A group of banks that turned down TARP funds have outperformed banks that received gobs of support. It just goes to show that not all banks needed a rescue.
It’s nearly one year after the big crash, and the financial system is still functioning.
Most banks didn’t go out of business or get taken over. Your ATM [...]
Archive for the ‘Global Recession’ Category
Hooray for banks that refused bailouts!
September 11th, 2009 by Financial Writer
Tags: banks, business, financial firms, financial system
more...White House: Stimulus Saved 1 Million Jobs
September 11th, 2009 by Financial Writer
U.S. President Barack Obama’s $787 billion stimulus package created or saved about 1 million jobs in the first six months after it was enacted, the White House said in a report released on Thursday.
In its first quarterly look at the impact of the stimulus bill, also known as the American Recovery and Reinvestment Act, the [...]
Tags: economic, economically, jobs, us, white house
Word on the street: No job prospects
September 11th, 2009 by Financial Writer
The economic picture has started to improve, but those out of work see no recovery in sight.
The job market is showing signs of improvement, according to the latest economic reports. But for those out of work and pounding the pavement, there are few signs of a turnaround.
After peaking in January, the pace of job losses [...]
Tags: businesses, economic, employers, us
Santander: Economy depends on the consumer
September 11th, 2009 by Financial Writer
Santander has said that despite optimism in the stock markets, inflation will depend on the actions of consumers.
Richard Moore, manager of the Asset Management UK arm of the banking group, made his comments following news that the FTSE 100 has reached 5,000 points.
He pointed out that consumers must now spend in order for inflation to [...]
Tags: banking group, consumers, inflation, santander
GM introduces money-back guarantee
September 10th, 2009 by Financial Writer
Buyers will be allowed to return their car or truck within 60 days if they’re not satisfied.
Buy a new General Motors car. Don’t like it? Return it and get your money back.
General Motors, in a bid to appeal to consumers upset about decades of poor quality and the carmaker’s government bailout, is launching an unusual [...]
Tags: businesses, buyers, general motors, money
Case: Commercial Real Estate Next to Fall
September 10th, 2009 by Financial Writer
Wellesley College economics professor Karl Case, co-founder of the S&P/Case-Shiller Home Price Index, says commercial real estate “absolutely” could be the next domino to fall.
“It’s not as big as residential,” he pointed out in an interview with Dan Mangru of Moneynews.
About 30 percent of U.S. loans are secured with residential real estate, compared to 13 [...]
Tags: economics, economy, loans, real estate
GM will offer 60-day, money-back guarantee on new cars
September 10th, 2009 by Financial Writer
Frustrated that many shoppers won’t even consider its cars, General Motors says starting Monday, buyers of new GM models can bring them back within 60 days, no questions asked, and get back the price of the car.
GM’s Vauxhall brand used a money-back guarantee in the U.K. some years ago, GM marketing chief Bob Lutz says, [...]
Tags: buyers, general motors, money, us
China Ramps Up To Buy Cheap U.S. Real Estate
September 10th, 2009 by Financial Writer
China Investment Corporation, China’s $300 billion sovereign-wealth fund (SWF), is preparing to buy distressed U.S. real estate assets.
It will do so using the U.S. Treasury Department’s Public-Private Investment Program (PPIP) to fund the investments, reports the Wall Street Journal.
Meanwhile, several Chinese officials warned that Wall Street isn’t taking the recession seriously, and that much more [...]
Tags: China, economic, financial crisis, real estate, USA
Japan has become the latest country to pull out of recession.
August 17th, 2009 by Financial Writer
It follows news last week that the economies of France and Germany have also narrowly moved back into growth.
Japan’s economy grew 0.9% in the three months to June, ending its longest recession since the Second World War. It was largely due to a rebound in exports and the attempts being mounted by governments around the [...]
Tags: economies, Global Recession, japan, recession
Dangerous Jobs Suddenly Look Appealing In Recession
August 7th, 2009 by Financial Writer
Some of the dirtiest, smelliest, most dangerous jobs are suddenly looking a lot more appealing in this economy.
People who have been out of work for months are lining up for jobs at places they once considered unthinkable: slaughterhouses, sewage plants, prisons. “I have to just shut my mouth because I can’t do anything about it,” [...]
Tags: Dangerous Jobs, recession, unemployment