business - "credit"

What will the credit crisis look like on its second anniversary? BW colleague Will Andrews offers his tongue-in-cheek predictions:After another orgy of writedowns and a Niagara of red ink among U.S. financial firms (in which Lehman Brothers (LEH) accidentally wrote down the same assets twice), Fed chairman Ben Bernanke executed one final bold plan to shore up the U.S. banking system. The Fed chief arranged for the consolidation of the remaining big U.S. financial firms into two new entities: GoldmanBofAMerrillCiti and JPMorganStanleyBrothers. Under terms of the deals, which were consummated at a weekend swap meet in Pavonia, N.J., Goldman (GS) and JPMorgan were the nominal acquirers of the other firms, but it was the Fed that provided the financial muscle. The central bank opened its (that is to say, your) pocketbook to the tune of $200 billion in YYMAPTB (Yes, You Must Absolutely Pay This Back) and STTWBOTH (Seriously, the Taxpayer Won't Be on the Hook) term facilities. OK, I wo

Assured Guaranty, a provider of financial guaranty and credit enhancement products, has reported a second quarter 2008 net income of $545.2 million, or $5.97 per diluted share, an increase from a net income of $32.8 million, or $0.47 per diluted share for the second quarter of 2007.

Five credit unions are reporting paper losses on mortgage-related securities large enough to wipe out their net worth. While the losses could be reversed if markets stabilize, it is a sign housing-market distress is spreading to risk- averse financial sectors.

"Business leaders are increasingly finding that they're at the sharp end of the credit crunch and need to take stock of how they run their organisations in order to get the best from their employees,"...

Elizabeth Leamy: To beat your credit card addiction, cut the plastic.

The event will be held at Arrowhead credit Union Park in San Bernardino and is intended to raise funds for the party and its candidates and clubs throughout the county. Arrowhead credit Union Park is at 280 S...

(Reuters) - Fannie Mae's credit losses will exceed the company's expectations, continuing to put pressure on its capital levels and earnings, an analyst at Friedman Billings Ramsey said.

Five of North America's largest credit unions are reporting big paper losses on mortgage-related securities, a sign that housing-market distress is spreading even to the most risk-averse financial sectors, the wall street Journal (WSJ) said on Monday.

The dollar's sharp rally last week has prompted some investors to say its seven-year slide may be over, as the focus shifts from U.S. economic woes to the spread elsewhere of the slowdown inspired by the credit crunch....

Retail gasoline prices fell on average almost a penny overnight, extending declines for the 24th straight day, a survey of gas station credit card swipes showed Sunday.