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Bernanke says he erred in gauging mortgage fallout - Associated PressWASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market's collapse. "I and others were mistaken ...
Forget the subprime mortgage mess — Collin Peterson in Europe trying ... - DL-OnlineU.S. Rep. Collin Peterson, D-Minn., left for Europe this weekend to discuss ways to regulate little-known and difficult-to-understand “credit default swaps.” “It has to be global,” Peterson said, so he and other House Agriculture Committee ...
(Corrects 30-year mortgage rate in 4th paragraph after BestInfo ... - ReutersWASHINGTON, Nov 25 (Reuters) - The Federal Reserve threw a massive life-line to U.S. consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Squarely targeting slumping ...
UPDATE: Investors Sue Countrywide Over Modification Plans - CNN MoneyNEW YORK -(Dow Jones)- Two investors in mortgage-backed securities sued Bank of America Corp.'s (BAC) Countrywide Financial Corp. on Monday over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys ...
Banks face tougher times as caution grips lending - Gulf NewsDubai: Though the apparent lack of funding is hitting the banking sector, the indirect impact related to the downturn in the property market is a greater issue, a report released by EFG-Hermes said. The property market is expected to face even ...
Fed Prepared to Lower Interest Rates, Bernanke Says - Washington PostThe Federal Reserve stands ready to cut interest rates further and to expand its novel efforts to inject cash into various corners of the financial markets, Chairman Ben S. Bernanke said today as he laid out various steps the central bank could take ...
Bernanke says Fed still has arrows in quiver - MarketwatchWASHINGTON (MarketWatch) - The Federal Reserve has lowered interest rates just about as far as they can go, but the U.S. central bank still has plenty of available firepower it could deploy to restore financial markets to normal, Fed Chairman Ben ...
Treasury Yields Drop to Record Lows as Bernanke Cites Buybacks - BloombergDec. 1 (Bloomberg) -- Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. Bonds rallied for a ...
Freddie Mac plunges into mortgage-backed securities market - Los Angeles TimesFreddie Mac increased its support for the nation's ailing home loan market in October, in part playing the role the government had in mind when it seized the mortgage loan giant. The company and its bigger sibling, Fannie Mae, are vital cogs in the ...
Print Money and Cut the Payroll Tax - American Enterprise InstitutePresident-elect Barack Obama faces the most difficult economic challenge confronting an incoming American president since the election of Franklin Delano Roosevelt seventy-six years ago in 1932. When he assumes office on January 20, Obama will need ...
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