Word: bankses
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Huelle hadn't done anything wrong - she never missed a payment, and her credit score was unchanged - but tighter lending standards across the board meant the safety net she'd counted on for emergencies (a dog-dryer breakdown, say) was suddenly that much smaller. Now, as a precaution, she's...
Lenders are scrambling to keep delinquency and defaults in check. Some banks are extending repayment periods and converting credit-card debt into personal loans at slightly lower interest rates so borrowers can remain current. Under pressure from investors and regulators to improve their deteriorating asset quality, banks are also curtailing...
The two presidential nominees have cultivated reputations as change agents and truth tellers, but their tepid, hedged support for the emergency package didn't look reassuring either. Obama has taken a cautious and detached approach, articulating principles--transparency, oversight, limits on golden parachutes, protections for taxpayers and homeowners--but mostly...
Part of the problem was the lousy job Bush and Paulson did selling their plan to relieve banks of their toxic loans. They failed to brand it as an economic recovery plan instead of a bailout, a surprising mistake for an Administration renowned for giving initiatives perfumed names like Healthy...
Judging from tales about the rise and fall of empires, there is always a point when things are going so well that the emperors doubt that anything could ever go wrong. "THRIFT," warned Nero's adviser Seneca, "comes too late when you find it at the bottom of your purse...