Mortgage and Financial News From 2008-9-22 Page 6
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Ignorance at center of turmoil - Martinsville Reporter-Times
What we don’t know does hurt us. Many builders constructed houses assuming there was a continuing strong market of qualified home buyers. Some mortgage brokers and some bankers gleefully ignored or misrepresented the abilities of home buyers to ...
2008-09-22 08:50:00 -
Leading Consumer, Labor and Civil Rights Groups: Bailout Must Include ... - Forbes
WASHINGTON, Sept. 22 /PRNewswire-USNewswire/ -- The following letter was sent today by 35 major U.S. consumer, labor, civil rights groups: "Dear Member of Congress: The undersigned organizations strongly urge you to include court-supervised mortgage ...
2008-09-22 11:49:00 -
Private Mortgages Post Positive Second Quarter - Earthtimes
MILWAUKEE , Sept. 22 -- Private commercial mortgages held by life insurance companies posted a 0.26 percent total return for second quarter 2008, according to the LifeComps Commercial Mortgage Index. The positive return followed a 0.82 percent gain ...
2008-09-22 09:48:00 -
Bush urges quick action on $700-B bailout (Philippine Daily Inquirer)
WASHINGTON — The Bush administration insisted on Sunday that Congress must move quickly to approve” a $700-billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze US credit markets.
2008-09-22 01:01:53 -
Beijing’s burden: a slowing China bodes ill for the world economy (Financial Times)
As the credit crisis unfolded over the past year, one of the few certainties in the global economy seemed to be China’s ability to plough on regardless at double-digit growth rates.
2008-09-22 01:12:45 -
Are The ’80s The Answer? (Newsweek)
Would reviving the RTC stop Wall Street's bleeding?
2008-09-22 01:12:58 -
HL:Business staffing plans for Monday, Sept. 22, 2008@ (INO News)
BUSINESS EDITORS:@ Here are Canadian Press Business staffing plans as of 4:30 p.m. ET. Plans may change as circumstances warrant. Queries should be addressed to business editor John Valorzi at 416-507-2146 or to Dave Paddon on the business desk at 416-507-2138 or Craig Wong at 613-231-8631.
2008-09-22 01:31:37 -
Is America becoming socialist? 21 Sep 2008, 0326 hrs IST, Swaminathan S Anklesaria Aiyar (The Times of India)
Socialists, like Hugo Chavez in Venezuela or Indira Gandhi in India, are famous for nationalising the biggest corporations. But the US government has taken over three of its biggest corporations within two weeks. Has the US turned socialist?
2008-09-22 01:43:48 -
U.S. Stocks Tumble on Concern Bailout Won't Stop Recession (Bloomberg.com)
Sept. 22 (Bloomberg) -- U.S. stocks tumbled, led by banks, retailers and technology companies, as oil jumped 16 percent and investors speculated the Treasury's plan to buy toxic mortgage assets will fail to prevent a recession.
2008-09-22 01:57:25 -
Reid says "no blank check" for Wall Street bailout (Las Vegas Review-Journal)
WASHINGTON -- Senate Majority Leader Harry Reid said today that Democrats in Congress will not grant President Bush "a blank check" $700 billion financial bailout bill without debate over amendments to "protect taxpayers."
2008-09-22 01:59:38 -
Site Presented By - Salon
The early reviews of the Paulson plan to spend up to $700 billion buying mortgage-related assets from ailing financial institutions have not been kind. Over the weekend, DailyKos diarist "New Deal democrat" published a nice roundup , complete with ...
2008-09-22 07:53:00 -
Op-Ed: Black Swan Nation, Part 2 - MSN MoneyCentral
Citigroup Inc ( C ) Stock Quote , Chart , News , Add to Watchlist Between 1998 and 2006, home values virtually doubled. There's no logical explanation for this occurrence. Previous peaks were 60% lower than the one reached in 2006. Any reasonable ...
2008-09-22 11:28:00 -
A Sense of Resentment Amid the 'For Sale' Signs - Washington Post
The bailout doesn't smell right to the people of Manassas Park, where the foreclosure signs are as common as azaleas. They know all about bad debt here. This is a terrain of oversize dreams, misjudgment, financial calamity -- and empty houses ...
2008-09-22 10:52:00 -
Quick action urged on bailout - Detroit News
WASHINGTON -- With financial markets on a stomach-churning roller coaster ride, Treasury Secretary Henry Paulson says time is of the essence for Congress to pass a $700 billion rescue for financial firms drowning in a sea of bad mortgage debt ...
2008-09-22 10:45:00 -
We teach teens trigonometry, why not Money 101? (The Christian Science Monitor)
Today's financial crisis is a prime example of why the next generation needs financial literacy.
2008-09-22 11:19:58