The publishing industry is experiencing an new and booming business in e-books. According to Forrester Research, consumers spent $1 billion on e-books in 2010. That number is expected to triple by 2015. In the US there were about 10 million e-readers in circulation in 2010, triple that of 2009.

The two leading players in the e-reader market are Amazon (AMZN) with its Kindle and Barnes and Noble's (BKS) Nook. With these readers a single reader can use the reader or a friend can be added as long as they know each other's email, according to the Wall Street Journal.

Continue reading e-Book Lending -- the Next New Thing

e-Book Lending -- the Next New Thing originally appeared on BloggingStocks on Fri, 11 Mar 2011 14:00:00 EST. Please see our terms for use of feeds.

Continue reading Libor Rises for 12th Straight Day

Libor Rises for 12th Straight Day originally appeared on BloggingStocks on Wed, 26 May 2010 16:30:00 EST. Please see our terms for use of feeds.

Continue reading In the U.S, the wheels of commerce move swiftly; public policy? Slowly

In the U.S, the wheels of commerce move swiftly; public policy? Slowly originally appeared on BloggingStocks on Wed, 16 Dec 2009 17:30:00 EST. Please see our terms for use of feeds.

The Federal Reserve Open Market Committee (FOMC) issued its statement indicating again that interest rates will remain low for an extended period of time. The decision was unanimous.

The Fed continues to avoid any potential language which could disrupt the financial markets. Chairman Bernanke, a student of the Great Depression, does not want to do anything to damage the current stabilization in the economy.

Continue reading The Fed decision: Ending extraordinary measures but no monetary tightening

The Fed decision: Ending extraordinary measures but no monetary tightening originally appeared on BloggingStocks on Wed, 16 Dec 2009 17:00:00 EST. Please see our terms for use of feeds.

"I don't think any bank in this country is soliciting loans," he added "Banks are bragging about the fact that they're making loans and they're not making loans."

Continue reading Donald Trump says it's time to force banks to start lending

Donald Trump says it's time to force banks to start lending originally appeared on BloggingStocks on Tue, 01 Dec 2009 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Ray of light: More evidence that credit markets are normalizing

Ray of light: More evidence that credit markets are normalizing originally appeared on BloggingStocks on Thu, 13 Aug 2009 18:30:00 EST. Please see our terms for use of feeds.

You've probably seen or heard about all the money the federal government has loaned to banks, whether through TARP (Troubled Asset Relief Program) or other acronyms. Hundreds of billions of dollars flowed into the banking system through the back door. Yet very little of it seems to be going out the front door to consumers for mortgages or cars or other reasons for which we all used to borrow. What are the banks doing with that money and why aren't they getting looser with credit instead of tighter?

Two things dominate all others for banks: yields and capital in reserve for potential losses. Yields have to do with making the most return for the money loaned. Right now that isn't in new mortgage originations. With yields below 6% for most mortgages, there's little incentive for banks to make those loans. That's because there are plenty of other investments that yield 8%, 9% or more that are backed by mortgages and spread risk much better than a single family mortgage that relies on one or two people keeping their jobs to make the monthly payments. Those other investments are called mortgage backed securities.

Continue reading Comfort Zone Investing: Why banks aren't lending

Comfort Zone Investing: Why banks aren't lending originally appeared on BloggingStocks on Sat, 01 Aug 2009 10:30:00 EST. Please see our terms for use of feeds.

• $2.5 million variable-rate loan, with up to 100% financing for 3 investment partners, for a 10-unit speculative condominium complex in Fairfield County, Connecticut.

Continue reading Liquidity crisis is over; lending crisis, not quite

Liquidity crisis is over; lending crisis, not quite originally appeared on BloggingStocks on Fri, 24 Jul 2009 15:40:00 EST. Please see our terms for use of feeds.

For the fourth month in a row, Bank of England interest rates will remain at the record low of 0.5%. In an announcement today, the UK's central bank said it would not expand its quantitative easing of financial markets, much to the surprise of the market. The bank has been buying up assets aggressively, printing cash to finance what is likely to be £125 billion in purchases by the end of this month.

Financial markets expected a much different play, involving an increase in this asset purchase target by another £25 billion (to £150 billion). This move would have let the Bank of England shove even more money into the economy through next month, which is when the bank publishes its latest quarterly economic forecast.

Continue reading Bank of England surprises: No expansion of quantitative easing

Bank of England surprises: No expansion of quantitative easing originally appeared on BloggingStocks on Thu, 09 Jul 2009 11:30:00 EST. Please see our terms for use of feeds.

Retail sales took an unexpected downward turn in May in the United Kingdom -- for first time in three months. Cautious banks appear to be the problem, as their rationing of credit is impeding broader economic recovery. Retail sales fell 0.6% from the previous month, while economists had predicted a 0.3% change in the other direction.

Year-over-year, retail sales were off 1.6%. Sales for the year are down 1.1%, the greatest decline since score-keeping began in 1988. Of course, there's plenty of fodder for rationalizing the results. The annual change was affected by an "unusually large" retail sales estimate for May 2008. Clothing, textile, and footwear retailers and department stores led the plunge, with nonfood store sales off 1.4%, compared to a 0.3% increase in food retail sales.

Continue reading Banks putting pressure on UK retail sales

Banks putting pressure on UK retail sales originally appeared on BloggingStocks on Thu, 18 Jun 2009 14:10:00 EST. Please see our terms for use of feeds.

Continue reading Is the end to the recession on the horizon?

Is the end to the recession on the horizon? originally appeared on BloggingStocks on Fri, 10 Apr 2009 17:00:00 EST. Please see our terms for use of feeds.

Bank of England lowers interest rates to lowest point since The Revolution originally appeared on BloggingStocks on Fri, 09 Jan 2009 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Loans: There is more capital than courage -- or good sense

Loans: There is more capital than courage -- or good sense originally appeared on BloggingStocks on Thu, 18 Dec 2008 17:50:00 EST. Please see our terms for use of feeds.

Continue reading Foreclosure rate jumps in third quarter

Foreclosure rate jumps in third quarter originally appeared on BloggingStocks on Thu, 23 Oct 2008 15:40:00 EST. Please see our terms for use of feeds.

If overnight interest rates do not fall as a result of the Fed's guarantee for commercial paper and related efforts to create incentives for banks to lend, the leaders of world's central banks and treasury departments may have to try a more creative approach to end the financial crisis: a global distressed asset summit.

As economist David H. Wang told BloggingStocks Wednesday, the major economies may have to hold a global 'out & price' summit to get distressed and bad assets -- the source of so many of the defaults and resultant fear among banks -- out of the financial system.

The problem, Wang said, is not just that the subprime and Alt-A mortgage backed securities represent distressed and bad debt, it's that "banks and other financial institutions can't determine the value or price of many of these securities."

Unknowns about toxic assets driving fear

Wang believes that "lack of certainty about price is the biggest factor in banks' unwillingness to lend."

"Banks can't determine the price of these assets, it represents a big uncertainty, therefore because they're uncertain regarding what their competitor banks hold, they aren't lending, and they're charging higher rates for short-term loans," Wang said. "Both are restricting commerce and will continue to slow economies all over the world if the problem is not addressed."

Continue reading We need a global summit to get toxic assets out of the system

We need a global summit to get toxic assets out of the system originally appeared on BloggingStocks on Wed, 08 Oct 2008 13:50:00 EST. Please see our terms for use of feeds.

Picture an industry where you raise capital then assertively invest that capital to the tenth degree, highly leveraged.

What's more, you take large risks, investing in one speculative project after another, sometimes in regions of the country that are showing signs of a loss of economic momentum.

And all the while, you collect a handsome fee for each investment project.

Even better, if the investments work out, you're enormously profitable, and a large bonus heads your way by the end of the year.

And if the investments turn out to be foolish and don't work out? Noooo problem. Noooo problem at all: the U.S. government will step in and take over your business, make peace with your business's creditors and share holders, while you're free to take on an executive post in another corporation.

Does the above remind you or any business/sector you know. Yes, that's right: it's the U.S. banking sector as currently configured.

Continue reading Is it time for 'two-tier' banking?

Is it time for 'two-tier' banking? originally appeared on BloggingStocks on Sat, 20 Sep 2008 17:40:00 EST. Please see our terms for use of feeds.

Continue reading Banks becoming hesitant to lend on belief credit losses will increase

Banks becoming hesitant to lend on belief credit losses will increase originally appeared on BloggingStocks on Mon, 25 Aug 2008 11:01:00 EST. Please see our terms for use of feeds.

With all the negative headlines that the subprime lending industry is getting lately -- and deservedly so -- it's easy to forget about how important it is. Without question, the availability of credit can be an extremely potent force in the battle for upward mobility.

For 25 years, Muhammad Yunus's Grameen Bank have been doing subprime lending right: making small loans to people in developing countries to give them a chance to start their own businesses and provide for their families -- About 97% of Grameen's borrowers are women.

This weekend's Wall Street Journal reports that "Mr. Yunus has now brought Grameen to this borough of New York City. Since taking off in January, Grameen America has lent out a total of $145,000, with interest rates at around 15% on the declining loan balance. The money will be used for everything from taxi registrations to sewing machines."

Reading Mr. Yunus's interview with the Journal -- where he opines on the American subprime mess -- I can't help but feel crotchety about how badly we have messed up lending in this country. Yunus has built an institution with an extremely low default rates based on loans to driven entrepreneurs.

Continue reading The sweeter side of subprime lending

The sweeter side of subprime lending originally appeared on BloggingStocks on Sat, 01 Mar 2008 15:40:00 EST. Please see our terms for use of feeds.

Credit Suisse (NYSE: CS) believes that the global credit crisis will bottom in a few months. Brady Dougan, the bank's CEO, said in an interview in the Neue Zuercher Zeitung that "he was an optimist and it could take three, four, five months before the crisis bottomed out," according to Reuters. He indicated that an improvement in housing prices in the U.S. would help matters.

Credit Suisse management carries some weight with its predictions. It is one of the few large global banks that has not taken massive write-offs due to the subprime crisis. Its leaders are therefore viewed as being "smart" compared to most of their counterparts at other banks.

The problem with the prediction is that it relies to some significant extent on improvements in the U.S. housing market. This could take some pressure off the subprime lending market. But, many experts believe the real estate problems here could extend well into 2009.

In other words, Mr. Dougan could be off by more than a year.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Credit Suisse sees credit crisis ending soon originally appeared on BloggingStocks on Sun, 17 Feb 2008 13:40:00 EST. Please see our terms for use of feeds.

Prosper.com puts private lenders in touch with borrowers originally appeared on BloggingStocks on Mon, 11 Feb 2008 17:58:00 EST. Please see our terms for use of feeds.