Word: creditation
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...Unfortunately, there is precious little data on what sorts of changes to mortgages do have the best shot of keeping borrowers in their homes in the long run. The most quoted research on the topic, from the investment bank Credit Suisse, shows - unsurprisingly - that when modifications involve lower monthly payments, borrowers have much more of a fighting chance. One report, looking at modifications made to a pool of sub-prime loans, found that 44% of loans with increased monthly payments were more than 60 days delinquent within eight months. After that same period, only 15% of loans that had received...
...wanting to be left out, then posted a harsh warning about the condition of the global credit and financial systems, According to Reuters, "The International Monetary Fund warned of a more severe economic downturn unless governments move aggressively to fix the financial system by removing troubled assets from banks' books." Since many policy makers believe that moving toxic financial assets into "bad banks" is not a solution to the build-up of bad paper on financial firms' balance sheets, the IMF's suggestion may go unheeded...
Privacy in our society is clearly diminishing: We carry devices everywhere we go so that people can reach us, the credit cards we use let any corporation view our purchases, and the Internet has allowed an unprecedented level of information to be publicly available. While this trend can be troubling, simple-minded reactions are not warranted. Unfortunately, this is exactly what happened in the Cambridge City Council on Wednesday when, following protests from many fearful and disgruntled citizens, the body voted to keep surveillance cameras already installed in the city turned off, citing their possible contribution to the erosion...
...Treasury Department, in its panic over the collapse of banks on Wall Street, rushed to get TARP out the door - no doubt about it. The government didn't require banks to keep track of the money, report how they were spending it or loan it out to free up credit markets. But it's not all bad news. The fact that the special inspector general's office exists is an important sign that the Treasury Department realized the limits of its abilities. Recent and future TARP outlays have a whole new set of stringent reporting requirements. The inspector general...
...funds disbursed to banks to motivate them to extend credit to borrowers and communities: "There was no requirement for recipients to monitor their use of the funds, and it has been widely reported that banks have been "hoarding" the money, acquiring other banks, and paying off debt. Treasury has recently begun to establish periodic reporting guidelines for certain TARP recipients...