Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-55954 Mon, 26 Jan 2015 19:57:32 GMT Paul Singer: The Fed is causing inequality iehi-feed-55953 Mon, 26 Jan 2015 19:56:00 GMT Q4 Revenue Growth at S&P 500 Collapses 68% iehi-feed-55951 Mon, 26 Jan 2015 19:49:16 GMT Haftar forces seize Libya central bank branch in Benghazi iehi-feed-55950 Sat, 24 Jan 2015 01:04:42 GMT Foreclosure echo ``Private mortgage insurance was created to help less wealthy people buy homes by reducing the risk to mortgage lenders if the borrower defaults. Generally, home buyers who make less than a 20 percent downpayment must buy the insurance, which typically costs $30 to $70 for every $100,000 borrowed, and pays the bank for some of its losses when the borrower doesn't pay the mortgage and the house goes into foreclosure.

But while the policies have helped hundreds of thousands obtain a mortgage nationwide, they also created a class of home owners who were especially vulnerable when the economy crashed in 2008. They had large mortgages -- sometimes pressed upon them by predatory lenders -- and little equity in their houses. When real estate values collapsed, they often owed more than their houses were worth.''

iehi-feed-55948 Fri, 23 Jan 2015 16:39:27 GMT Moscow to Beijing in 2 days: China to build $242bn high-speed railway iehi-feed-55944 Fri, 23 Jan 2015 14:18:07 GMT 1,700 Private Jets Fly to Davos to Discuss Global Warming iehi-feed-55943 Fri, 23 Jan 2015 04:59:00 GMT Swiss SNB says inks pact for renminbi clearing with PBOC iehi-feed-55942 Fri, 23 Jan 2015 04:36:51 GMT Venezuela and China close $20 billion deal iehi-feed-55940 Fri, 23 Jan 2015 00:23:34 GMT Abdullah of Saudi Arabia, a wily king who embraced limited reform, dies iehi-feed-55939 Thu, 22 Jan 2015 21:28:35 GMT Wells Fargo, JPMorgan slapped for title kickback scheme iehi-feed-55937 Thu, 22 Jan 2015 19:22:01 GMT Poroshenko's Emergency Return to Kiev iehi-feed-55936 Thu, 22 Jan 2015 19:19:56 GMT Serbian central bank to discuss franc loan pain with bankers, borrowers iehi-feed-55930 Thu, 22 Jan 2015 18:17:15 GMT The Euro Crashes To 12 Year Lows And Now The US Commerce Secretary Starts To Grumble About A Strong Dollar iehi-feed-55923 Wed, 21 Jan 2015 21:01:19 GMT S.&.P. to Pay Nearly $80 Million in Settlements; Face 1-Year Ban ``Standard & Poor's, the credit rating agency blamed with helping inflate the subprime mortgage bubble, has now settled accusations that it orchestrated a similar fraud years after the bubble burst.

S.&P. has agreed to settle an array of government investigations stemming from 2011, paying nearly $80 million and admitting to some of its misdeeds, federal and state authorities announced on Wednesday. As part of the deals, reached with the Securities and Exchange Commission and the attorneys general in New York and Massachusetts, S.&P. also agreed to take a one-year "timeout" from rating certain commercial mortgage investments at the heart of the case, an embarrassing blow to the rating agency.

... the Justice Department and several state attorneys general did [also] take action, suing S.&P. in connection with the crisis. After fighting that case for two years, S.&P. has now reached a tentative settlement that would require it to pay $1.37 billion, people briefed on the matter said this week, a penalty large enough to wipe out its operating profit for a year.

iehi-feed-55921 Wed, 21 Jan 2015 18:57:50 GMT IMF downgrades global growth as fears about Europe and Russia overshadow oil windfall Ahead of the World Economic Forum in Davos, Switzerland, where world leaders gather this week to discuss challenges facing the global economy, the Fund revised down its global growth forecast to 3.5pc this year, from a projection of 3.8pc in October. Growth for 2016 was revised down to 3.7pc, from 4pc.

The IMF said weaker growth would be driven by a further slowdown in the eurozone, China, and a deep contraction in Russia, where the economy is expected to shrink by 3pc this year, from a projection of 0.5pc growth in October. The Fund believes the Russian economy, which has been hit by western sanctions over the crisis in Ukraine, will shrink by 1pc in 2016.

iehi-feed-55920 Wed, 21 Jan 2015 18:51:47 GMT 4 Bankers Get Slapped By A Woman In Massachusetts iehi-feed-55918 Wed, 21 Jan 2015 17:49:25 GMT What Obama didn't say: Address skips over debt, entitlement crisis iehi-feed-55915 Wed, 21 Jan 2015 00:42:27 GMT Is The BoJ The Next SNB? iehi-feed-55912 Tue, 20 Jan 2015 16:53:54 GMT Grexit the only way out of ‘valley of tears,' says Hans-Werner Sinn iehi-feed-55911 Tue, 20 Jan 2015 14:10:42 GMT IMF chief warns Greece: 'A debt is a debt'