Investor’s Business Daily - Treasury Secretary Henry Paulson made that clear on Monday as he announced government support for so-called “covered bonds.” Read More…
In an interview on CNBC, Former Federal Chairman Alan nGreenspan warned that if the Federal Reserve is given a role to noversee the financial system it could undermine its credibility. nn Greenspan said the US is facing a “once in a century ncrisis.” He warned that the U.S. teeters on the brink of nrecession… nnn Read More […]
Zimbabwe is the latest example of what happens when inflation spirals nout of control to the point of hyperinflation. With the highest rate of ninflation in the world - about 2.2 million per cent - nZimbabwe last week issued a Z$100 billion note, though still not enough nto buy a loaf of bread, which is […]
AFP - Treasury Secretary Henry Paulson said Thursday he expects “moderate” growth in the US economy this year and some stability returning to the housing market in a matter of months. Read More…
Reuters - Freddie Mac , the nsecond-biggest provider of funding for U.S. residential nmortgages, on Thursday said it is boosting incentives to nmortgage servicing companies to help more borrowers renegotiate nloans in an effort to curb rising delinquencies. Read More…
A study by the National Community Reinvestment Coalition released today suggests that blacks and Hispanics are much more likely to have risky and poorly-underwritten loans. But interestingly, the disparity is pretty significant even among more wealthy borrowers.n nDuring 2006, middle- and upper-income (MUI) African-Americans were twice or more as likely to receive high-cost loans as MUI […]
Speaking before the Exchequer Club of Washington, U.S. Treasury nSecretary Henry Paulson said the stimulus package has nsupported the economy in the last year. nn Paulson said market turmoil and energy prices have dragged on the neconomy, while the labor market has softened… nnn Read More Nownn Read More…
André Reiman and Joanna Mellors, American lawyers living in Lausanne, Switzerland, wanted something with a modern touch when they went house-hunting in Provence. n Read More…
AP - A 44-pound cat found lumbering around New Jersey was abandoned by a woman who said her home was foreclosed, an animal shelter official said Thursday. Read More…
Freddie Mac today told mortgage servicers it was ndoubling the amount of money it pays for each workout nthat keeps a delinquent borrower with a Freddie Mac-owned mortgage out of nforeclosure. nn Freddie Mac also announced it will start reimbursing servicers for the ncost of door-to-door outreach programs, give servicers more time to nnegotiate workouts in states […]