Bad Credit Loans

Political reality has forced compromise into the final version of the financial regulation reform bill in the US It was billed by Barack Obama as the toughest crackdown on Wall Street since the great depression. But top US banks could be given until 2022 to comply with the so-called Volcker rule, which is supposed to restrict [...]

Calls to cut social security come from economists who want to line Wall Street pockets with money from ordinary workers When politicians demand that the public do something because of the dictates of financial markets, it is best to hold on to your wallet. Back in September of 2008, both President Bush and the Democratic leadership [...]

Rebound in Wall Street trading contributes to US bank’s recovery Just 18 months after teetering on the brink of collapse, the US bank Citigroup has regained robust financial health as a leap in income from Wall Street trading contributed to a first-quarter profit of $4.4bn. Citigroup, one of the worst hit players in the financial crisis, revealed [...]

Wall Street bank reporting season off to a strong start despite JP Morgan setting aside $7bn to cover bad loans to consumers JP Morgan got the US bank reporting season off to a bullish start today by reporting a profit of $3.33bn (£2.16bn) for the first three months of 2010, smashing analysts’ expectations. Despite setting aside $7bn [...]

Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is [...]

‘Twas the night before bonus season, when all through the White House many an adviser was stirring with the fierce urgency of acting now. Later today JP Morgan will be the first big Wall Street bank to announce exactly how much its masters of the universe will receive in bonuses for simply doing their jobs. No [...]

Very telling little story out of Detroit this morning. The Detroit Auto Show is taking place right now, and a Michigan branch of the tea party movement was putting together a demonstrate outside the venue to protest government aid to the auto industry. Two people showed up. It turned out that other conservative Michiganders opposed the [...]

• Troubled US bank botched $20.5bn fundraising• US treasury would have made a loss on sale of shares Confidence in the ability of Citigroup to weather the financial crisis plummeted today after the troubled US bank botched a $20.5bn (£12.5bn) fundraising intended to pave the way for repayment of billions of dollars in emergency support from [...]

Moves comes day after Barack Obama accused Wall Street institutions of handing back funds simply in order to escape curbs on multimillion dollar bonus payouts Citigroup has been given the go-ahead by the US treasury to repay its $20bn (£12.3bn) of government bailout money, a day after President Barack Obama accused Wall Street institutions of handing [...]

The wizards of Wall Street are finally admitting they were wrong. But we can’t trust that they have learned their lesson It was a startling admission from one of the architects of the modern financial system. John Reed, who with Sandy Weill created Citigroup, said the merger was a mistake. What’s more, Reed went on to [...]