Wednesday, December 03rd, 2008

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Posts Tagged ‘ Auto Loans ’

GM, Chrysler Merger Could Get Government Backing

Oct 29th, 2008 | By Jason Simpkins | Category: Financial News

The U.S. government is looking for ways to facilitate a merger between General Motors Corp. (GM) and Chrysler LLC, in the hopes of keeping the once vibrant industry afloat during a time of crisis. But Uncle Sam’s credit card is close to maxed out and a bailout for the auto industry could open the door for other troubled industries to come calling.



Subprime’s Latest Victim: Municipal Bonds

Jun 2nd, 2008 | By Contrarian Profits | Category: Featured, Financial News

Subprime has found a new victim, reports Bloomberg: municipal bonds. Already, the amount of municipal bonds that have defaulted this year is three times that of 2007.

So far this year, $736 million in municipal bonds have defaulted. That doesn’t necessarily mean they didn’t pay investors; they may have just drawn down reserves. That’s what happens just before they stop making payments to bondholders.