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Freeze tag
Five tips for borrowers who find their HELOC has been reduced
By Amy Hoak, MarketWatch
Last Update: 6/29/2008 3:30:00 PM
CHICAGO (MarketWatch) — When Denise Lopez bought two new tables, a floor lamp
and a chair recently, her intent was to finance it with her home equity line of
credit. But it wasn’t long before she discovered that wasn’t [...]

* American International Group (AIG) said it will take $5 billion in losses of sales of investments from a dozen insurance units hurt by the subprime situation. AIG plans to inject some capital into these subsidiaries, according to Christopher Swift, vice president for life and retirement services.
[...]

Credit is drying up everywhere. Banks are now concerned (finally), about rising credit card debt. They have every reason to be. The bankruptcy reform act of 2005, which encouraged such reckless lending is now blowing up in lenders’ faces.
Banks and credit card companies wrote that bill. They got everything they wanted. It goes to show [...]

Those following the progress of the Dodd-Shelby mortgage rescue plan in the Senate might want to check out two solid pieces of enterprising reporting on the bill this weekend.
First, the Examiner’s Tim Carney reports that the bailout section of the Dodd-Shelby bill is, in the words a lobbyist, “exactly what Bank of America and Countrywide [...]

In current market, the one is about to clapse, you should prepare a list of stocks you should short for your own benefit, the recovery isn’t anywhere near from now, keep in mind to short financials, they lost too much and more to lose for a long time, billons dollar can’t be recovered in months, [...]