Mortgage and Financial News From 2008-10-10 Page 13
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FBI investigating companies at heart of meltdown - FOX News
WASHINGTON — The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned. Two law enforcement officials said Tuesday the FBI ...
2008-09-22 05:54:00 -
Mortgage companies paid McCain aide as advocate - International Herald Tribune
Senator John McCain's campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former ...
2008-09-21 05:56:00 -
Brunswick to cut 1,400 jobs, shut 4 more plants - San Francisco Gate
Thursday's announcement comes four months after the suburban Chicago company said it would cut 1,000 jobs and cautioned it could slash another up to 1,700 more. Brunswick says the latest round of cuts will save $300 million by the end of 2009 and are ...
2008-10-09 12:05:00 -
Europe's death by guarantee (Asia Times)
Through the latest financial crisis, I warned readers that the costs of banking bailouts in Europe would far outstrip those of the United States. Following from my "quick and dirty" summary at the bottom of last week's article (see Dismal math , Asia Times Online, October 4, 2008), this article expands on the subject at some length.
2008-10-10 04:26:41 -
Brunswick moves up plant closings (Fond du Lac Reporter)
Brunswick Corporation, the parent company of Mercury Marine, announced Thursday that it will accelerate its plans to shut down four plants across the country.
2008-10-10 04:34:31 -
Comments on this story are moderated (Toronto Star)
MOSCOW–Russia's Rosevrobank, a mid-sized lender, has asked clients to pay back their mortgages right away rather than risk the prospect of real estate prices falling 30 per cent, the bank said on Friday.
2008-10-10 04:37:24 -
Metro Brokers(SM) Purchases Realty Connections (PR Newswire via Yahoo! Finance)
Metro Brokers/GMAC Real Estate recently acquired Realty Connections, an established real estate firm in Jasper. Founded in 2001, the company has held the number one spot for market share in Pickens County for many years.
2008-10-10 04:45:00 -
Nigeria: Global Financial Crisis - We've Not Appointed Bailout Banks - NSE (AllAfrica.com)
Nigerian Stock Exchange (NSE) said on Thursday it was collaborating with banks to restore investors' confidence in the market, which for sometime now has continued to wane.
2008-10-10 04:48:22 -
Moment of Reckoning for Leading Asset Management Firm (WNYC New York Public Radio)
The Treasury Department is working quickly to hire companies to help manage the toxic assets crippling the U.S. financial system. Only a handful are capable of taking on such an enormous task. One of....
2008-10-10 04:56:10 -
HBOS, RBS, European Banks Slide on Lehman Concern (Update3) (Bloomberg)
Oct. 10 (Bloomberg) -- HBOS Plc and Royal Bank of Scotland Group Plc were among the biggest decliners in European trading as investors anticipated losses linked to Lehman Brothers Holdings Inc. and a worldwide recession.
2008-10-10 04:57:09 -
On the Money Dictionary: Monday, Sept. 8 - CNBC
Three C's: Credit, Capacity, Collateral – The three main things lenders are looking for. Good mortgages require good credit (a score of 760 or higher will get you the best interest rate). You also need capacity, meaning proof that you can pay back ...
2008-10-03 12:16:00 -
Official interest rates down 1 per cent - News.com.au
THE Reserve Bank cut official interest rates a full 1 per cent, its biggest reduction in 16 years, prompting lenders to pass on as much as 0.8 per cent. Westpac said this afternoon it would cut its standard variable rate by 0.8 per cent, confounding ...
2008-10-07 07:00:00 -
Open sourcing code may improve transparency on Wall Street - Computerworld Australia
Read up on the latest ideas and technologies from companies that sell hardware, software and services. The full depth of IT's involvement in Wall Street's meltdown is unknown, but one plan to stop it from happening again calls upon a growing IT trend ...
2008-10-10 12:37:00 -
Q&A: How the Fed interest-rate cut may affect you - Baltimore Sun
If you have money in interest-earning bank accounts or certificates of deposit, you can expect to be "as disappointed as Cubs fans," said Greg McBride of Bankrate.com in North Palm Beach, Fla. "They're continuing to take it on the chin every time the ...
2008-10-09 06:57:00 -
Will the Fed cut help consumers? Maybe - Newsday
The Federal Reserve 's cut in its benchmark interest rate could put more money in your pocket - or take some out. Or both. Figuring out how you're affected may be more complicated than usual. Will I earn less on my bank savings? If you have money in ...
2008-10-10 03:00:00