Word: lenders
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...addition to spending more on education, Obama’s budget proposes to make student loans available directly from the federal government—rather than government-sponsored private intermediaries. Considering the scandal that has riddled this $85-billion-a-year industry, it makes sense for an uninterested lender like the federal government to help out college students...
...confidence in the financial community remains low. Describing a vicious cycle of risk aversion, former Fed chief and current Obama adviser Paul Volcker told Congress's joint economic committee on Thursday that "an insecure bank faced with what it sees as insecure borrowers is not a very eager lender. It's a problem of lack of good borrowers, confident borrowers, as well as weak banks and worried bankers." Testifying before the House Committee on Financial Services, James K. Galbraith, an economist at the University of Texas at Austin, was more blunt about the government's capital infusions: "Stuffing the banks...
...company's role as an intermediary makes it an attractive investment. Over the last month the DJIA average was down slightly while Visa shares were up 32%. In the last quarter, Visa's profits rose 35%. Loaning money is a bad business. Handling the transaction between borrower and lender for a fee is a good...
...will simply fall behind again. The relapse rate can be quite high, meaning that we'd be spending money only to delay the inevitable. Part of what drives up the redefault rate, though, are changes that don't lower, or may even increase, a borrower's monthly payments. A lender that re-amortizes missed payments over the life of the loan might see doing so as a compromise--but that doesn't mean the mortgage becomes more affordable. That's why the FDIC insists that modifications reduce payments at least 10% and take up no more than...
...forced the British government into a $55 billion bailout in October, saddling it with more than a trillion pounds (roughly $1.4 trillion) in liabilities. In a jam-packed committee room, the former bankers picked over their biggest mistakes. Shelling out some $15 billion for a chunk of rival Dutch lender ABN Amro in mid-2007 - when all the signs were pointing to a testing time for banks - was "a big mistake," Tom McKillop, RBS's former chairman, told the committee...