Chavez and his allies might be perpetuated China's help, as demonstrated recently by China's twenty billion dollar loan to Venezuela.
The terms of a multi-billion dollar series of loan guarantees to the Russian oil and gas sector in preparation by the U.S. Export-Import Bank (Eximbank) is a disaster in the making.
And to Wall Street the best part is the federal guarantees it retains: 86% of its loan portfolio, by dollar volume, is government-backed student loans--usually smallish amounts, for families of modest means.
For now, they must also look into the fallout of the subprime affair, not only for the multi-million dollar hedge funds who bought up loan parcels, but also those at the beginning of the whole process - those seeking to buy a home on a low income.
This has not been the first instance of government heavy-handedness--to wit, government's determination to punish innocent and guilty alike in the savings and loan debacle, the multibillion-dollar robbery of Texaco and the astronomically large damage awards meted out against some companies, such as McDonald's, when a customer successfully sued the fast-fooder for selling hot coffee that she spilled on her lap.
Seems that Vahedi was a busy fellow because in addition to his multi-million-dollar Ponzi scheme, he also submitted at least 250 fraudulent loan applications replete with falsified employment and income records.
That is why we launched two new initiatives, Small Loan Advantage and Community Advantage, which help get lower dollar loans into the hands of small business owners.
WHITEHOUSE: Blog Posts Related to the African American Community
The consumer-loan uptick is most pronounced in the auto sector, where the dollar value of loans originated last year topped the 2009 total, Equifax estimates.
Credit Suisse and Citigroup are reportedly selling a big loan package for Kohlberg Kravis Roberts' takeover of First Data at 96 cents on the dollar.
John Mauldin, publisher of an investment newsletter, points out that during America's 1980s savings-and-loan crisis, bottom-fishers could net perfectly good mortgages for 15 cents on the dollar.
With the federal loan program expiring in September, the Energy Department has been pushing through the billion-dollar guarantees crucial for developers to secure the equity investment needed to build massive solar power projects.
FORBES: Feds Grant $2.1 Billion Loan Guarantee for California Solar Farm
This has happened because there has been a push by companies looking to match cash flows, and just as in the loan market, U.S. investors are only really open to European companies with dollar revenues.
FORBES: Topical: Yankee issuers enticed to European market by liquidity, cheaper pricing
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