Top 25 Subprime lenders and biggest losers

For many years it has been our opinion that predatory lending became the acceptable norm, followed by a period of aggressive Wall Street greed. When predatory became subprime, and with regulators totally asleep, these 25 institutions effected the entire world economy:

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Treat Americans right and they will pay credit card bills

It one thing to be put in a position where you can’t make your payments. Job loss, illness, or loss of a loved one is beyond our control. On the other hand it is quite another issue when your credit card company raises the monthly payment well beyond your budget.

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Another Georgia bank fails – what is wrong in Georgia?

Omni National, with $980 million in assets, was shut by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. was named receiver, the OCC said today in a statement. The Federal Reserve on March 17 ordered the bank to bolster its capital and make improvements in accounting controls within 30 days.

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AIG shows how bad lending infected U.S. financials

As poor lending decisions continue to hurt the economy, one company might show us how bad thing really are as we start 2009. That company is AIG, which has new financial problems. A.I.G. declined to provide details of its new financial problems, citing the “quiet period” just before it issues fourth-quarter results. But some people familiar with A.I.G.’s negotiations said it was on the brink of reporting one of the biggest year-end losses in American history.

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