Tougher to get credit; Lenders tighten the purse strings
March 27, 1990
<BODY>
Worried about the economic outlook and reeling under a growing mountain of bad loans, lenders are tightening credit. That's making it tougher for all kinds of borrowers - from home buyers to corporate raiders.
<HEADER:A269140>
Credit crunch: Could debate be all talk?
June 29, 1990
<BODY>
What's all this fuss about a credit crunch?
In the past several weeks, the Great Credit Crunch Debate - is there or isn't there a tightening of credit? - has taken on a life of its own.
<HEADER:A272211>
Economy: People are worried; But they're not hitting the panic button; 'Odds good' USA not in for recession
July 17, 1990
<BODY>
Worried about the fragile U.S. economy?
You've got a right to be. The economy has problems. But don't hit the panic button.
The resilient economy has scraped through tough times before without sinking into a recession. (Remember the stock market crash of Oct. 19, 1987?) And odds are good that it will make it through this latest whirlpool of soaring federal budget deficits, defense industry layoffs, anemic home sales and just plain awful auto sales.
<HEADER:A273785>
<ICON:G>
Recession jitters; Consumers bracing for tight times
July 25, 1990
<BODY>
Consumers are more nervous about the economy than at any time since the last recession ended in October 1982, a USA TODAY Poll shows.
Of 813 surveyed, 41% say they already are - or soon will be - postponing major purchases because they're worried about the economy.
<HEADER:A280436>
Consumers locking up their wallets
Aug. 28, 1990
<BODY>
The mighty U.S. consumer has stopped shopping as if there was no tomorrow.
Shaken by rumblings of war in the Persian Gulf, soaring gasoline prices and an economy in recession, consumers are hunkering down.
<HEADER:A313361>
<ICON:P>
Caution key culprit in credit crunch
Feb. 25, 1991
<BODY>
Customers say banks aren't lending. Bankers say they want to make loans, but customers won't borrow.
Is there a credit crunch or isn't there?
Experts say the credit crunch is still here, but it might not be as severe as some claim. Banks have money, but they're still making it much harder than in the past for many business and consumer borrowers to qualify for loans. Those who have the least credit are feeling the pinch the most.
<HEADER:A341793>
Where's the recovery? Struggle to survive dims confidence
Oct. 21, 1991
<BODY>
"This is the first time I can remember difficult economic times affecting me and my family so directly. ...
"My brother has been out of work for nearly a year now. ... My 22-year-old son who just graduated from trade school in May with an associate's degree in mechanical drafting has been unable to find work. ...
<HEADER:A346353>
Rich feel recession, too (but not like everbody else); Conspicuous consumption is declasse
Dec. 19, 1991
<BODY>
NEW YORK - Two stretch limos are lined up outside Le Cirque, the posh New York restaurant whose banquettes seat Beverly Sills, Ronald Perelman, Ivana Trump, Henry Kissinger and Barbara Walters, among others.
<HEADER:A348574>
Consumers in no mood for holiday cheer
Dec. 19, 1991
<BODY>
If Santa were living in the USA, he might be too depressed to hitch up the reindeer Tuesday night.
This is a blue holiday for a lot of people. The staggering economy has many, such as Richard Vance of Marion, Ohio, very worried.
<HEADER:A315811>
Tight credit stalls car sales; 'People want to buy,' but need money
March 12, 1991
<BODY>
If you think the USA's auto sales slump has created a buyer's market for cars and trucks, forget it.
Default-wary banks, credit unions and the car companies' financing arms are giving buyers a hard time. National Automobile Dealers Association chief economist Tom Webb says 30% to 35% of car-loan applications are being rejected. The normal turndown rate: 10% to 15%. And, even if you qualify to get a loan, you might get the third degree anyway - and be given a shorter-term loan with more money down and a higher interest rate than you paid on your last car loan.
<HEADER:A340605>
Banks blame credit crunch on regulators
Oct. 10, 1991
<BODY>
Bankers admit they're making it tougher to get loans, a USA TODAY survey of the nation's biggest bank-lobbying group shows.
But a lot of the bankers say regulators are forcing them to be tight - fisted. Others blame a shortage of good borrowers for a slowdown in bank lending.
The Federal Reserve Board is having a money sale, slashing interest rates to the lowest levels since 1973. But there's no line forming to the left. Or right.
On Wednesday, the Fed cut its discount rate - the rate it charges banks - for the fifth time in a year, to 4.5% from 5%. The rate is the lowest since 1973. Banks immediately cut prime lending rates to 7.5% from 8%, the lowest since 1986. The prime was at 10% a year ago. Although rates have fallen fast and far, borrowers are hard to find, and for good reason.
<HEADER:A366980>
Equity loans used to pare other debts
May 29, 1992
<BODY>
Spurred by the recession, high credit-card rates and tax reform, more consumers are tapping their home equity to consolidate other debts.
Debt consolidation has replaced home improvements as the top reason for getting a home-equity loan.
