Debt collectors perform a useful function. They recover scads of bad debt for creditors -- an estimated $40 billion worth in 2007 -- that helps keep l...
Louis Licata has shelved plans to hire three more employees for his Cleveland law firm. Jeannie Macone, of Florida, is cutting back on inventory for h...
Credit markets may not be completely healed, but they are in much better shape than they were three months ago.
Over and over we've heard that consumers should act responsibly when it comes to credit cards. I agree -- but it's time we held credit card companies to the same standard.
Whereas consumers are far from blameless, the card companies -- with a push from the government -- could have done a much better job educating people and treating them more fairly.
Much attention is being paid to the $12.1 trillion government bailout, and where that money is going. But the root cause that has created the need for...
The credit crunch is threatening plans to lease Midway Airport to private investors for $2.5 billion. A Chicago official says an April 6 closing date...
If there is a credit crunch in London, which few doubt, it's not at Cipriani, the Italian restaurant in the heart of London's exclusive Mayfair district.
Although it may not be as much fun as the more recent version, the new normal will probably look more like the normal of my youth than the unsustainable glory days of the last 20 years.
Take the money earmarked to large, corrupt and failing banks that wretchedly brought us to the precipice, and have the FDIC offer matching capital to anyone setting up a new community bank.
The credit crisis has placed the global financial system under almost unprecedented strain. Tackling the many problems and charting a course throug...
If credit unions were doing a decent job of marketing, they could grab a massive percentage of the market from banks. But I haven't been asked to switch. I haven't seen an ad.
There is plenty of uncertainty now, but much less risk, because high quality stocks are available at much lower prices, and logically an investment is more attractive and less risky if made at a lower price.
The new budget President Obama proposed last week is no less than another American revolution, an economic revolution that changes the very fundamenta...
During the election there was a lot of talk of not using a hatchet when a scalpel is needed. It seems as if Citibank just brought out their hacksaw and blunt hatchet.
The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies.
It's not the government's job to make stocks go up. It's their job to ensure stability and confidence to counter the fear and panic now so prevalent all over the world. Markets will find their own equilibrium when that happens.
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...
Housing prices have to fall because they have been inflated for years, but they will ultimately reach an economic equilibrium. When that is accomplished, the financial system will recover.
Last week we asked business owners about business credit: bank loans, commercial credit, SBA loans, etc. Results were not good, as the numbers (below)...
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...
It should be a simple question, right? How bad is the credit crunch for small business?
Instead of recapitalizing and subsidizing the foolish and irresponsible banks that got us into this mess, we should let home prices fall to their economic equilibrium.
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.
While granting someone with a low income a $300,000 mortgage is absurd, so is granting them zero credit or credit at rates that would make a loan shark blush.
