Archive for the 'Credit' Category

Next Week on the Street

Sunday, March 16th, 2008

A few events to remember for next week:

Goldman Sachs reports earnings - March 18th, 8:30am
Goldman Sachs finished out 2007 in good shape with shares exceeding analysts predictions. However, Goldman’s true isolation from mortgage backed securities will be revealed in earnings for the next several quarters. With the bail out of Bear Stearns, I’m sure the street will be on pins and needles to see how well Goldman is fairing in this volatile market place.

Federal Open Market Committee meeting - March 18th, 9:00am .
Traders in interest rate futures have a 3/4% cut in the fed funds rate in mind and increasing evidence that the U.S. economy may be …


Is FICO still worth its weight?

Wednesday, December 5th, 2007

Your credit health may start going south, and it may not be your fault.

Currently, your FICO score is the long standing gauge on risk when it comes to lending money. Some are saying that the FICO financial thermometer may be due for calibration, all thanks to the current credit crunch, backed up by the mortgage epidemic.

Analyst Meredith Whitney, on the notion that more people have taken on “more house”, says that a loan-to-value (LTV) may be a more appropriate way to measure financial risk when it comes to lending money. Lenders who have put too much weight into credit scores when it came time …


The effects of the credit crunch…

Thursday, November 8th, 2007

Well it appears that the effects of our credit crunch are starting to show up in non-essential services.

Sprint is losing subscribers. Big time. Sprint lost 337,000 post-paid subscribers, or customers who sign annual contracts and pay monthly bills. Total subscribership fell 60,000 from the second quarter to 54 million. The competition, however is doing better. AT&T and Verizon Wireless added two million and 1.6 million net subscribers, respectively. Furthermore, Sprint expects subscriber losses to continue into the fourth quarter.

It seems that Sprint’s troubles stem from its reliance on customers with poor credit, the cellphone industry’s version of the …


Free Credit Report Dot Scam

Wednesday, September 20th, 2006

A reminder to those who watch their credit, (or are in the process of repairing their credit), the place to get your annual free credit report is at: AnnualCreditReport.com.

A recent Red Tape Chronicles at MSNBC has listed the FreeCreditReport.com site as a convenient way for its  parent, Experian, to make money after you’ve signed up for their free credit report.