Mortgage and Financial News From 2008-9-24 Page 01
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RBA says Australian banks are sound - News.com.au
THE Reserve Bank of Australia (RBA) has welcomed what it describes as unprecedented actions by US authorities to preserve financial stability in the US and ease the disruption in global credit markets. The RBA said in its semi-annual Financial ...
2008-09-24 08:51:00 -
No bailout for Romilda - Boston Globe
Yesterday, on a glorious, crisp autumn afternoon, Romilda Silva was holding a mop inside a sprawling colonial in Weston, the kind of house she will probably never live in, but which she cleans to make a living. She used to work 40 hours a week. Now ...
2008-09-24 10:38:00 -
PNB brakes on loans against property - Economic Times
MUMBAI: Banks have started taking proactive measures to prevent defaults in their real estate portfolio by cutting exposure to loans against property. State lender Punjab National Bank (PNB) has taken a lead and has stopped giving such loans, while ...
2008-09-24 08:44:00 -
Third-party deals mortgage football's future - Guardian Unlimited
Premier League football clubs are still using third-party arrangements to purchase players, even though the authorities cracked down on the practice following the Carlos Tevez affair, and the current method is far more damaging to clubs' financial ...
2008-09-24 06:28:00 -
Help sought for struggling homeowners - Los Angeles Times
WASHINGTON -- Lawmakers, housing advocates and both presidential candidates are demanding that any bailout for financiers on Wall Street needs to help homeowners on Main Street too. But it's easier said than done. The main proposals for helping ...
2008-09-24 10:31:00 -
Countrywide Made Home Loans to Gorelick, Mudd - Wall Street Journal
Countrywide Financial Corp., the biggest U.S. mortgage lender, made large, previously undisclosed home loans to two additional executives of Fannie Mae , the government-chartered firm at the center of the U.S. credit crisis. One of Countrywide's ...
2008-09-24 10:38:00 -
State mortgage industry awaits details on bailout - AZCentral.com
Arizona's mortgage industry is facing a crisis of still-unknown proportions, local experts say, with lenders awaiting details of a proposed $700 billion federal buyout of delinquent loans and failing mortgage-backed investments. Lending capital has ...
2008-09-24 09:27:00 -
HOUSE OF CARDS - New York Post
HOW did America wind up in its worst financial crisis in decades? Sen. Barack Obama explained it this way last week: "When sub-prime-mortgage lending took a reckless and unsustainable turn, a patchwork of regulators systematically and deliberately ...
2008-09-24 09:20:00 -
Full text of President Bush's economy speech (Idaho Press-Tribune)
9:01 P.M. EDT THE PRESIDENT: Good evening. This is an extraordinary period for America's economy. Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration. We've seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As ...
2008-09-24 10:52:14 -
Wells Fargo offers aid (Friendswood Journal)
Wells Fargo is offering special assistance to qualified customers affected by Hurricane Ike for communities in 28 Texas counties, including Angelina, Austin, Brazoria, Chambers, Cherokee, Fort Bend, Galveston, Grimes, Hardin, Harris, Houston, Jasper, Jefferson, Liberty, Madison, Matagorda, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Trinity, Tyler, Walker, ...
2008-09-24 10:56:57 -
Adviser says Obama will provide oversight (Times Leader)
SCRANTON – Calling Pennsylvania an “important and pivotal state” in the presidential election, Democratic nominee Barack Obama’s chief adviser on the economy, Roger Altman, said Wednesday that Obama can be trusted to restore American prosperity.
2008-09-24 10:57:23 -
DAILY EXPRESS NEWS (Sabah Daily Express)
Kuala Lumpur : Share prices on Bursa Malaysia were mixed at close Wednesday amid global concerns about slower economic growth due to higher crude oil prices and battered US financial system.
2008-09-24 10:57:53 -
Japanese banks hunting again for overseas deals (The Star)
TOKYO (AP) - Back in the 1980s, when Japan found itself flush with unprecedented wealth, it splurged on flashy overpriced trophies like Rockefeller Center and the Pebble Beach Golf Links.
2008-09-24 11:03:02 -
Forums scheduled for sub-prime mortgage holders (Journal Inquirer)
The Connecticut Housing Finance Authority will hold two area forums for homeowners with sub-prime adjustable rate mortgages looking to convert their debt to 30-year fixed loans.
2008-09-24 11:03:29 -
Asian Money Rates Surge as Bailout Doubt Tightens Cash Squeeze (Bloomberg.com)
Sept. 25 (Bloomberg) -- Money market rates in Asia's biggest financial centers jumped on concern that U.S. lawmakers may delay or dilute the Treasury Department's $700 billion plan to bail out the banking system.
2008-09-24 11:04:09