ENERGY POLICIES: Joe Biden blasts McCain on auto loans (Detroit Free Press)
Democratic vice presidential hopeful Joe Biden wasted no time Monday in hitting Republican presidential candidate John McCain on auto industry issues, saying McCain does not fully support the industry's bid for $50 billion in government loans.
The Debt Capitals Of America (Forbes)
Consumer credit problems are a worry across the U.S. these days. In these 10 cities it's a crisis.
How to get the best loan rates (Bankrate.com via Yahoo! Finance)
Learn about the forces that drive rates on several different types of loans in this tough lending environment.
Pimco Seeks as Much as $5 Billion for Distressed Debt (Update1) (Bloomberg.com)
Aug. 27 (Bloomberg) -- Pacific Investment Management Co., the biggest manager of bond funds, is seeking as much as $5 billion to buy mortgage-backed debt that plunged in value after the subprime market collapsed, according to two investors with knowledge of the matter.
The second phase (FT.com via Yahoo! News)
The credit crunch is entering a second, "post-subprime" phase where banks' loan books deteriorate more rapidly and capital-raising efforts might become harder, says Scott Bugie, credit analyst at Standard & Poor's.
10 Questions about Honda (The Columbus Dispatch)
This week, Honda of America rolled out its highly anticipated 2009 Acura TL sport sedan, an entry-level luxury vehicle that got a makeover.
Credit Acceptance Announces the Extension of $325.0 Million Warehouse and $50.0 Million Residual Credit Facilities (PrimeNewswire via Yahoo! Finance)
SOUTHFIELD, Mich., Aug. 27, 2008 -- Credit Acceptance Corporation announced today that it has extended the maturity date of its $325.0 million revolving warehouse facility from February 11, 2009 to August 26, 2009, and extended the maturity date of its $50.0 million residual credit facility from September 9, 2008 to August 26, 2009.
FDIC's Problem Banks List Balloons (TheStreet.com)
According to quarterly figures, insured commercial banks and savings institutions posted a profit of just $5 billion in the second quarter, the second-lowest quarterly total since 1991.
CIBC Announces Third Quarter 2008 Results (CNW Group via Yahoo! Finance)
CIBC announced net income of $71 million for the third quarter ended July 31, 2008, compared with net income of $835 million for the same period last year. Diluted earnings per share were $0.11, compared with diluted EPS of $2.31 a year ago.
PRESS RELEASE: Fitch: Outlook On Consumo Bancaja 1-C Negative (Nasdaq)
Fitch Ratings-London/Madrid-26 August 2008: Fitch Ratings has today changed the Outlook on Consumo Bancaja 1 - Fondo de Titulizacion de Activos's (Consumo Bancaja 1) Class C floating-rate notes to Negative from Stable. All ratings are affirmed.