Mortgage and Financial News From 2008-10-4 Page 01
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The dangers of leverage - International Herald Tribune
Asset bubbles like the one that caused the current economic crisis have long plagued financial markets. But like hurricanes in the Gulf of Mexico, these disasters have been occurring with increasing frequency. If we want to prevent them, we must ...
2008-10-04 10:34:00 -
It's not just the banks: Britain itself is looking sub-prime - Guardian Unlimited
'The situation we are facing is as serious as a war in economic terms.' That is what economist Stephen Lewis of Monument Securities told me on Friday, and I think he is right. The credit crunch is menacing not only banks, but the solvency of ...
2008-10-04 09:44:00 -
A house of cards starts to fall - Guardian Unlimited
It is the ultimate entrepreneurs' face-off: The Apprentice versus Dragons' Den. At Cavendish Square in the heart of London's West End, the sale of a £5.5m building owned by the hard-pressed Royal Bank of Scotland attracted 100 viewings, including ...
2008-10-04 10:05:00 -
These loan practices would have flunked Banking 101 - Biloxi Sun Herald
A bout a year ago I overheard my mom - a mortgage banker - talking about some sort of mortgage I had never heard of. I asked her about it. I don't remember the term she used, but it was essentially a special mortgage for someone who has no income or ...
2008-10-04 10:12:00 -
Deliberation helps address bailout bill - Detroit News
We all owe a debt of thanks to the wingnuts and the populists, the soldiers of the far left and (gulp) the far right, the know-nothings and the know-it-alls, the income redistributionists and the free-market fundamentalists -- all the skeptics who ...
2008-10-04 09:51:00 -
Lending law didn’t cause financial meltdown (Centre Daily Times)
Accomplished Googlers can probably find the original talking points off which dozens of conservatives made essentially the same case: The Community Reinvestment Act of 1977 caused the financial crisis. For example, a Wall Street Journal editorial lumped CRA together with far more plausible causes of the meltdown. This liberal-inspired law, it complained, “compels banks to make loans to poor ...
2008-10-04 10:01:45 -
Bank accounts insured — but know the rules (Pioneer Press)
Financial adviser Lynn Daly of Roseville is struggling to get some of her oldest clients to trust anything now that today's news is conjuring up memories of the Great Depression.
2008-10-04 10:04:41 -
Lee County bankers try to mollify area customers (The News-Press)
Bank customers, rattled by government intervention and high-profile failures, are questioning their own bank's financial health.
2008-10-04 10:20:05 -
Robert Peston (BBC News)
Why the markets are calling time on Iceland
2008-10-04 10:26:01 -
Legislators may be asked to address Texas pension-fund losses (Fort Worth Star-Telegram)
Some government investment funds kept buying toxic stocks, even as they plunged in value.
2008-10-04 10:32:30 -
Legislators may be asked to address Texas pension-fund losses (Fort Worth Star-Telegram)
By YAMIL BERARD The stock portfolios of some of the state’s largest investments funds — supporting government employees’ retirements and public education — have taken quite a beating this year. By summer, the value of some of the funds had dropped by billions of dollars. Inflicting damage was the ruthless bear market that smacked hardest U.S. and international financial-sector stocks. That’s ...
2008-10-04 10:36:05 -
Three-year hunt was worthwhile (The Record)
Two decisions — turning down a tempting mortgage offer, and looking into a federal aid program — were key in Joanna and Emmanuel Cabrera's move from a rental in Oradell to their first house in Midland Park.
2008-10-04 10:42:31 -
The dangers of leverage (International Herald Tribune)
To prevent asset bubbles, like the one that caused the current economic crisis, we must limit the amounts people can invest with borrowed money.
2008-10-04 10:51:39 -
Retail chief is going through the roof - Independent
IBEC director and head of Retail Ireland Torlach Denihan has won permission to hugely increase the size of his house in Blackrock. Denihan plans to take off the old roof and put on an extra storey with four new bedrooms and two bathrooms as well as ...
2008-10-04 08:18:00 -
Can you still get a mortgage? - BBC News
Last week, when I was nipping to some meeting or other in a black cab and the driver asked me what I did for a living, I told him that I was a mortgage broker. "Mortgages, eh? It's impossible to get one nowadays, isn't it?" he said. Fortunately he ...
2008-09-29 05:53:00