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January 14, 2008 at 12:54 PM in reply to: Chinese Government PowerPlay: Chinese Government May Block China Bank’s Investment in Citigroup #135884
bsrsharma
ParticipantUS’s triple-A credit rating ‘under threat’
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said yesterday.
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy……
ParticipantUS’s triple-A credit rating ‘under threat’
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said yesterday.
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy……
ParticipantUS’s triple-A credit rating ‘under threat’
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said yesterday.
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy……
ParticipantUS’s triple-A credit rating ‘under threat’
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said yesterday.
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy……
ParticipantUS’s triple-A credit rating ‘under threat’
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said yesterday.
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy……
ParticipantVery good news for taxpayers. If Countrywide had failed and loans taken over by Federal agencies, it would have hurt; now BofA enjoys the role of asbestos cleanup crew.
ParticipantVery good news for taxpayers. If Countrywide had failed and loans taken over by Federal agencies, it would have hurt; now BofA enjoys the role of asbestos cleanup crew.
ParticipantVery good news for taxpayers. If Countrywide had failed and loans taken over by Federal agencies, it would have hurt; now BofA enjoys the role of asbestos cleanup crew.
ParticipantVery good news for taxpayers. If Countrywide had failed and loans taken over by Federal agencies, it would have hurt; now BofA enjoys the role of asbestos cleanup crew.
ParticipantVery good news for taxpayers. If Countrywide had failed and loans taken over by Federal agencies, it would have hurt; now BofA enjoys the role of asbestos cleanup crew.
January 10, 2008 at 9:09 PM in reply to: CNNMoney: “Credit card defaults alarmingly high” and “Consumer spending surges” #133887ParticipantAmerican Express Has $275 Million Charge for Quarter
American Express Co., the third- largest U.S. credit-card network, will take a fourth-quarter charge of $275 million to cover rising customer defaults and forecast earnings this quarter below analysts’ estimates.
The stock fell 7 percent in extended trading. American Express, based in New York, said today that first-quarter earnings from continuing operations will be less than 90 cents a share, missing the 93-cent average estimate of 12 analysts surveyed by Bloomberg.
American Express adopted a “cautious view” for 2008 after cardholder spending slowed and delinquencies rose in December amid a slowing U.S. economy, the company said in a statement. Capital One Financial Corp., the largest independent U.S. credit-card issuer, said today it may have $5.9 billion in unpaid loans next year, compared with an earlier forecast of $4.9 billion to the “mid-$5 billions.”
“We did see some negative credit trends among U.S. consumers during December, particularly in California, Florida and other parts of the country most affected by the housing downturn,” Chief Executive Officer Kenneth Chenault said in the statement.
Write-offs, or loans the company deemed uncollectible, rose to 4.3 percent in the fourth quarter from 3.7 percent in the third, the company said. It expects they will rise to 5.1 percent to 5.3 percent this year.
Sudden Worsening
Chief Financial Officer Daniel Henry said on a conference call today the rate that customers repaid loans worsened “quite suddenly” in December, leading to the change in 2008 estimates. The weakness was isolated to U.S. consumers, not overseas or business spenders, he said.
Henry told analysts in October the company’s “affluent and high-spending” cardholders shelter the company from the problems of borrowers with the riskiest credit histories.
“Credit-card performance will noticeably deteriorate during the year, given spillover from residential mortgages, weaker economic trends, and higher levels of unemployment,” Fitch Ratings said today in a report on the U.S. industry…..
http://www.bloomberg.com/apps/news?pid=20601087&sid=atutQQocOMnA&refer=worldwide
January 10, 2008 at 9:09 PM in reply to: CNNMoney: “Credit card defaults alarmingly high” and “Consumer spending surges” #134080ParticipantAmerican Express Has $275 Million Charge for Quarter
American Express Co., the third- largest U.S. credit-card network, will take a fourth-quarter charge of $275 million to cover rising customer defaults and forecast earnings this quarter below analysts’ estimates.
The stock fell 7 percent in extended trading. American Express, based in New York, said today that first-quarter earnings from continuing operations will be less than 90 cents a share, missing the 93-cent average estimate of 12 analysts surveyed by Bloomberg.
American Express adopted a “cautious view” for 2008 after cardholder spending slowed and delinquencies rose in December amid a slowing U.S. economy, the company said in a statement. Capital One Financial Corp., the largest independent U.S. credit-card issuer, said today it may have $5.9 billion in unpaid loans next year, compared with an earlier forecast of $4.9 billion to the “mid-$5 billions.”
“We did see some negative credit trends among U.S. consumers during December, particularly in California, Florida and other parts of the country most affected by the housing downturn,” Chief Executive Officer Kenneth Chenault said in the statement.
Write-offs, or loans the company deemed uncollectible, rose to 4.3 percent in the fourth quarter from 3.7 percent in the third, the company said. It expects they will rise to 5.1 percent to 5.3 percent this year.
Sudden Worsening
Chief Financial Officer Daniel Henry said on a conference call today the rate that customers repaid loans worsened “quite suddenly” in December, leading to the change in 2008 estimates. The weakness was isolated to U.S. consumers, not overseas or business spenders, he said.
Henry told analysts in October the company’s “affluent and high-spending” cardholders shelter the company from the problems of borrowers with the riskiest credit histories.
“Credit-card performance will noticeably deteriorate during the year, given spillover from residential mortgages, weaker economic trends, and higher levels of unemployment,” Fitch Ratings said today in a report on the U.S. industry…..
http://www.bloomberg.com/apps/news?pid=20601087&sid=atutQQocOMnA&refer=worldwide
January 10, 2008 at 9:09 PM in reply to: CNNMoney: “Credit card defaults alarmingly high” and “Consumer spending surges” #134087ParticipantAmerican Express Has $275 Million Charge for Quarter
American Express Co., the third- largest U.S. credit-card network, will take a fourth-quarter charge of $275 million to cover rising customer defaults and forecast earnings this quarter below analysts’ estimates.
The stock fell 7 percent in extended trading. American Express, based in New York, said today that first-quarter earnings from continuing operations will be less than 90 cents a share, missing the 93-cent average estimate of 12 analysts surveyed by Bloomberg.
American Express adopted a “cautious view” for 2008 after cardholder spending slowed and delinquencies rose in December amid a slowing U.S. economy, the company said in a statement. Capital One Financial Corp., the largest independent U.S. credit-card issuer, said today it may have $5.9 billion in unpaid loans next year, compared with an earlier forecast of $4.9 billion to the “mid-$5 billions.”
“We did see some negative credit trends among U.S. consumers during December, particularly in California, Florida and other parts of the country most affected by the housing downturn,” Chief Executive Officer Kenneth Chenault said in the statement.
Write-offs, or loans the company deemed uncollectible, rose to 4.3 percent in the fourth quarter from 3.7 percent in the third, the company said. It expects they will rise to 5.1 percent to 5.3 percent this year.
Sudden Worsening
Chief Financial Officer Daniel Henry said on a conference call today the rate that customers repaid loans worsened “quite suddenly” in December, leading to the change in 2008 estimates. The weakness was isolated to U.S. consumers, not overseas or business spenders, he said.
Henry told analysts in October the company’s “affluent and high-spending” cardholders shelter the company from the problems of borrowers with the riskiest credit histories.
“Credit-card performance will noticeably deteriorate during the year, given spillover from residential mortgages, weaker economic trends, and higher levels of unemployment,” Fitch Ratings said today in a report on the U.S. industry…..
http://www.bloomberg.com/apps/news?pid=20601087&sid=atutQQocOMnA&refer=worldwide
January 10, 2008 at 9:09 PM in reply to: CNNMoney: “Credit card defaults alarmingly high” and “Consumer spending surges” #134144ParticipantAmerican Express Has $275 Million Charge for Quarter
American Express Co., the third- largest U.S. credit-card network, will take a fourth-quarter charge of $275 million to cover rising customer defaults and forecast earnings this quarter below analysts’ estimates.
The stock fell 7 percent in extended trading. American Express, based in New York, said today that first-quarter earnings from continuing operations will be less than 90 cents a share, missing the 93-cent average estimate of 12 analysts surveyed by Bloomberg.
American Express adopted a “cautious view” for 2008 after cardholder spending slowed and delinquencies rose in December amid a slowing U.S. economy, the company said in a statement. Capital One Financial Corp., the largest independent U.S. credit-card issuer, said today it may have $5.9 billion in unpaid loans next year, compared with an earlier forecast of $4.9 billion to the “mid-$5 billions.”
“We did see some negative credit trends among U.S. consumers during December, particularly in California, Florida and other parts of the country most affected by the housing downturn,” Chief Executive Officer Kenneth Chenault said in the statement.
Write-offs, or loans the company deemed uncollectible, rose to 4.3 percent in the fourth quarter from 3.7 percent in the third, the company said. It expects they will rise to 5.1 percent to 5.3 percent this year.
Sudden Worsening
Chief Financial Officer Daniel Henry said on a conference call today the rate that customers repaid loans worsened “quite suddenly” in December, leading to the change in 2008 estimates. The weakness was isolated to U.S. consumers, not overseas or business spenders, he said.
Henry told analysts in October the company’s “affluent and high-spending” cardholders shelter the company from the problems of borrowers with the riskiest credit histories.
“Credit-card performance will noticeably deteriorate during the year, given spillover from residential mortgages, weaker economic trends, and higher levels of unemployment,” Fitch Ratings said today in a report on the U.S. industry…..
http://www.bloomberg.com/apps/news?pid=20601087&sid=atutQQocOMnA&refer=worldwide
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