Mortgage and Financial News From 2008-10-10 Page 8
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Taking stock (BBC News)
What does the financial turmoil mean for you?
2008-10-10 02:48:20 -
Mark Weisbrot: Wall Street Bailout Won't Do Much to Help Ailing Economy (HuffingtonPost)
It is now clear the approval by Congress of President Bush's $700 bailout package on Friday October 3rd has done nothing to ease the current...
2008-10-10 02:52:53 -
Global financial crisis - Politics of the bail out - Financial Times
As the gavel dropped and the US House of Representatives passed a $700bn bail-out, attention immediately turned to how Hank Paulson, US Treasury secretary, would ùse his new power and what impact intervention of such a scale would have on a new ...
2008-10-03 03:47:00 -
Lawmakers reverse bailout votes - The Washington Times
That helped sway those such as Rep. Donna F. Edwards, Maryland Democrat, who wanted to make sure the bill's authors told the Treasury secretary to use some money to prevent foreclosures. She and other members of the Congressional Black Caucus, many ...
2008-10-04 03:00:00 -
Bailout is confidence builder, tax overhaul - New Mexico Business Weekly
We’re used to the good news by now: New Mexico’s local and regional banks and credit unions mostly shunned subprime lending, mortgage defaults are relatively low and home prices haven’t declined much. But there’s another side to the coin of ...
2008-10-10 08:29:00 -
Oil plunges to 13-month low on global slowdown - International Herald Tribune
NEW YORK : Oil prices plunged in another violent sell-off Friday, briefly tumbling below $78 a barrel as investors grow more pessimistic about the prospects for resolving a mushrooming global economic crisis. A barrel of oil hasn't been this cheap in ...
2008-10-10 11:50:00 -
AIG draws down $70 bln of government loan, shares fall - Reuters
NEW YORK (Reuters) - American International Group Inc's (AIG.N: Quote , Profile , Research , Stock Buzz ) shares fell 15 percent on Friday amid mounting liquidity concerns after the insurer drew on $9 billion from a government loan in the last week ...
2008-10-10 12:18:00 -
AIG borrows $70.3 bln of government loan: Fed - Forbes
NEW YORK (Reuters) - American International Group Inc (nyse: AIG - news - people ) , the insurer crippled by losses on bad mortgage bets, has so far borrowed $70.3 billion under a U.S. government bailout loan, according to the Federal Reserve's ...
2008-10-10 08:36:00 -
Obama, Acorn & Their Starring Role in the Mortgage Crisis - MichNews.com
Barack Obama, congressional Democrats and Progressive-Left operatives – with the help of the mainstream media – have done a great job of spinning culpability for the mortgage crisis onto the Bush Administration, congressional Republicans and, in ...
2008-10-10 11:50:00 -
McCain, Obama stoke battle over mortgage crisis, economy - Atlanta Journal Constitution
John McCain says his mortgage plan will help overburdened homeowners keep their houses and boost an economic recovery. Barack Obama says it will hurt taxpayers and reward reckless financial institutions that helped cause the crisis. The two ...
2008-10-10 07:39:00 -
Bush appeals for confidence - CNN Money
NEW YORK (CNNMoney.com) -- President Bush on Friday encouraged the American people to have confidence in the economy during a "deeply unsettling period." "We can solve this crisis - and we will," said Bush, in a speech at the White House. Bush ...
2008-10-10 11:57:00 -
Financial Alchemy Conjured Credit Crunch - MSN MoneyCentral
Barclays ADR ( BCS ) Stock Quote , Chart , News , Add to Watchlist Editor's Note: This article is a collaboration between Bennet Sedacca and Professor Rob Roy. It first appeared on Minyanville on February 8, 2008, and, in light of recent events, has ...
2008-10-10 11:14:00 -
Canada reacts to credit crisis by buying mortgages - San Diego Union-Tribune
TORONTO – Canada is buying up to $25 billion Canadian ($21 billion) in mortgage backed securities from the country's banks in an effort to maintain the availability of credit, the country's finance minister said Friday. Finance Minister Jim ...
2008-10-10 07:18:00 -
CCCS of Greater Atlanta Expanding to Aid Struggling Homeowners (PR Newswire via Yahoo! Finance)
Consumer Credit Counseling Service of Greater Atlanta today announced it is now hiring housing counselors and customer service representatives for a new counseling office in the Cumberland/Galleria area in suburban Atlanta.
2008-10-10 05:00:00 -
Spain EU50 Billion Fund to Buy Bank Assets This Year (Update1) (Bloomberg)
Oct. 10 (Bloomberg) -- Spain will start buying loan- and mortgage-backed bonds from banks before the end of the year, as part of a 50 billion-euro ($68 billion) program to help banks hit by the seizure in financial markets.
2008-10-10 09:15:48