Word: lender
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...home loan could be a bad home loan. "What we did and what we started was not just to push banks to make marginal loans, but to give them an excuse and to give them regulatory cover," he said. "Countrywide became HUD's poster child for what a good lender was like...
...bumper insurance scheme that will permit banks to buy cover against losses on bad loans in the hopes that this will encourage banks to start lending to Britain's cash-strapped companies and consumers. Also announced: a $74 billion scheme allowing the Bank of England - Britain's lender of last resort - to buy high-quality assets directly from financial institutions as well as other companies. An existing $370 billion plan granting a government guarantee on bonds issued by banks, earmarked to close in April, was extended to the end of 2009. And Northern Rock, the mortgage bank crippled...
...government's insurance scheme will play a key role in efforts to prevent that. Under the plan, scheduled to run for at least five years, banks will pay a fee to the government for taking out a policy. Lenders will also shoulder a "first loss" amount - similar to the excess on an auto insurance policy - as well as roughly 10% of the remaining losses. In return for picking up the rest, the government will require banks to sign agreements binding them to increased rates of lending. Just how much risk that exposes the U.K. government to is unclear; the level...
...capability. The timing could hardly have been worse: the bank announced on Monday that its losses for 2008 could be as high as $41 billion - by some stretch the biggest loss in British corporate history. Much of that loss is due to RBS's ill-timed acquisition of Dutch lender ABN Amro in 2007. "Yes, I'm angry at RBS and what happened," Brown conceded. But, he added, "We have to recognize anger is not enough...
...likes of payday loans and pawnshops for financing. Profit has long eluded U.S. microfinanciers. "If it's not profitable, it's not microlending - it's charity," Yunus said on a recent trip to the U.S. The question, then, is whether there is a role for a Third World lender in the world's largest economy...