Bad Credit Loans

General Motors’ flotation plans will be heralded as a triumph for Barack Obama if they prove successful General Motors is expected to publish details of its flotation plans this week, shortly after America’s largest carmaker, which was last summer rescued from financial collapse by the Obama administration, revealed that it had returned to profit. In a [...]

• Revitalised carmaker anticipates raising up to $15bn• GM’s move should bolster Obama in congressional elections General Motors is gearing up for one of the biggest stock market flotations in US corporate history barely a year after emerging from bankruptcy. It hopes to raise $10bn to $15bn (£6bn to £10bn) and start to pay back government [...]

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 [...]

Inquiry into bid to find whether banks cheated in hunt for high credit ratings includes Citigroup, Goldman Sachs, Merrill Lynch and Morgan Stanley An allegedly “cosy” relationship between top Wall Street banks and credit rating agencies is under investigation by New York’s attorney general, who has issued a flurry of subpoenas to examine whether leading financial [...]

Banks investigated via subpoenas include Citigroup, Goldman Sachs, Merrill Lynch and Morgan Stanley over inflated mortgage grades and misleading ratings agencies The New York attorney general is investigating whether eight Wall Street banks misled ratings agencies to inflate the grades of certain mortgage securities. The attorney general of New York, Andrew Cuomo, sent subpoenas to eight banks [...]

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 [...]

• JP Morgan expects first quarter profits of $2.9bn• Goldman Sachs and Morgan Stanley anticipate solid figures Arguably the star performer to emerge from the financial crisis, JP Morgan is set to kick off the US banking industry’s earnings season today with a first quarter profit expected to be about $2.9bn (£1.8bn). Although a sharp increase [...]

• 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 megabanks could be split up – or might turn into footloose investment banks again More details please. On Thursday ­President Obama declared war on Wall Street – but what would ­victory look like? On day one, it seemed as if a break-up of JP Morgan, Morgan Stanley, Bank of America, Citigroup and Goldman Sachs [...]

Barack Obama’s proposal to curb Wall Street’s big banks could end up damaging the US economy – and the presidency For someone who has just had been honoured by the president, having had the latest bank-busting reform named after him, Paul Adolph Volcker looks as sad as Droopy Dog. Maybe he’s still long of the banks, [...]