Online Extra: Microlending: It’s No Cure-all
Sunday, December 30th, 2007Online Extra: Microlending: It’s No Cure-all
BusinessWeek - In a 2005 experiment in South Africa, the economists convinced a for-profit lender to the poor, Credit Indemnity & Financial Services , to randomly select 325 people in cities such as Cape Town who had been narrowly rejected for loans. They paid the
Unpaid credit card bills rising
Baltimore Sun - In the wake of the jump in defaults on subprime mortgage loans made to borrowers with poor credit histories, banks have been less willing to allow consumers to consolidate credit card debt into home equity loans or refinanced mortgages. That is
Fed plan reins in dicey mortgage policies
USA Today - But the proposals go well beyond the 20% of the mortgage market that is subprime, loosely defined as higher-cost loans to borrowers with poor credit. The Fed would tighten rules covering advertising, servicing and appraisals for conventional
Greenspan speaks out
Reuters TV Video - Alan Greenspan speaking in Washington D.C said that the unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable.Defaults on subprime loans, made to borrowers with poor credit records, have
Guarding the House
Boston Globe - That opaque term suggests discount steaks but turned out to be a scheme through which the rich became richer by hoovering people - often of limited means and with poor credit - into cynical loans that were really ticking time bombs. Now that