Profits elude geothermal companies

WASHINGTON – Two taxpayer-backed clean energy companies that specialize in capturing heat from the earth and turning it into electricity are facing deep financial difficulties, according to an analysis of financial records.

The companies, based in the West, have received $195 million in partial federal loan guarantees and grants aimed at promoting clean energy. Although the companies have agreements with utilities to buy their energy, they have not operated at a profit. They face questions similar to those of Solyndra, the now-bankrupt solar manufacturer that received a $535million federal loan in 2009.

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Auto Loan Tips For the Credit Challenged

During need of a bad credit auto loan, a few aspects should be considered before signing up for financing. Borrowers with poor ought to be much more careful in choosing loan deals because many financiers that give bad credit financing impose excessive rates of interest and unreasonable repayment terms. Indeed, grabbing a bad auto loan deal can inflict more damage to your credit. If you are planning to apply for a bad credit car loan, read the following reminders:

• Check your credit score.
• Get pre-approved. 
• Use a car loan calculator. 
• Buy a car that you can afford. 
• Buy second hand.
• Anticipate costs. 
• Read the fine print.

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TEXT-S&P: SF Ratings Remain On CreditWatch Neg After U.S. Downgrade

(The following was released by the rating agency)

OVERVIEW

-- Since July 15, 2011, we have placed our ratings on 744 structured finance transactions on CreditWatch negative due to exposure to the sovereign credit risk of the U.S.

-- We lowered our long-term credit rating on the U.S. to AA+/negative outlook and removed it from CreditWatch negative on Aug. 5. We affirmed the short-term rating on the U.S. at 'A-1+' and removed it from CreditWatch negative. The transfer and convertibility assessment of the U.S. remains at 'AAA'.

-- We will review each structured finance transaction with ratings placed on CreditWatch negative, as well as any additional transactions we expect may be affected, and take rating actions as we deem appropriate. Pending completion of our review, we expect that our ratings on some of these transactions will remain on CreditWatch negative.

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S&P: Further US Credit Downgrade Possible

The U.S. government’s credit rating could be downgraded even further, according to the rating agency that removed the United States from a list of top-tier creditworthy nations.

Standard and Poor’s judgement

Days after Standard and Poor’s made headlines across the globe by saying the United States no longer merits its highest AAA credit rating, the firm’s managing director, John Chambers, says another downgrade cannot be ruled out if America’s worsening fiscal imbalances do not improve.

“If the fiscal position of the United States deteriorates further, or if the political gridlock becomes more entrenched, then that could lead to [another] downgrade.

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Financial markets: State of emergency

In 2007 the world financial system suffered a near death experience. You could have been forgiven for thinking that it was happening all over again

The conventional wisdom is that August is a sleepy month for markets, with politicians, policymakers and investors all at the beach rather than at their desks. The conventional wisdom is wrong. The credit crunch really kicked off on 9 August 2007, when the French bank BNP Paribas suspended three of its investment funds that had been dabbling in US sub-prime mortgages. Within a week, the Bank of England's Mervyn King was getting warnings that Northern Rock was in grave danger if the squeeze in money markets dragged on (not that it had any effect on Threadneedle Street's policies). Over the course of that month, the interest rate that banks charged each other for loans – the London inter-bank offered rate (Libor) – surged. Investors and commentators began talking about a credit crunch. Traders and fund managers who were catching some sun found themselves glued to their BlackBerrys and on the phone to their offices. These were the first steps that led to the collapse of Northern Rock in September, and ultimately to a near-death experience for the world financial system. And yesterday you could have been forgiven for thinking that it was happening all over again.

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China warns U.S. on managing its debt

HONG KONG — China's central bank governor called Wednesday for the U.S. to "take responsible policy measures to handle its debt," a day after the world's largest economy reached a bipartisan deal to reduce its deficit and lift its borrowing limit to avoid a default.

The comments from People's Bank of China Governor Zhou Xiaochuan, posted on the central bank's website, signal China's lingering concern over America's financial health. China is the U.S.' largest foreign creditor, holding at least $1.16 trillion in Treasury securities.

Zhou also warned that stability is needed in the highly traded U.S. debt market, and said China plans to continue diversifying its currency reserves.

"Large fluctuations and uncertainties in (the Treasury) market would undermine the stability of the international financial system and hinder global recovery," he said.

China isn't the only one concerned with the U.S.' financial condition.

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When In Need of A bad Credit Car Loan

You badly need to get a car loan at this time but your credit score is way below average.  You are doing your best to improve your credit but waiting for another 6 months before applying for a car loan is not an option.  You wonder, can you get a car loan with bad credit?  And the answer is yes, you can!

While many lending companies prefer customers with exemplary credit history and credit score, you can also find lenders who offer special loan programs for people with bad credit.  These loans are also known as subprime loans or bad credit loans.  Due to the fact that a large number of customers in need of financing do not have perfect credit, lenders had to provide a way to cater to the bad credit market.

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