Word: lender
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...also more lenient than many state regulations already in place. The federal intervention could weaken current state laws and undo the accomplishments of New York State Attorney General Andrew M. Cuomo in convincing dozens of universities and lending corporations to agree upon a more stringent code of conduct in lender negotiations...
...could that passion for real estate also drag the nation down? After trebling in the decade to last October, the average U.K. house price fell for the sixth straight month in April, according to Nationwide, a British residential lender. At $354,000, that price is 1% lower than it was a year ago, marking the first annual fall since 1996. Banks, still nervous about lending to one another following the collapse of the U.S. subprime market, are being no less careful when it comes to their loan customers: tougher lending criteria and higher mortgage rates have discouraged British house hunters...
Amid the tide of red ink flowing from many of the world's largest banks these days, big profits seem out of fashion. On Tuesday alone, Deutsche Bank announced its first quarterly loss in five years, while HBOS, the U.K.'s biggest mortgage lender, said it would replenish its depleted coffers with an $8 billion share sale. Both firms announced billions of dollars of fresh write-downs...
Several big hedge funds had already been driven out of business by such lender squeezes, starting last summer with two mortgage funds run by Bear Stearns. But Bear itself still turned a small profit in 2007. As late as the first week of March this year, there was no reason to think it was in imminent danger. Then rumors began flying that it was. Lenders refused to lend, clients refused to trade, and suddenly Bear was out of money. It was a bank run, more or less. And the scary thing was that there is no entirely satisfactory explanation...
...LENDER...