Tag Archives: short term loans

Bailing Out Russia’s Richest Man

From the WSJ: People close to the situation said that on Tuesday Russia allowed Alfa Group, a conglomerate controlled by businessman Mikhail Fridman, to tap its $50 billion rescue fund to pay back a $2 billion loan to a group … Continue reading

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What is the Money Market and Why Does It Freeze?

Source: This whole downward spiral seemed to start with U.S. subprime mortgages. What exactly are they?Subprime mortgages are home loans made to people who would not, under normal circumstances, be ideal candidates to get a mortgage – thus they are … Continue reading

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Mortgage Definitions

From the New York Times: HOME EQUITY LINE OF CREDIT (HELOC): A line of credit secured by a home. Borrowers can draw on it for a fixed period set by the lender, usually five to 10 years. LEVERAGE: Using borrowed … Continue reading

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The Market For Short-Term Loans

NEW YORK (CNNMoney.com) — The Federal Reserve announced a new program to help the battered market for short-term business loans – taking its closest step yet to lending directly to businesses. The program addresses commercial paper, a form of short-term … Continue reading

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What The Credit Crisis Means To Regular Folks

From the WSJ: When the credit markets falter, the economic impact can be quite swift and severe. Credit-card interest rates have jumped. Credit markets essentially run on confidence. Like an engine with no oil, the credit markets are seizing up. … Continue reading

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Understanding Important Financial Lingo

NEW YORK (Associated Press) – A number of financial terms have become a part of the daily conversation as the worst financial crisis in decades has deepened, affecting companies, industries and ordinary people. A slowdown that began in the real … Continue reading

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Bailout Not Enough To Save Wall Street

From the AP: As markets around the world tumbled amid fast-spreading anxiety, officials in Washington worked quickly to put the new financial plan into effect and to shovel more money into the banking system. Bush sought to reassure panicking markets. … Continue reading

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Memo To Mainstream Media

If you want to constantly attack payday loans, then abandon any pretense to journalistic objectivity. The articles recently published about this matter, all of them vilifying the practice of payday lending, fail even the most basic standards of decent reporting. … Continue reading

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Fed Cuts Rates, But 30-Year Mortgages Rise

From the Boston Globe: The Federal Reserve keeps cutting interest rates, but interest rates on mortgage loans aren’t falling. Just the opposite. The chart above, from the front page of today’s Globe, shows the pattern nicely. The basic reason is … Continue reading

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