Mortgage and Financial News From 2008-3-22 Page 5
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How a Lack of Faith Pounded the Markets (Newsweek)
Once-mighty Bear Stearns has become the latest victim of Wall Street's growing crisis of confidence.
2008-03-22 10:28:13 -
A Rate Cut Is Not a Sure Thing in Japan (NYTimes.com via Yahoo! Finance)
The acting governor of the Bank of Japan warned those expecting a cut in interest rates that he had no preconceptions on where to take monetary policy.
2008-03-22 10:39:03 -
Why We Borrow Until It Hurts (Washington Post)
If the subprime mortgage mess has taught us anything, it is that we are leverage addicts. Nearly all of us are -- from Northern Virginia, where we bought big houses with no money down, to Wall Street, where traders borrowed cash to make bigger bets on the housing market.
2008-03-22 10:47:50 -
West Side women charged with fraud in loan scheme (Modesto Bee)
A Newman loan agent and a friend have been charged with defrauding the friend's 81-year-old mother-in-law out of her home's equity and thousands of dollars in annuities, causing her home to go into foreclosure.
2008-03-22 05:25:20 -
Should You Unlock Capital From Your Home? (The Motley Fool)
Does it make sense to borrow more money against your home?
2008-03-22 07:44:56 -
US stocks up after nail-biting week (The New Zealand Herald)
Stocks in the United States jumped on Friday, capping a tumultuous week on optimism that giving Fannie Mae and Freddie Mac a bigger role in the mortgage market will ease a credit crunch that claimed Bear Stearns as victim after JP Morgan Chase & Co's cut-rate buyout.
2008-03-22 09:17:02 -
My way or no highway (Arkansas News Bureau)
My way or no highway. That's a rough sum-up of the situation Gov. Mike Beebe's leaving for legislators on his severance tax proposal. He gets his preferred option of the increase or he neuters the biggest criticism against him. That's the criticism that he hasn't done enough for roads.
2008-03-22 09:55:27 -
Bank of England Seeks to Ease `Strains' in Markets (Update2) (Bloomberg.com)
March 22 (Bloomberg) -- The Bank of England said it's in discussions with other central banks about how to ``ease the strains'' in financial markets, although it's not considering requiring taxpayers to assume credit risks.
2008-03-22 10:01:59 -
Bank of America May Take $6.5 Billion Loss Provision (Update2) (Bloomberg.com)
March 22 (Bloomberg) -- Bank of America Corp. , the second biggest U.S. bank by assets, may take a record $6.5 billion provision in the first quarter to cover possible future losses in its home equity and mortgage portfolios, Punk Ziegel and Co. analyst Richard Bove wrote.
2008-03-22 10:25:14 -
Have your retirement cake and eat it, too (The Shreveport Times)
America's oldest baby boomers, who are turning 62 this year, face similar trade-offs in deciding whether to claim their Social Security benefits early. A little-known Social Security option, though, gives early retirees a way to have their cake and eat it, too.
2008-03-21 12:13:10 -
Sensex ends week 5% down (The Hindu)
MUMBAI: The stock market benchmark Sensex tumbled to end the week below 15,000-point mark for the first time in more than six months amid indications of high volatility in the coming days.
2008-03-22 01:46:10 -
Five reasons to start worrying (Toronto Star)
"The basis for optimism is sheer terror." – Oscar Wilde
2008-03-22 01:50:46 -
Reuters Business Summary (Reuters via Yahoo! Singapore News)
Goldman, Lehman outlooks cut to "negative" by S&P
2008-03-22 03:48:40 -
Fed's Moves Bring Praise, New Scrutiny (San Francisco Chronicle)
The Federal Reserve has taken its boldest action since the Great Depression, invoking rarely used powers in an effort to contain a panic threatening to undermine the economy. The central bank acted with speed the White House and Congress only could envy.
2008-03-22 07:49:03 -
7 steps to surviving the rough economy (Chicago Sun-Times)
Yes, the Fed saved the system last week (though not the shareholders of Bear Stearns), but the Fed doesn’t have unlimited power to rescue the economy, which is having a massive deflation in asset values.
2008-03-22 02:22:18