Mortgage and Financial News From 2008-10-21 Page 01
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Fed's Bullard: Don't rely on rates to fight crisis - Forbes
MEMPHIS, Oct 14 (Reuters) - The U.S. economy risks a protracted slump if government action fails to counter the credit crisis, but the Federal Reserve should not cut interest rates any further, a top Fed official said on Tuesday. "Overreliance on ...
2008-10-13 07:58:00 -
U.S. faces a tricky balancing act - International Herald Tribune
Before the current financial crisis, the United States carried enormous trade deficits, and investors from other countries gorged themselves on dollar-denominated assets. Those imbalances were already starting to readjust in the past year as the U.S ...
2008-10-21 07:13:00 -
Inflation hits 16-year high - Reuters UK
LONDON (Reuters) - Inflation hit a 16-year high of 5.2 percent in September, but that is likely to be the peak and interest rates are still expected to come down sharply over the next few months in order to prevent a deep recession. The Office for ...
2008-10-15 03:21:00 -
Do Not Count Out Commodities - Forbes
Canadian Trust buying time? Click here to get a FREE copy of a special report "Top 3 Yield Gushers to Fatten Your Wallet." There is a pervasive, and admittedly seductive, argument floating around that the U.S. is headed for a dire bout with deflation ...
2008-10-21 03:52:00 -
Fitch Rates Michigan's $1.425B GO Notes 'F1+' - PR Inside
- Fitch Ratings assigns an 'F1+' rating to the State of Michigan's (the state) $1.425 billion full faith and credit general obligation (GO) notes, fiscal 2009, series A. The notes are expected to be offered through negotiation on Oct. 28, 2008. The ...
2008-10-21 08:17:00 -
Inflation pace may limit RBA interest rate cut move - The Australian
INFLATION hit its highest level last quarter since 1995, but it's not expected to stop the Reserve Bank from cutting interest rates. Forces seem now to be building that will start to dampen pressures on prices,even though we won't have evidence for ...
2008-10-21 11:02:00 -
Annual inflation jumps to 5 per cent - News.com.au
INFLATION has hit its highest level since 1995, but it is not expected to stop the Reserve Bank of Australia from cutting interest rates. The inflation rate for the September quarter hit 1.2 per cent, which took the yearly rate to 5 per cent, the ...
2008-10-21 10:26:00 -
Malaysia May Refrain From Cutting Rates Even as Inflation Slows - Bloomberg
Oct. 22 (Bloomberg) -- Malaysia's central bank may keep its benchmark interest rate unchanged even as inflation eases, refraining from joining policy makers around the region in cutting borrowing costs to boost flagging economies. Bank Negara ...
2008-10-21 05:47:00 -
FRENCH LEADER CALLS FOR 'ECONOMIC GOVERNMENT' FOR EUROZONE (Tocqueville Connection)
STRASBOURG, Oct 21, 2008 (AFP) - French President Nicolas Sarkozy called Tuesday for an "economic government" to oversee the 15-nation eurozone and urged EU countries to take stakes in strategic companies as the financial crisis bites.
2008-10-21 10:46:39 -
Obama campaign on the trail promoting rescue plan (Greencastle Banner-Graphic)
Gail Smith, owner of Almost Home in Greencastle, has been a business owner for 18 years. She has 56 employees and says she cannot afford health care coverage for them. When she applied for a small...
2008-10-21 11:06:19 -
John McCain in the World Series of Scare Tactics and Distortion (Elite TV)
The Philadelphia Phillies aren't the only ones getting ready for the fall classic. John McCain brought his campaign to Pennsylvania today and it was clear that they are gearing up for their own World Series - the World Series of Scare Tactics and Distortion.
2008-10-21 11:12:37 -
U.S. Moves To Break Credit Logjam (CBS 13 Sacramento)
A week after the government announced it would spend $250 billion to buy stakes in U.S. banks, the Fed stepped up Tuesday to help money market funds that have been squeezed by worried investors demanding to cash out their holdings. Meanwhile, the Treasury named two accounting firms to help manage the $700 billion bailout package.
2008-10-21 11:13:08 -
EDC closes on $2.8M deal for local park (Grand Island Independent)
The Grand Island Area Economic Development Corp. closed Tuesday morning on the purchase of 1,335 acres at the former Cornhusker Army Ammunition Plant west of Grand Island.
2008-10-21 11:13:35 -
Taming Wild Markets (Part I) (The Globalist)
The roots of the current financial crisis lie in bad mortgage practices — as well as a lack of oversight into the financial innovation which allowed the growth of new financial instruments. In the first of two parts, Bernard Wasow explains the ill-advised practices of the U.S. mortgage market.
2008-10-21 11:15:55 -
Charity dries up as crisis worsens (The Advertiser)
THE Wesley Mission has had its busiest year and is struggling to cope as the number of people in need stretches resources in a worsening financial climate.
2008-10-21 11:25:41