Mortgage and Financial News From 2008-9-15 Page 01
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Capitalism - it's painful, but it works - Daily Telegraph
After a year of grim financial news, it would be easy to dismiss the collapse of Lehman Brothers as just another bad day at the office. Easy, but wrong. This is a rare defining moment, when regulators call the bluff of those who say that the demise ...
2008-09-15 04:37:00 -
Banking turmoil adds to pressure on Mervyn King to cut interest rates - Daily Telegraph
The Bank of England could be forced to cut interest rates next month to stop the disintegration of the financial sector damaging the fragile wider economy. After the collapse of US investment bank Lehman Brothers, investors are betting on a quarter ...
2008-09-15 04:37:00 -
Response to Continuing Fallout on Wall Street from the Center for ... - MSN MoneyCentral
WASHINGTON , Sept. 15 /PRNewswire-USNewswire/ -- Merrill Lynch and Lehman Brothers are the latest corporate casualties in the financial crisis caused by abusive loans from reckless lenders. Even the former chair of the Mortgage Bankers Association ...
2008-09-15 03:32:00 -
Global credit crisis enters a new dimension - Seattle Post Intelligencer
When the Chancellor of the Exchequer said last month that the United Kingdom faced its worst economic crisis for 60 years, he was widely criticized for being too pessimistic. After the events of the past 36 hours, it could be argued that he was not ...
2008-09-15 04:51:00 -
Lib Dems seeking aid for homeowners - Ananova
Rapid action is needed to protect thousands of families from the threat of repossession, Liberal Democrat treasury spokesman Vince Cable has warned. The party is calling for a new code of practice for mortgage lenders to ensure a property is only ...
2008-09-15 07:36:00 -
Lehman bankruptcy to weigh on Florida - St. Petersburg Times
Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, works her post on the trading floor of the New York Stock Exchange on Monday. Florida owns more half a billion dollars worth of stocks and bonds in Lehman Brothers. TALLAHASSEE — The ...
2008-09-15 07:36:00 -
FAQ: What it means for you - Guardian Unlimited
Very few UK consumers have direct exposure to the US bank, but it did have some mortgage customers in this country. Lehman's UK subsidiaries - Southern Pacific Mortgage Limited and Preferred Mortgages - catered for people with low credit ratings, and ...
2008-09-15 04:08:00 -
Shares slump as global meltdown hits home - News.com.au
Share market follows US down Banks lead the way with Macquarie, Babcock posting large falls Trading : The latest market news and prices THE share market was down around 2.4 per cent at noon today, after US shares went into freefall overnight ...
2008-09-15 09:38:00 -
AIG's Ratings Cut by S&P, Moody's, Threatening Quest for Funds - Bloomberg
Sept. 16 (Bloomberg) -- American International Group Inc.'s credit ratings were downgraded by Standard & Poor's and Moody's Investors Service, threatening efforts to raise emergency funds to keep the company afloat. The ratings reductions occurred ...
2008-09-15 10:06:00 -
What Lehman Brothers, Merrill Lynch woes mean to their clients - New York Daily News
Just a week after the government seizure of mortgage finance giants Fannie Mae and Freddie Mac , the financial system dropped another bomb Monday when 158-year-old investment bank Lehman Brothers undertook the largest bankruptcy filing in history ...
2008-09-15 04:51:00 -
National City well capitalized, CEO says - Pittsburgh Tribune Review
National City Corp. CEO Peter Raskind assured shareholders Monday the regional bank, which is trying to recover from steep losses in the home mortgage market, has sufficient capital and is not likely to take a direct hit from the latest financial ...
2008-09-15 09:16:00 -
CLSA's Wood Sees Another $1 Trillion in Credit Losses (Update1) - Bloomberg
Sept. 16 (Bloomberg) -- Global credit losses will rise by a further $1 trillion as financial turmoil unfolds in the wake of Lehman Brothers Holdings Inc. 's bankruptcy, Christopher Wood , chief equity strategist at CLSA Ltd., said in a note to ...
2008-09-15 09:38:00 -
PRESS DIGEST - Washington Post Business - Sept. 16 - Reuters
WASHINGTON, Sept 16 (Reuters) - The Washington Post included the following items on the front page of its business section on Tuesday. Crude oil prices plunged 5.4 percent, falling below $100 a barrel for first time since Feb. 15 as traders and ...
2008-09-15 09:59:00 -
Mortgage rates fall on Lehman Brothers, Merrill Lynch news - New York Daily News
The latest round of financial shockers didn't just send Wall Street traders scrambling--the problems also have consumers wondering if it's a good time to buy a home or refinance, given the impact on mortgage rates. Here's how experts weigh in on what ...
2008-09-15 04:51:00 -
How to beat the property blues - News.com.au
A $300,000 mortgage will cost you $570,000 in interest over 30 years Look at all your options when it comes to financing a property Caluclator : Compare home loan fees and features "FOR Sale'' signs are going up everywhere, but the fever pitch has ...
2008-09-15 09:52:00