GLG News by Sub-Prime Lending Experts

In July, GM outlined a plan for cutting expenses and selling assets in an effort to raise cash which it is burning through rapidly.

The prior several years have definitely been a severe downturn (stating the obvious) in the destruction of existing housing prices. Bloated inventories, overextended borrowers, lack of decent funding, macro economics, lack of faith in the valuations have all contributed to this mess. But it...

Sovereign Wealth Funds (SWF) have a lot of money. So they can buy advice. What they do with it is another matter. Investing in Blackstone was investing in a reputable firm at a bad time. So short term the investment looks bad. Long term is the the time horizon of SWF and in the longer term it may...

Retail sales in July fell 0.1%, the first overall decline in five months, with the 2.4% plunge in automobile sales the primary reason for the poor performance.

Whenever the B-word--bankruptcy--is uttered in conversation about the Detroit Three automakers, there is a quick and predictable retort. "Bankruptcy is not an option."

With all of the bad news and dire predictions surrounding the Detroit Three, its good to occasionally find some good news to comment on.

Yes, it is a mess - I have seen about 3 or 4 cycles such as these over the last 30-years.  We have all seen this mess coming years ago. In 2004, a vast amount of mortgage originators were doing some very creative things to sell mortgages. HEOPA and high cost was in effect while these negative...

As the U.S. auto industry continues to deteriorate, automakers and suppliers aren't getting along as well as they used to.

Was there any good news in the past weeks automaker and auto retailers reports? Not much.

Many home builders are concerned that a provision in the new federal Housing Bill will reduce sales to borrowers that used phoney grants from charities to fund their downpayments.   The new legislation ends the circular charade of allowing builders and other home sellers...