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US mortgage implosion set to blow Darling's Budget to pieces
Not since Labour's Philip Snowden delivered the Budget in 1930 has any Chancellor offered an accounting more certain to be swept away by hurricane forces of global finance. says Ambrose Evans Pritchard.
Bear Stearns report causes credit market panic
Panic swept the credit markets on reports of an insolvency crunch at both the US investment bank Bear Stearns and the mortgage giant Fannie Mae, triggering a dramatic surge in default insurance and rumours of yet another emergency rate cut by the US Federal Reserve. Don’t Bank on a Countrywide Purchase (CFC, BAC)
"Don’t Bank on a Countrywide Purchase (CFC, BAC)"Jingle mail, Jingle mail Sc#*w the bank all the way
" Mortgage foreclosures hit an all-time high in the fourth quarter of last year while homeowners' equity, or the value of a home less the outstanding mortgage, sank to an all-time low of 47.9 percent. As prices drop, more home owners who bought at the top of the market...Countrywide reportedly under FBI investigation
Put this in your "no real surprise to anyone who pays attention" folder - "NEW YORK (CNNMoney.com) -- The FBI has launched an investigation into the lending practices of battered home lender Countrywide Financial Corp. according to a U.S. government official, CNN has... Banks face "systemic margin call," $325 billion hit: JPM
It is shocking that more people aren't cognizant of this impending crisis."
NEW YORK (Reuters) -
Wall Street banks are facing a
"systemic margin call" that may deplete banks of $325... House Panel Questions High Pay for CEOs
Like the oil company profits last year, it's another situation of individuals making a lot of money in sectors experiencing trouble."The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions...
created by Dave Keating | 5 years ago | updated 5 years ago
397 views | 0 recommendations | 0 comments
397 views | 0 recommendations | 0 comments
UK Interest rates held at 5.25pc on inflation fears
The decision, which follows a quarter percentage point cut by the Monetary Policy Committee last month, will come as a blow to homeowners struggling with higher mortgage payments and businesses dependent on consumer spending. Foreclosure Plans Benefit Banks, But Do Little for Homeowners
Note the key statement here, "Taxpayers foot the bill to finance bailout plans." –"Taxpayers foot the bill to finance bailout plans–For Immediate Release: March 4, 2008Contact: Alan Barber (202) 293- 5380 x115Washington, DC—Many of the recent proposals to help...
created by Maireid Sullivan | 5 years ago | updated 5 years ago
284 views | 2 recommendations | 1 comment
284 views | 2 recommendations | 1 comment
Fed chief suggests writing-down principal instead of taking a loss
Today the Fed Chairman offered a novel approach to resolving the credit crisis in the mortgage sector: "Federal Reserve Chairman Ben Bernanke called Tuesday for additional action to prevent more distressed...Mill worker wins $1m hockey prize
"A Canadian sawmill worker has won $1m (€670,000) by scoring 15 goals within 24 seconds in an ice hockey half-time challenge. 35-year-old Darwin Head from Saskatchewan in western Canada fired 15 out of 20...
created by infomatique | 5 years ago | updated 5 years ago
609 views | 0 recommendations | 2 comments
609 views | 0 recommendations | 2 comments
Michael Jackson's bad...at paying mortgages
Michael Jackson's been in the news twice this week for money woes. First it was the March 19 auction date set for his Neverland ranch, and now he stands to lose a Los Angeles home used by his family.Maybe...Congress Decides On Deliberating Foreclosure Act
Congress’ attention turned to foreclosures on Tuesday, when the Senate decides whether to end debate on a bill aimed at helping homeowners avoid losing their homes.Michael Jackson's ranch set for auction
There's been rumblings about this for a while, but now it looks like there's a date set in March.Anyone in the market for a really weird ranch?" LOS ANGELES - Michael Jackson's Neverland...Foreclosures - latest initiative
" According to the The Associated Press (02/12/08) The National Association of Home Builders announced Tuesday that its political action committee has decided to stop making contributions to candidates for Congress “until further notice.” The association said...Top Members Today
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