Mortgage and Financial News From 2008-12-16 Page 01
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Lawmakers Grill Mortgage Chiefs Former Fannie, Freddie CEOs Explain ... - Washington Post
Former Fannie Mae chief executive Franklin D. Raines , encountering accusations from a congressional panel yesterday that he and his colleagues acted irresponsibly in making decisions that led to the housing crisis, blamed the federal regulator that ...
2008-12-10 01:00:00 -
Latest cut takes key rate as low as it goes - Boston Globe
The Federal Reserve, after slashing its key interest rate almost to zero, said yesterday it will now pursue unconventional actions that one economist called the "moral equivalent of printing money" to try to stop a quickening economic slide. The Fed ...
2008-12-16 10:57:00 -
Feds pursue mortgage fraud cases - Santa Rosa Press Democrat
Lost in the headlines are prosecutions proceeding quietly on the local level against smaller players. In dozens of jurisdictions around the country, federal prosecutors are charging hundreds of people with originating the bad loans that helped derail ...
2008-12-11 08:16:00 -
Fed cuts rate to virtually zero, will expand stimulus moves - Channel NewsAsia
WASHINGTON: The US Federal Reserve slashed its base lending rate to virtually zero on Tuesday while pledging to take further actions to get credit flowing and revive an economy in the worst recession in decades. The central bank's Federal Open Market ...
2008-12-16 07:51:00 -
US mortgage boss denies any blame - Focus Infomation
London. US mortgage giant Fannie Mae did not cause the crisis in the American housing market, its former boss has told a key Congressional committee, according to the BBC . By the time Fannie Mae had started its riskier loan investments in 2005, "the ...
2008-12-09 03:06:00 -
Fed cuts key interest rate to near zero - Associated Press
WASHINGTON (AP) -- The Federal Reserve has slashed its target interest rate to nearly zero and is taking a number of other unprecedented moves in an effort to battle a severe financial crisis and worsening recession. Consumers trying to buy a house ...
2008-12-16 11:19:00 -
Are we saved by zero? Fed hopes so as interest rate banks charge each ... - New York Daily News
Specialists work on the floor of the New York Stock Exchange on Tuesday. The Federal Reserve slashed two key interest rates to just about nothing Tuesday in yet another bid to jump-start the sputtering U.S. economy. "The Fed is sending a message that ...
2008-12-16 10:50:00 -
Fed steps up credit battle, drops rates to near zero (Zawya)
WASHINGTON, Dec 17, 2008 (AFP) - The Federal Reserve used up its ammunition on monetary policy Tuesday by slashing its base lending rate to virtually zero but pledged further efforts to stimulate credit and revive a moribund economy.
2008-12-16 10:51:50 -
Congressman-elect Calls For Bipartisanship In Washington (Highlands Today)
Lifting the country out of its economic woes won't be easy or quick, but it can be done with bipartisan cooperation in Washington, Congressman-elect Tom Rooney said as he visited the Highlands County commissioners meeting Tuesday morning.
2008-12-16 11:06:15 -
Madoff's Lessons For the Market (Washington Post)
Yes, but is it good for the Jews? That's the punch line of a long-running joke among those of us who grew up among Jewish parents and grandparents whose first reaction to almost any event would be to calculate how it would affect the tribe.
2008-12-16 11:09:04 -
Bad debts at HBOS rising as recession bites (Guardian Unlimited)
Mortgage and business customers of HBOS are having increasing difficulty making loan repayments, causing a dramatic rise in bad debts at the troubled banking group, which warned today that its debts would jump even higher as the economy deteriorates next year. As its embattled board prepared to address shareholders at an extraordinary meeting in Birmingham today, the bank also admitted its ...
2008-12-16 11:17:34 -
Commonwealth Bank Cuts Size, Price of Equity Sale (Update2) (Bloomberg)
Dec. 17 (Bloomberg) -- Commonwealth Bank of Australia , the nation’s biggest mortgage lender, was forced to cut the size and price of a stock sale after saying bad debts will rise.
2008-12-16 11:17:59 -
Fed cuts key interest rate to record low (St. Louis Post-Dispatch)
Policymakers will now pursue unconventional actions to try to stop a quickening economic slide.
2008-12-16 11:24:23 -
Television - Business (Scoop.co.nz)
The US Federal Reserve has slashed official interest rates and is set to spend hundreds of billions buying up bad loans in a desperate attempt to shore up the American economy.
2008-12-16 11:48:13 -
Billionaire Ford Shops for Banks as Government Welcomes Buyers (Bloomberg)
Dec. 17 (Bloomberg) -- Gerald J. Ford , who joined the billionaire ranks after selling his California thrift to Citigroup Inc. six years ago, now has $2 billion to buy banks and the regulatory authority to spend it.
2008-12-16 11:50:20