DeeJayH

Bill Heard Enterprises Folding Dealerships Nationwide
i was trying to find the information locally
but what i have heard is that one of the largest national owners of car dealerships is going out of business because they CAN NOT get their buyers financed due to current market conditions

another sign of who bad things are and how things need to be addressed immediately

__________________
These days it seems that the deadliest place on earth for an American to be is inside the womb. - Joshua P. Allem

DeeJayH

Bill Heard Enterprises Folding Dealerships Nationwide
i was trying to find the information locally
but what i have heard is that one of the largest national owners of car dealerships is going out of business because they CAN NOT get their buyers financed due to current market conditions

another sign of who bad things are and how things need to be addressed immediately

donsutherland1

DeeJayH,

Stories such as this offer information that the contagion that has spread from the housing market into the nation's financial system is now beginning to impact Main Street. The economic headwinds could well bring about a recession beginning later this year and continuing into at least the first part of next year. In fact, Fed Chairman Ben Bernanke told the Joint Economic Committee, "Real economic activity in the second quarter appears to have been surprisingly resilient, but, more recently, economic activity appears to have decelerated broadly."

While I would oppose federal intervention of the kind that will be necessary in the financial rescue package under ordinary circumstances, the present situation is extraordinary. The example you cite offers just one more illustration of the urgency of such a package. Without out, money will continue to dry up and it will become more and more difficult for households and businesses to find financing. That is what happened in past cases, both in the U.S. and Abroad, when a sizable asset bubble burst and/or a panic set in following the failure of a major financial institution or institutions leading to the disappearance of credit. The U.S. is now moving into the start of such a situation. A timely rescue package can still avert that disaster, even as it carries significant risks of its own. The absence of such a package will almost certainly lead to exactly the kind of severe recessions that have occurred in the past when credit became exceptionally scarce.

Gladiator

CDS Regulations were proposed 4 years ago. What is the rush now?

Risky Swaps. - Munich RePEc Personal Archive

__________________
_______________________________
How did Our Oil get under Their Sand?

Gladiator

Did China Regulators instruct China's banks to stop investing in US Banks and securities?

"BEIJING, Sept. 25 (Xinhua) -- The China Banking Regulatory Commission (CBRC) on Thursday denied a media report in Hong Kong that it has told domestic banks to halt interbank lending to U.S. banks.

"The regulator has never, through any channel, issued a statement or told domestic commercial banks not to lend to U.S. financial institutions," the CBRC said in a statement.

The South China Morning Post reported on Thursday that the regulator ordered local banks to halt interbank lending to U.S. banks to avoid possible losses during the financial crisis.

The newspaper cited unidentified sources as saying that the ban applied to interbank lending of all currencies to U.S. banks but not to banks from other countries. "

China banking regulator denies report on lending ban to U.S. banks_English_Xinhua







..