Mortgage and Financial News From 2008-6-3 Page 01
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We will foot the bill for banks' excesses - Daily Telegraph
Financial turbulence does not always spill over into the real economy. Sometimes, central banks fend off further problems. Not this time, though. Despite the billions poured into the markets since the sub-prime crisis blew up last summer, the ...
2008-06-03 08:56:00 -
Wachovia's mistake spotlights Countrywide deal - Baltimore Sun
CHARLOTTE, N.C. - It's the most basic rule of investing: Buy low, sell high. Former Wachovia Corp. chief executive Ken Thompson couldn't escape his disastrous decision to buy Golden West Financial Corp. for roughly $25 billion at the height of the ...
2008-06-03 10:29:00 -
Mortgage turmoil snares Ed McMahon - Los Angeles Times
Ed McMahon, the longtime sidekick to Johnny Carson on "The Tonight Show," is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills estate. McMahon defaulted on $4.8 million in mortgage loans with a unit of Countrywide Financial Corp ...
2008-06-03 10:36:00 -
State Sues Option One - Wall Street Journal
Massachusetts' attorney general filed a lawsuit alleging that subprime lender Option One Mortgage Corp. and its parent company, H&R Block Inc., discriminated against black and Latino borrowers. The suit, filed by Attorney General Martha Coakley in ...
2008-06-03 08:35:00 -
Australian Regulator Gets More Control Over Lending (Update1) (Bloomberg.com)
June 4 (Bloomberg) -- Australia's corporate regulator will be given more authority to police the nation's A$32.6 billion ($31 billion) margin lending industry in the wake of share price collapses at companies including Allco Finance Group Ltd.
2008-06-03 08:51:41 -
ALL BUSINESS: Wachovia, WaMu executive shakeups (The Times and Democrat)
NEW YORK - Wachovia’s CEO gets fired, while Washington Mutual’s top executive is stripped of his chairman’s title. And guess what? Investors don’t feel any better about the either company’s prospects.
2008-06-03 09:23:26 -
Steve Bartlett leads financial services lobby on housing (Dallas Morning News)
WASHINGTON – To those who denounce Congress' intervention in the housing market, accusing lawmakers of fashioning a bailout, Steve Bartlett offers a history lesson.
2008-06-03 09:23:45 -
Special Focus Region’s banks hold their own amid national uncertainty (BusinessNorth)
While most stayed away from risky loans, at least two financial institutions have paid the price for bad investments in Florida.
2008-06-03 09:26:51 -
Late CEO's mortgage company faced several legal disputes (The Arizona Republic)
The firm led by the late Scott M. Coles includes some of the Valley's highest-profile properties.
2008-06-03 09:55:47 -
Newark brains behind mortgage scam admits guilt (The Star-Ledger)
The accused mastermind of a million-dollar mortgage scam involving dozens of run-down houses pleaded guilty yesterday to mail fraud.
2008-06-03 10:02:42 -
Political Cartoon (Creston News Advertiser)
Parent survey results In this month’s article I will be reporting the results of the Parent Survey (taken during the March parent/teacher conferences). Results of the past two years will also be placed around the community for our patrons and visitors to review.
2008-06-03 10:10:34 -
A tale of 2 banks, 2 mortgage lenders (The Times and Democrat)
CHARLOTTE, N.C. (AP) — It’s the most basic rule of investing: Buy low, sell high.
2008-06-03 10:46:25 -
Bernanke Over Borat for Harvard '08 Means No Faustian Bargain - Bloomberg
June 4 (Bloomberg) -- Harvard University seniors will leave school with the benefit of advice from someone who can help their job prospects: Federal Reserve Chairman Ben S. Bernanke . The Fed chief, a 1975 Harvard graduate, was chosen by a student ...
2008-06-03 09:18:00 -
Dollar Rises on Bernanke's Warning, Factory Growth - CNBC
The dollar advanced broadly on Tuesday after Federal Reserve Chairman Ben Bernanke warned about the inflationary impact of a weak currency, suggesting the central bank is not likely to cut interest rates further this year. iStock In a speech before ...
2008-06-03 04:03:00 -
Dollar jumps as Bernanke signals no more rate cuts - San Diego Union-Tribune
NEW YORK – The dollar got a bounce Tuesday after Federal Reserve Chairman Ben Bernanke said inflation was a primary concern and signaled further interest rate cuts were unlikely. The 15-nation euro slid to $1.5470 in late New York trading Tuesday ...
2008-06-03 03:13:00