Credit Writedowns

John McCain made a surprise choice in choosing Sarah Palin, the Governor of Alaska, for his running mate. While this is a risky choice, it definitely balances the ticket.Below is a snippet of the story at the Wall Street Journal. This will…

"Prime looks terrible." Those were the words of Jamie Dimon, CEO of JP Morgan Chase when he had his earnings call for Q2. And, indeed, prime is terrible. New data out from Hope Now shows that there are now more prime mortgage delinquencies…

So, this week comes to an end soon. It was a short week for holiday makers in the UK because of Monday's bank holiday. Next week will be a short one because of Labor Day over here in the States. So, to all you vacationers, I wish you well…

Last month, Hank Paulson, the U.S. Treasury Secretary, was waxing prosaically about covered bonds and their benefits to mortgage markets. From his comments, one gets the impression he sees this a potential solution to preventing a future…

I have written a few posts about China recently. None have taken a look at the big picture for Chinese growth and at its affects on big Chinese companies that are receiving large overseas investment in their shares. Overall, China will…

Apparently, a new market of peer-to-peer lending has popped up , where banks are no longer a part of the lending proposition. Loans are made directly peer-to-peer. Whether this is a reaction to tight credit or some weird new innovation due…

I always feel a bit sceptical when I read a report about unending growth and prosperity. Rio Tinto thinks that the metals and mining boom will continue unabated for years. That certainly puts him in the same camp as Jim Rogers. Rio CEO…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…

U.S. jobless claims for the past week were down to 425,000 from 435,000 last week and as high as 457,000 three weeks ago. While seasonality is big part of the data in August, this is a comforting change from the recent…

Here's the Guardian's take on the news and a story from the Telegraph.RBS axe likely to fall on Sir Tom, not Sir Fred - Telegraph