MetaFilter posts tagged with credit and banking

Special Bail Out Offer, No Payments Until January 20th

Xurando — Tue, 25 Nov 2008 15:21:25 -0800

Have we jumped over all the hurdles in our ongoing economic fiasco? Probably not, the next hurdle is Credit Cards. "More is coming, I’m sorry to say. Layoffs are being announced nationwide in the tens of thousands. As people begin to lose their jobs, they will not be able to pay their credit card bills either. And the banks will be back for more handouts."

"The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen)." -Warren Buffet

anotherpanacea — Wed, 02 Jan 2008 13:44:56 -0800

A primer on the global derivatives market, the City of London, and the credit crunch:

"In 2003 the total size of the world economy was $49,000,000,000,000. The total size of the derivatives being traded was $85,000,000,000,000. In other words, derivatives today are worth far, far more than the total economic activity of the planet. More than $1,000,000,000,000 of derivatives are bought and sold every day. Every single thing that can be traded through derivatives, is."

Export Credit Agencies--The Secret Engine of Globalization

faux ami — Fri, 26 Nov 2004 12:16:01 -0800

Worse Than the World Bank? Export Credit Agencies--The Secret Engine of Globalization The amount of investment that export credit agencies (ECA) support worldwide is significantly greater than the total amount of lending from the World Bank, IMF and all other multilateral institutions combined. ECA's account for the single biggest component of developing country debt and half of all new greenhouse gas-emitting industrial projects in developing countries have some sort of ECA support. Investments in places like Guatemala, South Africa, Pakistan, Chile [PDF], have had unacceptable social, environmental and economic consequences. Administered or backed by a g o v e r n m e n t, an ECA uses taxpayer money to make it cheaper and less risky for domestic corporations to export or invest overseas. ECAs privatize the profit and socialize the risk while negatively impacting indigenous cultures and enironments, all with little or no governmental oversight or public awareness of the matter. So what can we do about it? [PDF]

Microcredit, microfinance, village banking and empowering the world's poor

madamjujujive — Sun, 08 Jun 2003 10:01:19 -0800

What could you do with $27? - Microcredit or microfinance provides working capital through small loans to the working poor. Read some of the wonderful accounts of people who built thriving businesses and new lives with from a jumpstart of as little as a $100 loan. Read the remarkable story of the Grameen Bank, and learn about Village Banking, and other inspiring efforts to bring dignity and help to the more than 1.2 billion people who live on less than one dollar a day. - more -