Bad Credit Loans

• Former chief Dick Fuld and accountants Ernst & Young criticised in 2,200-page report• Claims that buyer Barclays received assets it was not entitled to• Fuld tried to involve Gordon Brown to fast-track Barclays rescue A court-appointed US bankruptcy examiner has concluded that there are grounds for legal claims against top Lehman Brothers bosses and auditor [...]

It’s simple: China is soon going to revalue its currency against the US dollar. Or it isn’t. It just depends who you ask Both these articles were published on Saturday. Which is right? Take your pick: New York Times, 6 March 2010China’s central bank governor indicated Saturday that the government was unlikely to detach the value of [...]

Anti-tax revolts have led to a huge gap between well-resourced schools for the wealthy and starved-for-cash schools for the poor Over the next two weeks, more than 5,000 Los Angeles school employees – teachers and other personnel – will receive lay-off notices informing them that they might not have jobs come the start of the next [...]

• Huge payouts will be a ‘bitter pill’ for many• Investment banks on track to make $55bn profit for 2009 Total Wall Street bonuses since 1985 (pdf) Despite calls for restraint in multi-million dollar pay packages, Wall Street bonuses jumped by 17% to $20.3bn (£13bn) for 2009 as America’s financial services industry rebounded swiftly from the credit [...]

The president is trying to please everyone, but he needs to take tough action to prevent the US economy’s second freefall Defeat in the Massachusetts senatorial election has deprived US Democrats of the 60 votes needed to pass healthcare reform and other legislation, and it has changed American politics – at least for the moment. But [...]

Paul Volcker’s bank reforms are exactly what America requires, argues one of its most powerful investors Jeremy Grantham, founder of big US fund manager GMO, is one of the world’s most influential investors – and also one of the slickest commentators on financial matters. His quarterly dispatches are always a treat. The latest deserves to be read [...]

Good morning, everybody. I just had a very productive meeting with two members of my Economic Recovery Advisory Board, Paul Volcker, who’s the former chair of the Federal Reserve Board, and Bill Donaldson, previously the head of the SEC. And I deeply appreciate the counsel of these two leaders and the board that they’ve offered as [...]

Following the testimony of clueless bankers at hearings in the US, we must stop listening to financiers about financial reform The official Financial Crisis Inquiry Commission the group that aims to hold a modern version of the Pecora hearings of the 1930s, whose investigations set the stage for New Deal bank regulation began taking testimony on [...]

President to unveil levy on banks in bid to claw back some of the $700bn injected into the sector during financial crisis Barack Obama will announce plans today to impose a levy on Wall Street banks to cover some of the cost of bailing them out during the financial crisis. The new charge, likely to enrage America’s [...]

Chief executives accept some activities were ‘improper’ in testimony to commission, but remain defiant over pay Leading Wall Street bankers admitted today that they underestimated the severity of the financial crisis and apologised for making mistakes as a US government commission began its inquiry into the root causes of the banking meltdown. In a dramatic hearing, the [...]