Posted on May - 16 - 2010
What former Bundesbank President Karl-Otto Poehl actually told Der Spiegel on Friday was that the purpose of the bailout was to avoid losses “for German, but especially for French banks.” A watered-down account of Poehl’s interview appeared May 16 in the WSJ’s finance blog.
Der Spiegel interviewed Poehl on its main German-language site May 15. I translate:
Poehl would have preferred that Greece’s creditors take a loss on some of their claims. He does not belief that this step would have led to domino effects against another countries. In fact,
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Posted on May - 16 - 2010
If you use a credit card debt settlement service there will be a fluctuation in your credit score. This is not necessarily a bad thing. Everything that you do with your finances will automatically reflect on your credit report and in you score.
If you are behind on your credit card payments you are suffering damage to your credit score for everyday that the payment is late. You will also see a fluctuation in the score if you purchase a car or open a new credit account.
Hector Milla Editor of the “Get Rid Of Credit Card Debt” website — http://www.GetRidOfCreditCardDebts.net — pointed out;
“…By using a debt settlement company you will see a slight change in your score, but not a very large one and it will not remain that way for very long. The settlem Read more…
Posted on May - 16 - 2010
(This post is part of our series on tracking hedge fund portfolios. If you’re unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund filings.)
Next up in our coverage is the Oracle of Omaha himself, Warren Buffett. From his original Buffett Partnerships to present day Berkshire Hathaway (BRK.A), Warren Buffett has invested his way to the third richest person in the world according to Forbes’ billionaire list. He needs no introduction so let’s dive right into it. Our recent coverage of Buffett’s company includes some notes from Berkshire Hathaway’s annual meeting as well as Berkshire’s annual letter.
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Posted on May - 16 - 2010
After sifting through the rubble of the financial crisis of 2008-2009, Congress is spreading the blame liberally across various constituencies, including the almighty rating agencies (think of Moody’s (MCO), Standard & Poor’s (MHP), and Fitch). The Senate recently added a proposed amendment to the financial regulation bill that would establish a government appointed panel to select a designated credit rating agency for certain debt deals. The proposal is designed to remove the inherent conflict of interest of debt issuers – such as Goldman Sachs Group Inc. (GS),
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Posted on May - 16 - 2010
People may be placed in financial turmoil because banks are charging customers higher rates on lending.
This is despite the historically low base rate, according to Darren Cook, a spokesperson for Moneyfacts.
Mr Cook said that there is no direct association between the rate provided by the Bank of England and the amount individuals actually end up paying.
Regarding unsecured loans and credit cards, he commented: “When the basic economic situation is unsettled there is a much higher probability of default and unfortunately that is passed onto the consumer.”
The specialist was speaking in regard to new research disclosed by Moneyfacts that showed overdraft rates to have reached their highest level in a decade.
He added that customers should shop around before choosing a bank as there are substantial differences between rates.
Figures released by Defaqto show that the average rate of an unsecured loan has risen from 8.8 per cent in 2007 to 12.9 per cent in 2010.
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