Word: loans
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Dates: during 2000-2009
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...rates is also a challenge to bank earnings and balance sheets. If the government could have kept hundreds of thousand of mortgage holders in their houses, banks would keep at least some of the income for the properties. Those same banks now face large write-offs on their home loan portfolios which may make the recovery of the financial services industry even more difficult than it already...
...Last week the Treasury Department provided Chrysler $4.1 billion in debtor-in-possession financing to help it get through bankruptcy, bringing the total amount of federal 'loans' to Chrysler to more than $8.2 billion. GM, meanwhile, has received $15.4 billion from the Troubled Asset Relief Program and its total loan request could top $27 billion before the company completes its restructuring, a GM spokesman says. Even that figure assumes that GM's cash burn, which was running more than $3 billion per month in the first quarter, begins to slow later in the year. If the recession deepens, GM could...
...addition, several automakers, among them Ford Motor Co., Volkswagen, Nissan, Honda and Mitsubishi, have applied for assistance under the Federal Reserve Board's Term Asset-Backed Securities Loan Facility or TALF. The TALF, which was set up last fall, was designed to subsidize the sale of asset-backed securities, a critical source of funding for car loans, student loans and credit card receivables...
...Loans Peter Gumbel's "IMF 2.0" fully captures the sentiment and distrust of developing economies toward the IMF, and the negative impact on people's lives of corrupt and inept government officials' dealings with the IMF [April 20]. Certain governments in Africa took IMF loans on behalf of their people who then suffered the debt with neither accountability nor the hoped for development. Now the loan conditions are being relaxed, the IMF must ensure that loans do not get to corrupt governments anymore, and where they do, the loans must be accounted for with development projects and fiscal responsibility. Obinna...
...hard-headed pessimist who foresaw the financial crisis, wrote Tuesday in the Wall Street Journal that the overall positive message of the stress tests "would be good news if it were credible," but it's not. He points to the recent IMF report that estimated $2.7 trillion in U.S. loan and security losses, and his own estimate of $3.6 trillion for the same potential losses. "The financial system is currently near insolvency," he concluded. Bernanke disputes the numbers, saying banks have "taken significant write-downs, they have reserves and there are substantial earning capacities." But Roubini is not alone...