CNN's Max Foster talks to Pimco CEO, Mohamed El-Erian, about the bond market pressures in Europe.
In the wake of the Congressional debt committee's failure to find agreement, Fitch Ratings affirmed the United States' top-notch credit rating on Monday but revised its rating outlook to "negative," down from "stable."
As protesters find new ways to "Occupy Wall Street", major financial firms have been busy handing out pink slips this week.
Junk bonds lived up to their name this summer, but now investors just can't get enough of them.
As the European debt crisis heated up, managers of American money market funds started pulling money out of European banks, with the French banks feeling the biggest impact.
Ratings agency Standard & Poor's is being investigated by the U.S. Justice Department for allegedly overrating mortgage-backed securities, whose meltdown led to the 2008 financial crisis, according to two sources with knowledge of the investigation.
As U.S. debt ceiling negotiations get down to the wire, fund managers are shifting out of money market funds in case a debt default creates a pressing demand for cash.
Egypt's newly appointed finance minister Samir Radwan has urged protesters trying to topple President Hosni Mubarak's regime not to risk the country's security and prosperity for short-term gain.
Just as fears about a heavy sell off in the municipal bond market seemed to be easing, Standard & Poor's issued a warning that this year could bring a potential surge in the number of downgrades of bonds issued by state and local governments.
Foreclosures were at a record high in 2010, and more than 1 million people lost their homes, even as notices started leveling off during the end year.
BP seems to have an oily black thumb, streaking every company it touches during the spill, which is still gushing up to 60,000 barrels of crude a day. The next victim: a little known oil and gas exploration company named Anadarko that owns 25% of the Macondo well where the Deepwater Horizon rig was drilling.
Moody's Investors Service cut BP's long-term rating by three notches Friday, marking the second downgrade in a month, citing the worsening impact of the oil disaster.
Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday.
When the FDIC closed Chicago's Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults.
Over-regulating credit ratings might just have a happy ending.
The foreclosure crisis grinds on amid signs of hope.
Substantially fewer homes were repossessed in August than in July, but just as many Americans were behind on their mortgage payments, according to a report released Thursday.
There's plenty of room at the inn. So much, in fact, that many high-end hoteliers are bleeding cash and defaulting on their loans.
Derivatives are largely an insiders' game. That's one conclusion to be drawn from a new report suggesting that five big banks account for an overwhelming percentage of the total market. That could be bad news for those arguing against tougher regulation of the market.
Credit rating firms may finally be forced to eat their own cooking.
When Richard Dugas, the president and CEO of Pulte Homes Inc. recently talked about his company's $3.1 billion purchase of rival Centex Corp., he added fuel to the fire for a possible wave of consolidation in the battered homebuilding sector.
Just when their missteps in the ongoing financial crisis appeared to have faded, credit rating agencies are finding themselves back in the spotlight once again.
The Rocky Mountain News, gone. The Seattle Post-Intelligencer, gone.
A wave of resetting adjustable rate mortgages had been poised to add to the flood of foreclosures as their rates jumped.
South Korea commits $100 billion to guarantee borrowing by the nation's banks; China promises higher government spending to boost its slowing economy
Washington Mutual's stock rose on Tuesday, recovering from a rough start after Standard & Poor's lowered the savings-and-loan's credit rating to junk amid continuing weakness in the housing market.
Mortgage rates declined, easing for the third straight week, according to a report from mortgage finance giant Freddie Mac.
They're known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to explode, according to a Fitch Ratings report issued Tuesday.
Thousands of layoffs, hundreds of grounded planes and 21 price increases may not have been enough to save the embattled airline industry from the damaging effects of high fuel prices.
Government officials said Tuesday that the country's three largest credit raters failed in their reviews of subprime mortgage-backed securities.
America's banks and brokerages are scrambling to raise badly needed cash, but it may be at the expense of shareholders
Citigroup delivered yet another quarter of devastating results Friday, this time losing more than $5 billion due to troubles in its fixed-income business and higher consumer credit costs, adding it would cut an additional 9,000 jobs.
Government officials urged credit rating agencies Wednesday to rethink the way they rate municipal bonds, arguing that the current system saddles local governments and taxpayers with unnecessary costs.
The credit crisis appears to be spreading beyond the housing market into the market for auto loans, according to a report released Thursday.
The bond insurance crisis will come under congressional scrutiny Thursday as a number of high-profile players including Ambac and MBIA executives and New York Gov. Eliot Spitzer are scheduled to testify before lawmakers.
Stocks slumped for a second straight session Tuesday after Wall Street saw an unexpected contraction in the service sector as evidence that the economy is sinking into recession
Credit markets shrugged Friday in the aftermath of a Citigroup Inc. announcement that it would rescue seven troubled investment funds - a sign of just how shaky this key area of the financial markets remains.
Like holiday shoppers maxing out their credit cards, the nation's retailers have been racking up debt buying back their own stock. Now their bills are coming due.
Renting tips
updated: Mon Nov 12 2007 21:06:00
CNN's Gerri Willis has the risks on renting and how some landlord financial concerns can affect you.
Wall Street is already betting that next week's earnings at the nation's biggest banks will be dismal. What remains to be seen is just how bad they will be.
Paul Donovan of UBS on results from the third quarter and the effect it could have on the economy.
Analyst Christian Malard discusses the strength of the evidence backing allegations of insider trading at EADS.
CNN's Gerri Willis offers tips on refinancing, good news for those with a HELOC and more.
CNNMoney: Rate decisionupdated: Fri Sep 14 2007 08:35:00
Rate decision
The European Union and the United States should join forces to investigate the role of credit ratings agencies in the current debt market turmoil, the EU's head of financial services said Friday.
Stock markets have regained some of their poise on rising hopes that the Federal Reserve will cut interest rates on Tuesday. But investors appear to be looking past one key warning sign: The $2 trillion market for commercial paper remains locked up - suggesting there could be more pain ahead for borrowers around the world.
Federal regulators said Friday they are reviewing the role credit-rating agencies played in the mortgage market debacle for borrowers with weak credit.
Wall Street investors left for Labor Day weekend pleased about the prospects of an interest rate cut, but they're likely to come back wanting more evidence that rates are indeed about to come down.
On a recent conference call with ratings agency Standard & Poor's, Steven Eisman, a managing director at hedge fund Frontpoint Partners, had a question. Referring to the agency's move to downgrade billions of dollars of mortgage-backed securities, he said, "I'd like to understand why you're making this move today and why you didn't do this many, many months ago."
Analysis: The plunging stock market is the result of new hedge fund strategies. It's happened before, and until regulators step in it will happen again
RadioShack Corp. reported a better-than-expected second-quarter profit Monday on cost cutting but sales missed estimates, sending shares of the consumer electronics retailer tumbling about 13 percent.
Swollen rivers crested Tuesday across western England, as emergency crews struggled to restore electricity and clean water
Newlyweds Erik and Brandi Quam can't really afford their home. The monthly carrying costs on their two-bedroom condo in Arlington, Va. run about $2,500 a month, and they fear the bill could go higher still as their adjustable mortgage resets to higher interest rates. It's already a tight squeeze: They've taken in a roommate to help pay the bills.
Chaos theory has it that a butterfly flapping its wings in Indonesia can cause a hurricane off the coast of Florida. Now there's a new version of that adage: Instability in the Middle East can make...
The sleepy insurance industry could see a lot of action in 2006, as consolidation in the arena gains steam.
What's the insurance industry to do now that 2005 is going down as the worst year on record for catastrophe losses? Blame someone else.
Auto insurance: In most cases, you can't afford to drive around without it. But that doesn't mean it should cost you an arm and leg to feel secure.
The risk of default is growing for some home loans as mortgage-lending standards loosen, said Standard & Poor's Ratings Services, which responded by tightening risk criteria for those home loans, a newspaper report said Wednesday.
IF I HAD ASKED YOU A YEAR AGO what AIG, Berkshire Hathaway, and GE had in common, you probably would have said, "They're all big blue-chip companies." If I asked you that question today, you might ...
When it comes to the financial scandals of the past two years, there's plenty of blame to go around. In April, Congress turned the spotlight on the major credit-ratings agencies--Moody's Investors ...
For all the talk of what banks have done wrong lately (huge write-downs! swelling bad debt!), they've also done something right: passed the buck.
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