller of the Currency, Stimulus, Business, Bailout, Housing Crisis, Politics News, Paulson, Credit Card Industry, Credit Scores, Housing, Financial Crisis, Foreclosure Crisis, Just Price Solutions, Bonuses, Politics, Economic Crisis, Breaking News, Bignews, Mortgage Crisis, Reform, Wealth, Banking Industry, Freddie Mac, Ponzi Scheme, Emancipation Proclamation, Debt Slavery, Republicans, Fanie Mae, Tax Cuts, Politics News

Mr. President, help us create "a more perfect Union" from the "bottom-up." You can be the Lincoln of our times and free us from the greed and "top-down" bondage that has brought us here.

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Large Banks On The Edge Of Insolvency

nytimes.com | STEVE LOHR | Posted 03.15.2009 | Business

Read More: Banks Close to Insolvency, Economy, Banks Insolvency, Credit Crisis, Banks Near Insolvency, Stimulus Package, Financial Crisis, Business News

Some of the nation's large banks, according to economists and other finance experts, are like dead men walking. A sober assessment of the growing m...

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A Proposal on How to Clean Up the Banks

Jeffrey Sachs | Posted 12.14.2009 | Business

Read More: Economic Stimulus Package, Bailout, Clean Banks, Economic Crisis, Toxic Assets, Timothy Geithner, Credit Crisis, Government Bonds, Geithner Plan, 100 Days, Geithner Bailout, Obama Administration, Obama Economy, Zombie Banks, Business News

The taxpayers should take over the bad assets in return for bank equity, but with a twist: the amount of equity transferred to the taxpayers would not be determined immediately.

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Geithner's Vague Bad Bank Plan Aggravates Credit Crunch: Analysis

Reuters | Kevin Drawbaugh | Posted 03.15.2009 | Business

Read More: Treasury Department, Bad Bank, Tim Geithner, Credit Crunch, Toxic Assets, Credit Crisis, Toxic Assets Bad Bank, Bad Bank to Buy Toxic Assets, Timothy Geithner, Treasury Secretary, Business News

WASHINGTON (Reuters) - Global credit markets are unlikely to revive as long as the U.S. government continues to dangle the vague prospect of a toxic a...

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Wall Street: Get Their Claws Out of the Real Economy

Ann Pettifor | Posted 03.14.2009 | Business

Read More: Interest Rates, Debt, Credit Crisis, Bank Bailout, Deflation, Wall Street, Cost of Credit, Deflationary Spiral, Debtonation, Business News

The Treasury seems in danger of pandering to the Wall Street beast, rather than protecting the vulnerable -- those companies where real wealth is created.

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The Audacity of Dopes

William K. Black | Posted 03.13.2009 | Business

Read More: Tim Geithner Bailout, Savings and Loan Industry, Wall Street Crisis, Fdic, Geithner Plan, Gresham’s Dynamic, Geithner Bailout, Economic Crisis, Federal Deposit Insurance Corp, Toxic Assets, Banks, Banking Crisis, Financial Crisis, Timothy Geithner, Credit Crisis, Business News

The bankers have convinced the Bush and Obama administrations that the taxpayers should be looted to bail out risk capital. We should stop listening to the folks that caused the crisis.

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Obama and The Economy: How It's Going to Play Out

Ian Welsh | Posted 03.12.2009 | Politics

The only people in this debacle who acted in the interests of ordinary Americans are House Democrats, but in the end they're going to be forced to choose between no bill and a fatally compromised bill.

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Credit Crunch: Is Your Business Getting Squeezed?

Tim Berry | Posted 03.12.2009 | Business

Read More: Banks, Banking Crisis, Small Business Owners, Small Business, Credit Crisis, Credit Crunch, Business Financing, Video, Business News

It should be a simple question, right? How bad is the credit crunch for small business?

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The Auction Room Action

Charlotte Appleyard | Posted 03.09.2009 | Business

Read More: Contemporary Art, Credit Crisis, Sotheby's Christie's, Art Market, Damien Hirst, Sotheby's, Business News

There has been a lot of discussion about what will happen to art prices.Theories abound that contemporary galleries will return to their "old masters" rather than nurturing younger talent.

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Open Letter to My Mortgage Companies

Francine Hardaway | Posted 03.09.2009 | Business

Read More: Citibank, Crisis, Mortgage, Lehmann Brothers, Aurora Loan Services, Tarp, TARP Money, Money, Economy, Economic Crisis, Mortgage Crisis, Credit Crisis, Arizona, Credit Crunch, Subprime Mortgages, Lehman Brothers, Subprime Mortgage Crisis, Subprime Mortage Crisis, Business News

No, I don't want to move in with my daughters. I want to ask you to re-finance my mortgage at the current value of my house at a 4.2% rate, like everyone in Congress is suggesting.

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Put the Bankers Back to Work

E. Glen Weyl | Posted 03.08.2009 | Business

Read More: Tarp, Federal Reserve, Banking Crisis, Financial Crisis, Credit Crisis, Bailout, Economic Crisis, Lenders, Congressional Bailout, Business News

The Fed and Congress may be good at managing monetary policy and passing laws, but they are not loan officers nor bond investors.

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Change FICO Credit Scoring to Stimulate Economy and Address Housing and Banking Crisis

Ronald B. Robinson | Posted 03.25.2009 | Business

Read More: Treasury Department, President Obama, Economic Crisis, Federal Reserve Board, Economy, Fico, Ponzi Scheme, Credit Crisis, Stimulus, Banking Industry, Mortgage Crisis, Politics, Wealth, Credit Card Industry, Tax Cuts, Credit Scores, Banks, Republicans, Bonuses, Comptroller of the Currency, Business, Financial Crisis, Bignews, Paulson, Housing, Reform, Foreclosure Crisis, Housing Crisis, Rescue Plan, Bailout, Bailout Outrage, Business News

Republicans are proposing a 4% home mortgage Ponzi scheme that's the modern day version of "40 acres and a mule." It's every bit the false promise that dashed the hopes of ex-slaves after the Civil War.

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Citibank Will Boost Lending By $36.5 Billion

AP | MADLEN READ | Posted 03.25.2009 | Business

Read More: Credit Availability, Lending Crisis, Credit Crunch, Credit Crisis, Lending Standards, Credit Markets Tight, Citibank Lending, Citibank, Bailout Outrage, Business News

NEW YORK — Citigroup, under pressure to increase its lending, says it will spend $36.5 billion to issue mortgages, make credit card loans and bu...

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"Too Big To Fail": A Bailout Hoax

Ismael Hossein-zadeh | Posted 03.05.2009 | Politics

If "illiquidity is the core economic problem," as policy makers argue, why is then the government's injection of enormous amounts of liquidity failing to unfreeze the credit market?

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Live from Davos - Fareed Zakaria's Snappy Zinger

Jack Hidary | Posted 03.03.2009 | World

Read More: Gordon Brown, Wef, Zakaria, Davos 09, Davos, Latin America, Mexico, South Korea, Financial Crisis, Credit Crisis, Fareed Zakaria, World Economic Forum, Calderon, World News

The last plenary session at the WEF last night featured Fareed Zakaria asking a zinger of a question to a panel of the heads of state of the UK, South Korea, South Africa and Mexico.

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Limbaugh Needs a Lesson in Reality

Mike Papantonio | Posted 03.01.2009 | Media

If Limbaugh could step out of his 25,000 square foot home and see the pain of parents telling their children that they just lost their home, maybe then he would want Obama to succeed.

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We Need a Rehab Program for Spenders

Don McNay | Posted 02.24.2009 | Business

The nation's economic system has also gotten addicted to shopping.To turn the economy around, Americans need to find a spender's version of rehab.

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Manufacturing a Dream and a Recovery

Scott Paul | Posted 02.22.2009 | Politics

Read More: Infrastructure, Economic Stimulus, American Manufacturing, Taxes, U.S. Economy, Economy, Economic Crisis, Manufacturing, Community Organizer, Jobs, Credit Crisis, Taxpayers, Barack Obama, Manufacturing Jobs, US Economy, Obama Economic Stimulus Plan, Economic Stimulus Package, Wall Street Crisis, Job Cuts, Wall Street, Chicago, South Side of Chicago, Community Organizing, American Jobs, Housing Bubble, Politics News

If the destruction of capitalism and the arc of history were responsible for American manufacturing's steep decline, there would be a legitimate debate about whether it's worth saving.

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Businesses Big And Small Choosing Liquidation Over Restructuring

Washington Post | Annys Shin | Posted 02.18.2009 | Business

Read More: Small Business, Economic Crisis, Economy, Financial Crisis, Credit Crisis, Businesses Liquidating, Recession, Business News

With the economy in the tank, companies are doing all they can to stay afloat. For many, though, even the most desperate measures have not been enough...

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How To Profit From The Credit Crunch: Wall Street Journal

Wall Street Journal | MARK GONGLOFF | Posted 02.18.2009 | Business

Read More: Economy, How to Make Money From the Credit Crunch, Financial Crisis, Credit Crunch, Credit Crisis, How to Make Money Form the Credit Crisis, Business News

Investors shell-shocked by two nasty bear markets in stocks in less than a decade are starting to look elsewhere for good returns. In the wake of the ...

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Bailout A Windfall To Bankers Reluctant To Loan

New York Times | MIKE MCINTIRE | Posted 02.17.2009 | Business

Read More: Banks Not Lending, Economic Crisis, Financial Crisis, Banks, Credit Crisis, Bank Bailout, Bailout Bandits, Business News

At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of ...

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Citigroup And The Credit Card

Christopher Brauchli | Posted 02.15.2009 | Business

Read More: Bailout Plan, Citigroup Stock, Credit Crisis, Credit Card Debt, Citigroup Bailout, Citibank, Interest Rates, Citigroup Customers, Citigroup Interest Rates, John Stumpf, Vikram Pandit Citigroup, Vikram Pandit, Credit Card Interest Rates, CEO Bonuses, Financial Crisis, Citigroup Credit Card, Winfried F. W. Bischoff, Business News

As credit card holders who carry unpaid balances know, most credit card companies reserve the right to raise interest rates at most any time for most any reason.

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SEC Rules Don't Go Far Enough

Neil Baron | Posted 02.13.2009 | Business

Read More: Economic Downturn, Stocks, Money, Stock Market, Economic Reform, Economy, Home Values, Economic Crisis, Credit Crisis, Subprime Mortage Crisis, Capitalism, Securities and Exchange Commission, Subprime Loans, Business News

Credit ratings have an extraordinarily broad effect on our financial system -- witness their role in the subprime crisis.

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Will the Rising Personal Savings Rate Boom the US Recovery?

Penny Herscher | Posted 02.13.2009 | Business

Read More: Credit Crisis, Economic Stimulus Package, Saving Money, Saving for Retirement, Business News

Our debt culture has come home to roost now, but contrary to the obvious, starting to save now could be the wrong thing for the country.

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The Post Crazy Economy

Don McNay | Posted 02.09.2009 | Business

Read More: U.S. Economy, Wall Street Bailout, Economy, Economic Crisis, Consumer Spending Down, Mortgage Crisis, Addiction, Main Street, Don McNay, Credit Crisis, Credit Cards, Wall Street Journal, Frugality, Wall Street Crisis, Subprime Mortgages, Wall Street, Kentucky, Personal Finance, Business News

To some, the crisis was caused by consumers. It's as if they are unhappy that we're getting our act together. It's similar to a dope dealer getting angry when a customer goes into rehab.

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