The collapse of the financial sector could cost the country up to 18% of GDP while a shortage of credit will damage the rest of the economy, creating fresh losses for banks and raising doubts about debt sustainability even if a deal with the euro zone is agreed.
Remember that checking your credit report won't damage your credit score.
By reducing the panic-induced part of widening credit-spreads, the new liquidity tools mitigate the damage that dysfunctional credit markets would otherwise wreak on the economy.
It argued that a slowdown would do little damage to the credit standing of many of the region's governments.
Losses were huge both inside and outside of China, and in the ensuing credit tightening, the collateral damage was not limited to the malign and the corrupt.
Facing rising borrowing costs for its public debt, and damage to its credit score, Spain can ill-afford to raise the money its banks need to meet Europe-wide capital requirements.
When one fund broke that promise after Lehman Brothers collapsed, the run on money funds threatened to do so much damage to the credit markets that the Fed felt compelled to step in.
Bank of America will defend itself saying disclosures over mortgage bonds issued by Countrywide were sufficient for big investors like AIG, but the problem is Bank of America has become a prime target for large institutions seeking to limit the damage of the credit crisis.
This is an example of how the most critical factor in repairing the damage done by the credit crisis of 2008 is time.
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Mostly, it seems, because investors are willing to give Mattel a lot of credit for acting decisively to contain the damage from China.
Despite the credit rating, investors fear that punitive-damage awards could cripple the industry, or even wipe it out.
Banks have to work out the cost of the damage done by years of easy credit and gorging on complicated financial products (see article).
Thus, was eager to learn how the locals regarded the credit crunch and resulting (or not) economic damage.
Profit reports out this week indicate that while the damage from the recent subprime meltdown and credit crunch is not as bad as feared, recovery is still a ways off.
Here's the problem: Bernanke and Paulson insist that the economy will stave off a recession, while at the same time admitting that the extent of the damage wrought by the mortgage meltdown and credit crunch are far from known.
But Bloomberg New Energy Finance said the damage from the uncertainty around whether the tax credit would be extended has already slammed the industry and the boom of 2012 is unlikely to be repeated this year.
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Bank of America's deal for Countrywide in January was certainly looked upon favorably by the Fed and other regulators, who were concerned that a liquidity-constrained Countrywide could further damage the financial markets already reeling from the credit crunch.
The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises.
Now, in a survey of more than 600 small business owners and executives, the Ponemon Institute has tried to put a number on the cost of credit card account fraud for those vulnerable targets, comparing the damage with the cost of physical theft by employees or burglars.
The low limits combined with the collateral limit the damage the cardholder can do, but can help establish credit.
However, it is the familiar such as a credit card or native currency that often incurs the most financial damage for unsuspecting travelers.
Some firms weathered it much better than others: America's Citigroup and Switzerland's UBS experienced severe losses whereas JPMorgan Chase and Credit Suisse (also in America and Switzerland respectively) suffered far less damage.
While the damage might be relatively minimal after only two missed payments, your credit score may fall as much as 125 points after three.
Credit Suisse's fourth-quarter figures, published on February 25th, show the damage done by the excesses of its investment bank.
Clearly, the brutal financial damage that swept the financial community due to unregulated, little-understood derivative contracts like credit default swaps is one of the most controversial issues of the financial meltdown.
The fact of the matter is we could not have been clearer leading up to the compromise on lifting the debt ceiling that there would be danger and damage done simply by playing chicken with our economy, playing chicken with the full faith and credit of the United States.
The demands for cash post-Sandy have come from customers who have fewer withdrawal options thanks to power outages and storm damage, and businesses that are accepting cash only due to communications woes that leave them unable to accept credit and debit cards.
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