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Report: Taxpayers Face $400B Hit On Bad Student Loans

PYMNTS

The figure, which approaches banks’ losses during the 2008 sub prime mortgage crisis, resulted from an analysis performed by the U.S. Private lenders lost $535 billion on low-quality mortgages during the 2008 Global Financial Crisis, Mark Zandi of Moody’s Analysics told the WSJ, according to Saturday’s article.

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Death And Taxes: One Is Becoming Much More Digital

PYMNTS

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. That’s up from about 59 percent in 2008. “As

Taxes 120
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Automation tipping point for financial transaction taxes arrives

Bobsguide

Financial transaction taxes (FTT), a levy on financial transactions such as the purchase or sale of financial instruments, have been on the radar of capital markets firms for over a decade. The 2008 global financial crisis created political pressure to ensure that the financial sector contributed.

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The Bank of England Blinks

South State Correspondent

The UK continues to dominate the trading this week, and this morning the Bank of England said they would temporarily cease their quantitative tightening program and instead turn to temporary quantitative easing, or long bond buying, in order to “restore orderly market conditions.”. The recession in the housing market is in full swing.

Policies 195
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Guest Post: 2Q Financial Markets and Economics Update - Second Quarter 2024

Jeff For Banks

Financial Markets Update – Second Quarter 2024 A dream vacation! We have many examples, notably 2000-2001, 2006-2008, and 2019, when restrictive rates impaired growth and recession followed. One of the components of the LEI which is up strongly is the S&P 500 stock market index, by +14.5%. But what about the ones who did?

Marketing 119
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BIS Warns About Corporate Borrowing

PYMNTS

In fact, BIS said the boost in borrowing in recent years by businesses with low credit scores could cause a crisis like the one that led to the 2008 banking crash. While firms in the U.S. — and, to a lesser extent, the U.K. have accounted for the bulk of the issuance, holdings are spread out more widely.

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Guest Post: Financial Markets and Economic Update - First Quarter 2024

Jeff For Banks

In the markets, we watched helplessly as real GDP plummeted -5% in 1Q20 and -31% in 2Q20 before rebounding by +33% in 3Q20. I’ve previously theorized that China would try to reclaim its global market share lost during the pandemic by flooding the markets with cheaper goods. This development could give us good news on inflation.

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