Mortgage and Financial News From 2008-10-5 Page 5
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German gov't, banks reach bailout deal for Hypo (Indianapolis Business Journal)
The German Finance Ministry says government officials and private banks have agreed to a new 50 billion euro ($69 billion) deal to bail out Hypo Real Estate AG.
2008-10-05 03:33:26 -
Hazardous to handle - Chicago Tribune
Wall Street's financial maelstrom is threatening some of Chicago's largest companies. They are holding billions of dollars in exotic investments at the heart of the nation's financial crisis—debt tied to housing, student, auto and credit card loans ...
2008-10-05 02:11:00 -
SEC's role in Wall Street - Santa Rosa Press Democrat
"We have a good deal of comfort about the capital cushions at these firms at the moment." RICK McKAY / Cox News Service Christopher Cox of the Securities and Exchange Commission listens to Treasury Secretary Henry Paulson in July during testimony on ...
2008-10-05 01:14:00 -
Fuld May Blame Confidence Crisis for Lehman's Fall at Hearing - Bloomberg
Oct. 5 (Bloomberg) -- Richard Fuld , the chief executive officer of Lehman Brothers Holdings Inc., may tell legislators angry about Wall Street's excesses that eroding confidence in the financial system led to the demise of his firm. Fuld's testimony ...
2008-10-05 08:14:00 -
Simple money moves can help family with special needs - Seattle Times
When thinking about their futures, Amy and Chad Patterson need to consider long-term assistance for their developmentally disabled daughter, Emma. The Pattersons have turned their front yard in Lake Stevens into a vegetable patch full of tomatoes and ...
2008-10-05 02:19:00 -
Wachovia says it will press ahead with Wells deal (WMCTV Memphis)
Wachovia responded Sunday to a New York judge's order temporarily blocking the sale of the bank to Wells Fargo with a lawsuit of its own, asking a federal judge in Manhattan to allow the deal to go through. A hearing on Wachovia's request was being held Sunday afternoon.
2008-10-05 02:23:27 -
Why India is largely insulated from global financial turmoil (Gulf Times)
By Sushma Ramachandran The collapse of the mighty global financial system has triggered a series of chain reactions in India, but the impact is not going to be as widespread as earlier imagined. The reasons are numerous.
2008-10-05 02:27:19 -
Germany pledges $700bn to protect bank deposits (Gulf Times)
BERLIN/LONDON: Germany yesterday said it would guarantee more than 500bn euros ($693bn) in private deposit accounts to protect savers from the worst global financial crisis since the 1930s.
2008-10-05 02:28:04 -
Wachovia to move forward with Wells deal (WABC-TV New York)
Wachovia is moving ahead with its deal to sell itself to Wells Fargo.
2008-10-05 02:29:37 -
Americans Eye Bailout But Still Keep Cutting Back (FOX 29 Lake Charles)
Relief on Wall Street over the hard-won passage of a $700 billion bailout package for the financial system apparently hasn't yet trickled down to the pubs, storefronts, car lots and malls of Main Street.
2008-10-05 02:31:24 -
Weller votes ‘yes' on bailout bill (Morris Daily Herald)
WASHINGTON, D.C. - U.S. Rep. Jerry Weller (R-Morris) voted in favor of the so-called $700 billion bailout, which passed the U.S. House about 12:30 p.m. Friday.
2008-10-05 02:33:10 -
Britain's treasury chief promises more government help for banks - Edmonton Sun
LONDON - Britain's treasury chief says he is ready to step in to save any more banks that get into trouble. Alistair Darling said the government was willing to take "pretty big steps that we wouldn't take in ordinary times" to help Britain weather ...
2008-10-05 08:49:00 -
Track mortgages in neighborhood - Baltimore Sun
F oreclosure can affect you and your neighborhood, never mind if you personally have never been late paying your mortgage. When lenders repossess homes, economists say, values go down nearby. The good news is that the riskiest mortgages - subprime ...
2008-10-05 07:38:00 -
Europe struggles with widening financial mess - MSNBC
STOCKHOLM, Sweden - Germany became the newest European country to allay fears about the financial meltdown, guaranteeing private bank accounts as governments scrambled on their own to save failing banks. Chancellor Angela Merkel said that no citizen ...
2008-10-05 12:10:00 -
Credit derivatives market faces $500bn mortgage settling test - Financial Times
The credit derivatives markets will today set the price tag for settling up to $500bn of contracts related to Fannie Mae and Freddie Mac, the US mortgage lenders whose seizure by the US government had the unexpected knock-on effect of triggering ...
2008-10-05 11:48:00