Mortgage and Financial News From 2009-3-16 Page 01
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Dodd's Safe Perch Is Shaken by Bailout - Wall Street Journal
As Washington wrestles with a once-in-a-generation financial meltdown, Sen. Chris Dodd has as much riding on the outcome as anyone on Capitol Hill. As Senate Banking Committee chairman, the Connecticut Democrat will be able to claim credit for new ...
2009-03-16 09:56:00 -
Where is AIG spending that money? - Marketplace.publicradio.org
Kai Ryssdal: And alright, they're not all fat bonuses. Some of the folks at the AIG Financial Products unit -- the group that's largely been responsible for taking that company down -- are getting as little as $1,000. Others, though, are getting way ...
2009-03-16 06:21:00 -
Wachovia Sued Over 'Bad-Faith' Charging of Overdraft Fees - Law.com
At the end of Oct. 24 last year, Fulton County, Ga., resident Ken Vollmer had $229.01 in his Wachovia bank account, according to his online statement. Three days later -- after weekend expenditures totaling $297.56 and an $85.56 refund -- Vollmer's ...
2009-03-16 09:06:00 -
Freddie Mac Posts Wider Q4 Loss on Bad Loans - Smart Money
Mortgage giant Freddie Mac's (FRE) fourth-quarter net loss widened sharply on surging investment and credit losses, bringing its loss for the year to $50.1 billion as the company warned that funding from the U.S. Treasury may not be enough to keep it ...
2009-03-10 07:54:00 -
Peter J. Van Laarhoven: Who’s to bless? Who’s to blame? - La Crosse Tribune
Rush Limbaugh and conservative pundits on Fox News are selling yet another rewrite of history. They blame the current economic crisis on the Democrats for pushing government loans to low-income home buyers. They proclaim that these bad loans led to ...
2009-03-16 11:08:00 -
Good idea that turned bad - Financial Times
A couple of years ago, one of the more brilliant minds at Merrill Lynch made a striking confession. “The problem with credit markets is that we still don’t understand correlation,” he told British academics. “That is unfortunate because ...
2009-03-16 05:10:00 -
David Prosser: Loan insurance is another disgraceful banking scandal (Independent)
Outlook Not since the personal pension debacle of the early 1990s has there been such a systematic attempt to mislead and mis-sell to consumers. What a shame that it is the financial services industry that is once again at fault.
2009-03-16 08:13:50 -
Wachovia Sued Over 'Bad-Faith' Charging of Overdraft Fees (Law.com)
A federal bad-faith bank fee suit filed against Wachovia joins similar suits pending across the U.S. against Wachovia as well as Bank of America and Wells Fargo, accusing the banks of deceptive practices intended to maximize profits at the expense of customers and challenging bank policies governing the assessment of overdraft fees. Last year, Bank of America set aside $35 million to settle a ...
2009-03-16 08:25:17 -
Men Caught On Camera Using Stolen Credit Card (News Channel 5 Cleveland)
Police are looking for two men caught on camera shopping with a stolen credit card.
2009-03-16 08:47:51 -
Top Scoops (Scoop.co.nz)
On the March 15 CBS show "60 Minutes", Federal Reserve Chairman Ben Bernanke used a false analogy already popularized by President Obama in his quasi-State of the Union Speech.
2009-03-16 09:01:00 -
Banks need to be stable first before lending (KGO-TV Bay Area)
Fed. Chairman Ben Bernanke said the key to recovery is stable markets and banks.
2009-03-16 09:26:20 -
Taxpayers unlikely to befully repaid in AIG mess (Journal Gazette & Times-Courier)
Pressure is mounting on the government to revise its bailout of AIG to ensure that taxpayers are repaid as much as possible of the $170 billion lent to the troubled insurer.
2009-03-16 10:37:28 -
Police beat for March 17, 2009 (Brigham Young NewsNet)
March 15: A rock was thrown through the passenger window of a BYU police car parked near the Smith Fieldhouse. Nothing was stolen, but damage to the car is valued at $300.
2009-03-16 10:54:39 -
Under 35? Hurray for the meltdown! (MSN Money Canada)
If you're a young adult, the economic clouds have silver linings: You've got time to recover from the market's losses, and you can snag a great deal on your first house.
2009-03-16 11:13:45 -
Mortgage and equity calculators - BBC News
Use our mortgage calculator to see what your monthly payments could be if you take out a new loan, move home, or if interest rates change. Use the equity calculator to see how much value there could be in your home if the property market rises or ...
2009-03-16 07:04:00