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What Banks’ Action Means For Consumer Credit

Europe’s debt problems could soon spill over into the pockets of U.S. consumers. Beyond trying to shore up Europe’s debt woes, the central banks’ action today is also aimed at ensuring availability of credit to U.S. households. But experts warn that help may fall short.

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In its statement today, the Federal Reserve said the latest step – in which major central banks made it easier for banks to get dollars if they need them — is intended to lessen the “strains on the supply of credit to households.” But consumers shouldn’t get excited, experts say. There’s no sign that getting credit cards, car loans or mortgages will become any easier. At best, these steps are designed to prevent credit from getting any tighter, and effectively maintaining the status quo, says Greg McBride, senior financial analyst at Bankrate.com. “What they’re trying to do is stay ahead of and prevent a global credit crunch,” he says.

For consumers, the possible outcomes vary greatly. The best-case reality for the next few years is that credit standards will remain the same. That means consumers will have to continue to meet the tight standards set by lenders including high FICO scores and low debt levels, says Odysseas Papadimitriou, chief executive at CardHub.com, a credit card comparison web site.

Then there’s the worst-case scenario if a European Union country does default. Mike Moebs, economist at Moebs Service, an economic research firm, describes a bleak chain of events: “If Europe goes down, we go down — meaning credit will completely lock up.” But what’s more likely, he says, is that credit will become more expensive and harder to get. On car loans – which have fewer consumer protections than credit cards — lenders could require higher credit scores than they ask for now, they might ask for cosigners, or even add extra fees, he says. He adds that fees on mortgages could rise as well.

But some experts say a return to a full blown credit crunch is highly unlikely. Cameron Findlay, chief economist at LendingTree.com, points out that banks have more liquidity now than they did post-Lehman Brothers. On the mortgage front, Findlay points out that the ongoing European debt woes could continue to help mortgage borrowers by keeping rates low.

The bottom line for consumers is that access to affordable credit, with low rates and fees, will remain available to those with the best credit, experts say — barring any major economic surprise. “It’s a very fluid situation and one that could change for the worse very quickly under unfavorable scenarios,” says McBride.

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    • By WebOsPublisher

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    • By WebOsPublisher

      How To Extract Icons From Exe Or Dll Files Using ExtractAssociatedIcon ??
      В В |В 
      Sign in
      Dev Center
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      Dev Center >
      Windows Forms Forums
      >
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      >
      How To Extract Icons From Exe Or Dll Files Using ExtractAssociatedIcon ??
      How To Extract Icons From Exe Or Dll Files Using ExtractAssociatedIcon ??
      Search Windows Forms General Forum
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      Ask a question
      Wednesday, August 23, 2006 1:46 AM
      0
      Sign In to Vote
      Hello ..
      В 
      I Use ExtractAssociatedIcon To Extract Icons from exe files ..
      В 
      but i want to know how to use it to extrcat the second and thered and forth and fifth icon from exe or dll icon ..
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      i use it like this ..
      Me.Icon = System.Drawing.Icon.ExtractAssociatedIcon("C:\Windows\Explorer.exe")
      В 
      I Tried To Use it like this but it didn’t work :
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      Me.Icon = System.Drawing.Icon.ExtractAssociatedIcon("C:\Windows\Explorer.exe, -5")
      В 
      Thanks , with best regards ..
      Reply
      Quote
      All Replies
      Wednesday, August 23, 2006 2:11 AM
      0
      Sign In to Vote
      hello mohdtmn
      this will be good sample
      codeproject.com/dotnet/Extracting_Embedded_Image.asp
      В 
      Reply
      Quote
      Wednesday, August 23, 2006 2:47 AM
      0
      Sign In to Vote
      thanks for your replay ..
      В 
      but this was not helpful ..
      It Can’t work with all files ..
      for examble i tried to open :
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      c:\windows\system32\shell32.dll
      it says : the specified file is not a .net assembely ..
      and it’s made only to take icons from .net Programs only !!
      В 
      waiting for a solution ..
      regards , and thanks
      Reply
      Quote
      Wednesday, August 23, 2006 5:26 AM
      0
      Sign In to Vote
      There is a API to extract icon, you can try. To call this API, you need import shell32.dllHICON ExtractIcon(
      HINSTANCE hInst,
      LPCTSTR lpszExeFileName,
      UINT nIconIndex
      );
      Reply
      Quote
      Wednesday, August 23, 2006 7:41 AM
      0
      Sign In to Vote
      I have a bit of code that uses windows ImageList cache, but it’s way to big to put here.
      Contact me at andrew(dot)vos(at)gmail.com and I’ll send you the source… (It’s in vb.net)
      It can extract small, medium and large icons from associated files.
      Oh wait a minute, from exe files this will only extract the associated icon :( sorry.
      Reply
      Quote
      Thursday, August 24, 2006 12:27 PM
      0
      Sign In to Vote
      Check out Steves’ Icon Extractor utility, really nice implementation…
      vbaccelerator.com/home/NET/Utilities/Icon_Extractor/article.asp
      Reply
      Quote
      Sunday, August 27, 2006 1:47 AM
      0
      Sign In to Vote
      Wang Chi how to do it in vb.net ? i really tried ..
      AndrewVos I Sent you an e-mail
      Dylan Morley That’s a very nice sample , but it’s in c language also it’s made for vs 2002 and when i converted it to vs 2005 the project is full with problems ..
      thanks guys for help ..
      regards .
      Reply
      Quote
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