Nouriel piles on

Has Nouriel Roubini ever been on CNBC? That question just came to mind as he rattled off the many reasons why financial markets are likely to get ... , it was prime, it was home equity loans, it was CDOs, it was MBSs, commercial real estate, credit cards, auto ... up with 2 trillion dollars in credit losses. Of course, most of these financial institutions [more...]

Date: 2008-09-15 04:00:00

Blog posts (630) | Videos (227)
 

Offshoring and the Auto Industry

auto plant GM China.jpg (photo credit: Lou Linwei for The New York Times) The U.S. government is about to kick $15 billion over to the U.S. auto industry. And what we have seen with all of the bailout cases thus far -- from AIG ... has compellingly argued that the best way to save the American auto industry is to force it to choke [more...]

Date: 2008-12-08 14:10:36

and we lost 5 bucks in the laundry yesterday, too

talkleft tells us that the stock market lost $3 trillion in the last three days: more bad news on the economic front ... for the program to support financial markets that supply consumer credit in such areas as credit card debt, auto loans and student loans. he said, "with a stronger capital base, our banks [more...]

Date: 2008-11-13 04:27:10

You Can't Get There From Here

SEARCH BLOG: AUTOMOBILES Michigan Rep. Thaddeus McCotter comes across more like a logic professor than a U.S. Congressman ... Securities Loan Facility (TALF) may not include credit access relief for domestic auto dealers to purchase ... As our American auto industry’s working families continue to endure a painful and perilous restructuring [more...]

Date: 2009-02-26 16:12:00

U.S. to Invite The Wealthy To Invest in The Bailout

Nation: It sounds like a nice deal but after beating up on the wealthy for political gain, you would be a little wary ... , such as credit cards and student and auto loans. The program, which could involve the government ... of the credit markets: hedge funds and private-equity firms. The initiative to revive the consumer [more...]

Date: 2009-03-06 06:26:00

Cramdown on TALF

Yesterday, Federal Reserve Chairman Ben Bernanke outlined more details of the government’s long-promised “TALF” (Term Asset-backed securities Loan Facility) program designed to resuscitate the securitization ... of credit in our economy is provided through securitizations. Mortgages, credit cards, auto and student [more...]

Date: 2009-03-04 18:12:44

T3leads Review - A Unique Affiliate Network with Big Money Claims

New affiliate networks seem to pop up everyday and it can be quite a chore determining which ones are actually worthwhile ... lucrative niches online. Categories in the system include credit cards, auto insurance, payday loans, debt relief, home improvement, home loans, debt settlement, and credit repair. There are public [more...]

Date: 2008-08-20 22:21:15

It's Time to Break up the Big Banks

Mike Whitney Timothy Geithner is putting the finishing touches on a plan that will dump $1 trillion of toxic assets onto the US taxpayer ... up to $1 trillion of financing for buyers of new securities backed by credit card, auto and small business loans ... , we are creating a new lending fund that represents the largest effort ever to help provide auto [more...]

Date: 2009-02-27 02:30:11

Bernanke consumer plan = selling sand to Saudi Arabia

My latest rant from BlownMortgage How deaf is Ben Bernanke? ... at boosting the availability of credit to consumers and small businesses .” While I hope ... comprised of auto loans, student loans, credit card debt, home loans, etc. The idea being that investors [more...]

Date: 2009-03-03 19:35:41

XBRL Could Have Averted Much of the Current Economic Mess by Gerald Trites As we all know by now, ... obligations (CDOs), which are "mortgage-backed securities blended with other assets—say, auto loans or credit card debt—into one asset-backed pie, sliced up according to risk and sold as an investment [more...]

Date: 2009-02-26 12:45:58

$4.2 TRILLION Obama expects your children and grandchildren to pay for... so you don't have to.

These 2 charts are compilations of Obama's own numbers and statements and the assessments thereof from the Urban-Brookings Tax Policy Center (TPC) ... :ReynoldsExpand Earned Inc Tax Credit-5 Billion-46 BillionTbl4:ReynoldsSaver Credit, Auto-Saving-21 Billion-203 ... Billion100 BillionTbl1: ReynoldsPatch AMT-106 Billion-1.06 TRILLIONR&E Tax Credit Perma [more...]

Date: 2008-11-01 18:11:43

Hope And Change: Jobless Rate Hits 8.1%, Highest Point Since 1983

650,000 jobs lost according to the latest report . The nation’s unemployment rate rose to 8 ... consumer lending, such as credit cards and student and auto loans. The program, which could involve ... the collapse of the credit markets: hedge funds and private-equity firms. The initiative to revive [more...]

Date: 2009-03-06 19:13:07

THAILAND: Credit crunch hits auto workers (just-auto)

This article is locked. You need to be a Full Member of just-auto to view this article. Existing users, please login at the top of the page. Summary: About 5,000 workers have been recently laid off [more...]

Date: 2009-02-27 01:18:49

Friday morning links

TOP STORIES Policy makers scramble for answers - MarketWatch Fearful investors dump stocks, ... sales plummet: SpendingPulse - Reuters The Auto Credit Crisis: It's Real - BusinessWeek HOUSING Nearly ... on G7 leaders - Guardian Russia Approves Loan Plan to Ease Credit Crunch - NY Times INTERESTING [more...]

Date: 2008-10-10 12:58:00

OfficeMax Stainless Steel Look Shredder

OfficeMax.com has the OfficeMax Stainless Steel Look Shredder for $40 after $50 instant discount, ... with an 8" paper entry, Safely shreds credit cards with Reverse, Auto Stop/Start, and Auto Shut Off [more...]

Date: 2009-03-08 23:02:37

Are Two Products More Credible Than One?

After my initial post on blog-ified and geographically falsified landing pages , ... , I can see if the combination really works before having to buy. And then the auto-renewal on your credit card snags ya. P.S. As a follow up to the Jenny Perfect Skin article, Grok reader Steve Chase [more...]

Date: 2009-03-10 11:51:11

Credit Spreads and How Lax Is Monetary Policy?

All eyes have been on the housing market as the trigger for the financial crisis, but we're all aware that there are other potential "triggers" for additional distress: auto loans and credit cards. In addition, spreads are not everything -- levels of real interest rates matter as well. Let's start with credit spreads. Here [more...]

Date: 2008-10-16 06:18:10

Credit Card Delinquency Rates up 11 Percent From Previous Quarter

TransUnion.com has released the results of its analysis of trends in the credit card lending industry for the fourth quarter of 2008 ... on credit card, auto loan and mortgage data that may be found on TransUnion's Web site. Information for this analysis is culled quarterly from approximately 27 million anonymous, individual credit [more...]

Date: 2009-03-09 12:34:46

FINALLY--AS ALL ELSE FAILS--THE EXTORTION OF AMERICA

U.S. to Invite The Wealthy To Invest in The Bailout By David Cho Washington Post Staff Writer Friday, March 6, 2009; ... lending business, outlined by officials this week, offers these wealthy investors a new chance to make ... lending, such as credit cards and student and auto loans. The program, which could involve [more...]

Date: 2009-03-06 11:21:08

money matters

photo from Google images I switched insurance companies today, for my homeowner's and auto policies ... them if they could match it. Any guilt I'd felt evaporated when I got their response. For the auto ... , and gave them credit card information for the premium, at which time I was faxed a temporary ID [more...]

Date: 2009-02-26 07:18:00

Financial Forecast for 2009, Considering Resource Limitations

In this post, I consider some major issues contributing to our current financial problems, before making a financial forecast for 2009. These are 1 ... from the bottom: Layer 1. Household Debt (Mortgages, auto loans, credit card debt, student loans ... from ordinary citizens support the businesses and governments that have loans higher up on the "tower [more...]

Date: 2009-01-06 15:10:32

Obama Remains Popular. His Policies ? Not So Much

The latest Newsweek poll contains both good news and warnings for President Obama: Despite the tumbling economy, ... , according to the first NEWSWEEK Poll taken since Obama assumed office. “People give Obama credit ... and domestic auto companies facing bankruptcy. A somewhat surprising majority (56 percent) supports [more...]

Date: 2009-03-07 18:00:37

Sector Review (pfblogs.org)

XLF - Financials XHB - Home BuildersSMH - SemisRTH - Retail The markets continue to gain but at a slower rate ... too bullish. We will correct into the election on a bunch of fears from Israel, Oil, Credit Cards, Auto Loans, Banks and the elections. We may or may not take out the lows but during that bottom [more...]

Date: 2008-08-15 14:16:01

GMAC limits loans to buyers with 700+ FICO rating

Filed under: Car Buying, GMIf you're in the market for a new car, you'd better get your credit score in order first ... some sales, but according to credit information services company Experian, 74.3% of all auto loans went ... . Auto lending units are looking for top tier customers right now, and GM's captive credit arm [more...]

Date: 2008-10-14 12:52:03

Campaign Updates and Media Headlines 10/1/08

Now THAT’s bipartisanship: New York Times (click through to see the map and the roll call list) ... to mention that bad debts are growing even among people recently considered good credit risks. At end ... at end of June. We’re also seeing a growing amount of credit card and auto payments past due [more...]

Date: 2008-10-01 19:58:22

Ctrl BG: A Shortcut to Financial News 11/29

Hope everyone is having a great Thanksgiving weekend and got some great bargains yesterday! ... facility to support consumer finance, including student, auto, and credit card loans and loans backed ... consumers get home, car and credit card loans easier. I haven't figured out all the implications [more...]

Date: 2008-11-29 14:40:00

Bailout Watch 276: Midwest Credit Unions Offer $10b Worth of Loans for GM Cars (fine print below)

End of Days’ Sale, I guess. Seriously, there is some strange shit going down in the autoblogosphere today. Automotive News ... pegs my WTF meter with “Midwest credit unions pledge $10 billion in auto loans to help GM.” According to AN, here’s the deal. “A group of credit unions from Michigan, Ohio, Indiana and Illinois ... [more...]

Date: 2008-12-10 16:45:52

Auto Suppliers’ Solvency: A Politician Who “Gets It”

Obama’s auto industry task force met with GM, Chrysler and the UAW in Detroit yesterday as they wind down their fact finding process and solidify ... made a solid, factual case for helping the auto industry weather the short-term credit crunch in order ... government plans. They likely heard an passionate, urgent pitch from auto execs and union reps [more...]

Date: 2009-03-10 05:15:40

William Poole says stop the bailouts

The former president of the Federal Reserve Bank of St ... of major financial firms. These insolvencies, and especially fear of them, damaged normal credit ... from banks to auto makers will also delay recovery. And misguided efforts to help distressed homeowners [more...]

Date: 2009-03-05 11:47:00

January Consumer Borrowing Rises

From The International Herald Tribune: Borrowing in U.S. rises unexpectedly The Associated Press Friday, March 6, 2009 WASHINGTON: U.S ... of $5 billion. The small gain came mainly from the category that includes credit cards, which rose ... auto loans rose 0.6 percent after a smaller 0.1 percent rise in December. The increases were [more...]

Date: 2009-03-07 19:51:39

Acronyms to watch for: Roubini supports Hillary's HOLC, not RTC/RFC solutions to financial crisis

Here’s a litmus test for whatever Congress comes up with as they huddle with the finance boiz over the weekend: HOLC good, RTC/RFC bad. I may not understand this class warfare finance stuff, but I can sure quote people ... , credit cards, auto loans and student loans) while their assets (values of their homes and stocks [more...]

Date: 2008-09-20 19:22:53

Makers of Crap Sandwich Now Pitching It With 10-Percent More Corn

The big three automakers are back in Washington, trying to convince Congress to give them your hard-earned money so they can keep afloat businesses ... under the weight of an economic meltdown, the worst auto sales in decades and a tight credit market ... refinance their companies' debt, cut executive pay, seek concessions from workers and find other [more...]

Date: 2008-12-02 12:57:12

New Oakland Toyota/Scion megadealer closes after two months

Filed under: Trends , Hirings/Firings/Layoffs , Earnings/Financials Just two months after opening the doors to its brand-new, 200, ... Toyota and Scion products, Nissan provided the loan for the new $36 million building). Without credit, the Superior Auto Group dealership was unable to do business. "I can't buy any more cars. Can't [more...]

Date: 2009-03-01 14:01:00

How would you “stimulate” the economy?

As much as I’ve tried not to watch the news any more than I have to, ... of dollars, which was at that time the largest single charges against the federal credit card ... , the auto industry asking for more money, mortgage bailouts, and STILL the Omnibus for 2009-10 [more...]

Date: 2009-03-07 17:40:51

U.S. to Invite The Wealthy To Invest in The Bailout

side note: This is incredible and I’m wondering if this will even be a big story today…. ... lending business, outlined by officials this week, offers these wealthy investors a new chance ... lending, such as credit cards and student and auto loans. The program, which could involve [more...]

Date: 2009-03-06 15:16:09

Why Paulson and Bernanke are only Partly Correct, and Why Main Street Needs More Direct Help

But will it work? Here's Paulson's and Bernanke's logic, made explicit at the Senate hearing today: ... . And once credit flows again, even Main Street can breath a sigh of relief. P&B failed to mention that bad ... also seeing a growing amount of credit card and auto payments past due. The culprit isn’t just those [more...]

Date: 2008-09-23 14:49:00

I Hate Banks

I knew it was going to be too easy. Seems that instead of withdrawing the balance of my auto loan from my account, Texans Credit Union decided to withdraw the previous full payment amount. Then, when I called them ... overage goes into my TCU savings account that was created to hold the dividends from my auto loan [more...]

Date: 2009-02-26 19:53:45

The US economy is in a funk

The US economy is in a funk By Peter Morici Troubles at United States banks are making mortgage, ... , questionable auto loans and lax credit-card rules. In the housing market, mortgage companies were aided ... credit card and business loans scarcer and more expensive. Falling home prices, rising [more...]

Date: 2008-08-22 12:12:06

The Light Dawns

Oh look, the very important and knowledgeable secretary of the Treasury seems to be coming around to the argument posed by Dirty F*cking Hippies for ... with cash, but would also try to increase the availability of student loans, auto loans and credit [more...]

Date: 2008-11-13 14:30:56

Scary Words from Bernanke

This morning's Wall Street Journal quotes a 1999 paper by Ben Bernanke as follows: Roosevelt's specific actions were, I think, ... to backstop the asset-backed securities market, which finances auto, credit-card and student loans [more...]

Date: 2008-12-15 15:36:39

Some Good News For A Change

As lousy as the economy is, and probably will be for at least this year, there still is a little bit of good news, ... for home energy-efficiency upgrades and an extension of a tax credit for renewable energy ... if the auto industry completely fails, at least not for an appreciable period of time. Those numbers [more...]

Date: 2009-03-07 11:30:00

How the Government Can Fix the Credit Crisis

Three slight adjustments is all it will take ... and it won't cost a penny ... into overdrive. Congress passes new legislation every week that either bails out auto companies ... , and help alleviate the credit crisis without spending a penny. First, they need to bring back the “uptick [more...]

Date: 2009-03-01 08:00:27

Free FICO Score At Equifax (No Strings)

Written on 10/02/2008 by me, Jay White, the founder of Dumb Little Man and an all around average guy ... . As you may know, Equifax is one of the 3-primary credit bureaus in the US and its score is used heavily as a risk criteria anytime you apply for a personal loan, credit card, or auto loan [more...]

Date: 2008-10-02 12:12:54

We don't need no stinking handouts: Honda doing well in downturn

Filed under: Car Buying, HondaWhile most automakers have been struggling to sale their wares in the struggling US auto market, ... average credit. Mendel says he has no problem with the $25 billion in loans sought by US automakers [more...]

Date: 2008-09-18 23:45:56

Banks trim sales force as credit growth slows down

A clampdown on fresh personal loans, credit cards and auto loans is taking a toll on direct selling agents hired by banks to push these products. According to estimates, banks have reduced the number [more...]

Date: 2008-08-19 05:58:10

GM Could Go to Zero, Chrysler Even More Likely. Ahh... So We Do Have a Non-Govt Mechanism for Restructuring Companies

Yes we know. We could have been more succinct with our title. Nevertheless, one of the top US business stories yesterday involved a Credit Suisse analyst ... for a government auto bailout as if its the only choice. Shareholders get wiped out, as they deserve [more...]

Date: 2008-12-23 05:49:55

Eco-Car Credit Crisis - Green Auto Companies Head Into Survival Mode (GALLERY)

(TrendHunter.com) The building and developing of electric/hybrid cars is coming to a screeching halt. GM announced they are closing the plant that makes the motor for their electric car, the Chevy Volt. Tesla Motors, another… [more...]

Date: 2008-12-18 22:19:50

Obama’s shaky claims before Congress

by LarynIf I were president I’d make damn sure every claim I made in an address before a joint session of Congress was verifiable ... has many people contributing to the “invention” of the product. The heart of the auto is the engine ... . It’s all about credit abuse - a topic about which Obama now has no room to talk, thanks [more...]

Date: 2009-02-26 04:26:29

Lessons Learned from the Economic Meltdown - 5 Personal Stories

This post is result of my curiosity about what is happening as a result of the economic meltdown. Yes, we hear a lot about it on the news, but that’s all about big banks, auto companies, and bail ... is the credit meltdown having on normal people. So I asked 5 strangers to write down [more...]

Date: 2009-03-02 12:19:12

Geithner 1.0: Beware the TALF

After months of analysis, Tim Geithner has a plan. Is it any good? ... (TALF) to include assets beyond the student-loan, auto-loan and credit-card debt it was set ... the consumer-loan market by providing financing for investors to buy securities backed [more...]

Date: 2009-02-09 15:42:50

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