Mortgage and Financial News From 2008-10-10 Page 12
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Harper says $25B bank deal is not bailout (CTV British Columbia)
Prime Minister Stephen Harper is insisting a government deal to buy $25 billion worth of mortgage debt from Canadian banks is an asset swap rather than a bailout.
2008-10-10 08:28:46 -
Lehman Swap Auction Initial Results Show Payout of 90.25 Cents (Bloomberg)
Oct. 10 (Bloomberg) -- Sellers of credit-default protection on bankrupt Lehman Brothers Holdings Inc. would be forced to pay holders 90.25 cents on the dollar under initial results of an auction today, setting up the biggest-ever payout in the $55 trillion market.
2008-10-10 08:30:36 -
Asia suddenly feels the pain (International Herald Tribune)
Stock markets plunged from Tokyo to Mumbai. And real estate prices were tumbling from Seoul to New Delhi.
2008-10-10 08:37:25 -
Banks borrow record amount from Fed (Washington Post)
WASHINGTON -- Banks borrowed in record amounts from the Federal Reserve's emergency lending facility over the past week, while investment banks drew loans at a brisk _ though slightly lower _ pace, fresh proof of the credit problems gripping the country.
2008-10-10 08:40:45 -
ANZ cuts fixed home mortgage rates - News.com.au
ANZ Banking Group will drop its fixed interest mortgage rates for new customers from Monday. ``In light of market conditions continuing to ease over the past couple of weeks, ANZ will lower fixed rate mortgages for new customers from Monday, 15 ...
2008-09-10 05:54:00 -
Blow for new mortgage borrowers (BBC News)
The number of mortgage products available to new borrowers hits its lowest figure since the start of the credit crunch.
2008-10-10 06:24:23 -
Dodd rips McCain, Conn Republican chairman fires back (Journal Inquirer)
U.S. Sen. Christopher J. Dodd, who as chairman of the Senate Banking Committee played a key role in the government’s $700 billion bailout for Wall Street, charged Thursday that Republican presidential candidate John McCain did “nothing” to make it happen.
2008-10-10 06:28:19 -
TALK BACK: Sales Tax Credit Is Better Than Bailout, Stimulus (Nasdaq)
A financial advisor in New Jersey responds to the following question we posed on Dow Jones NewsPlus: What should the government do next to help solve the credit crisis? Please share your own views. Email us at TalkBackAmericas@ dowjones.com.
2008-10-10 06:32:33 -
Gov't provides $25B injection to lending industry (CTV Winnipeg)
Finance Minister Jim Flaherty announced Friday the government will buy $25B worth of mortgage debt from banks in a bid to stabilize the lending industry.
2008-10-10 06:38:59 -
Restoring credit markets will take multiple steps, lawmakers say (Arkansas News Bureau)
By Jason Wiest Arkansas News Bureau LITTLE ROCK - Back from Washington, two members of Arkansas' congressional delegation called voting for the financial bailout bill a disgusting but necessary step toward easing the nation's fiscal crisis, with more steps to follow.
2008-10-10 06:40:52 -
What options remain for getting the market restarted? (KATU Portland)
The government still has some unused options - like buying up foreclosed properties and making direct loans to homeowners - that might ease the credit and housing crises and brighten the economic outlook.
2008-10-10 06:42:06 -
Community banks are a better choice (Bluffton Today)
The big three pay below the average on most savings accounts and certificates of deposit. Local banks offer very competitive rates. While those rates are not as high as those offered by the Internet banks, they tend to be higher than the big three. Heck, some even pay interest on checking accounts without aminimum balance.
2008-10-10 06:45:36 -
McCain assaults Obama (Spencer Daily Reporter)
WASHINGTON -- Republican John McCain on Thursday intensified character attacks on Democratic opponent Barack Obama, who is climbing in the polls as voters' preferred candidate to handle a deepening...
2008-10-10 06:52:37 -
Gov't provides $25B injection to lending industry (CTV Toronto)
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2008-10-10 06:53:37 -
US mortgage giants Freddie Mac and Fannie Mae taken into public ... - Guardian Unlimited
The US government today announced the biggest financial bailout in the country's history as it took troubled mortgage giants Freddie Mac and Fannie Mae into temporary public ownership to save them from collapse. The US treasury secretary, Henry ...
2008-09-06 05:59:00