Consumerist
money meltdown
Posts Tagged “
credit crunch
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money meltdown
credit cards
American Express Judges You Based On Who Holds Your Mortgage, Where You Shop
Has your credit limit been inexplicably lowered lately? Well, it might not be anything personal. The problem might be with your mortgage lender. Or where you've been shopping. Or where you live. American Express, long rumored to judge customers based on this criteria, has admitted that it evaluates who you do business with and where you live when determining how much credit to give you, says MSNBC. More »
dick fuld is punched
Lehman Brothers CEO Got Punched In The Face
Dick "It Wasn't My Fault" Fuld, the CEO of bankrupt investment bank Lehman Brothers, (seen here being heckled after testifying on Capitol Hill) was apparently punched in the face while working out in Lehman gym on the Sunday following the bankruptcy, according to CNBC's Vicki Ward. More »
money meltdown
What Is Commercial Paper And Why Is The Federal Reserve Suddenly Buying It?
The Federal Reserve today announced the creation of something called the Commercial Paper Funding Facility (CPFF), that will buy commercial paper directly from issuers. So, you're asking yourself, what is commercial paper? Why do I care that the Federal Reserve is buying it? More »
wall street meltdown
10 Things To Expect From The New Post-Apocalyptic Economy
Kiplinger's has put together a list of 10 things that you, fair consumer, can expect from our new post-wall-street-apocalypse economy. Should you be scared? Maybe. More »
credit crunch
American Express Randomly Cut My Credit Limit From $25,000 to $1,800
Reader Pierre is a small business owner who has an American Express Business Account that used to have a $25,000 limit, but has now been cut to $1,800. He says his company's bill is usually around $12,000 a month, and it is always paid in full — on time. While Pierre is clearly upset with American Express, the Wall Street Journal says that all banks are cutting access to credit. More »
money
The housing crisis. The stock market plunge. The banking industry in shambles. What's a person to do in the midst of all this financial turmoil? We thought we'd offer our suggestions for making it through the rough waters many of us are facing:
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What To Do In These Uncertain Financial Times
The housing crisis. The stock market plunge. The banking industry in shambles. What's a person to do in the midst of all this financial turmoil? We thought we'd offer our suggestions for making it through the rough waters many of us are facing:
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We're not the only ones with a credit crunch. HBOS, Britain's biggest mortgage lender, is going under.
IN THE rolling credit crisis, more than £46 billion of the bank's shareholder value has evaporated into thin air. The collapse has hit pension funds, wiped out the nest-eggs of many investors – and added to the misery of staff, many of whom had built up substantial holdings of HBOS shares.The bank is going to be rescued by a merger with another UK bank, Lloyds TSB. [Scotsman & MarketWatch] MORE »
credit crunch
Is Lehman About To Die?
UPDATE: Lehman Files For Chapter 11, BoA Buys Merril Lynch
Wall Street is preparing for one of the largest bankruptcies in U.S. history as it becomes apparent that nobody wants to buy Lehman Brothers. Government officials are keeping the public's overextended credit card sheathed as they race to keep the fourth-largest U.S. investment bank from failing before the start of trading tomorrow.
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Now that the magic accounting party is over, Fannie Mae and Freddie Mac are to be removed from the S&P 500 starting Wednesday. The minimum market cap a company needs to be allowed in the index is 5 billion. Freddie's market cap is $614 million and Fannie's $1.04 billion. [AP]
