Mortgage and Financial News From 2008-10-4 Page 3

Previous Day: 2008-10-03

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• America's Credit Catastrophe (US News & World Report)

  The financial freeze starts to envelop Main Street. Thanks, Wall Street.
  2008-10-04 04:25:42

• Where Wall Street learned the high art of deception (Austin American-Statesman)

  Here's your quiz question for the day: Who is the biggest liar of them all?
  2008-10-04 04:51:06

• Credit crunch: A sickness in the heart of Britain (Guardian Unlimited)

  The financial turmoil that has raced around the world threatens to inflict a deep recession on Britain
  2008-10-04 05:18:25

• Stories from the crunch frontline (Guardian Unlimited)

  In shops, homes and workplaces across Britain, the credit crunch is beginning to change the way we behave - and to cause real hardship. Here we listen to the voices of people facing the reality of the crisis
  2008-10-04 06:04:25

• How’s it effect me?: n Local business leaders discuss what financial crisis means for Tri-Cities. (Johnson City Press)

  What will happen to my retirement investments? Can I get a car or home loan? Are small businesses going to stop growing and start closing? How in the world is the “bailout” supposed to work?
  2008-10-04 07:02:07

• Area business leaders agree that aid package not ideal but needed (The Reidsville Review)

  Local businessmen agree the federal government is right to institute some form of financial aid package to reignite the stalled economy. But those businessmen who shared their opinions the same day Congress and the president approved a $700 billion bailout weren’t willing to give leaders everything they were asking for to pass the deal.
  2008-10-04 07:54:57

• Understanding the mortgage market (Wiscasset Newspaper)

  Many of us are bewildered by what is happening to our economy. This article hopes to bring some clarity to what most of us see as the blurry world of mortgages.
  2008-10-04 07:55:55

• Why This 'Credit Crisis' Hits Everyone (WallStreet Journal via Yahoo! Finance)

  Understanding the problems in the credit markets can help you get a better handle on what is driving the current financial crisis.
  2008-10-04 08:00:56

• The Wall Street Whirlwind - Washington Post

  Boy, that felt bad. Few investors can remember a more tortuous quarter than the one that just passed. The financial system creaked and rocked and nearly collapsed. The names are notched in our nightmares: Fannie Mae , Freddie Mac , Lehman Brothers ...
  2008-10-04 06:02:00

• It missed the party ... but bought the guests instead: The rise and ... - The Independent

  After giving a wide berth to derivatives and growth for growth's sake, Emilio Botin's Santander is striding through the banking wreckage with three British institutions under its wing. Simon Evans reports One year ago the champagne corks were popping ...
  2008-10-04 03:53:00

• LEHMAN STAFF GETS THE SHAFT IN SEVERANCE - New York Post

  While fat cats at the bankrupted Lehman Brothers made multimillion-dollar salaries driving the company into the ground, lower-level employees have been told their severance packages have just been yanked. Ann Harvey, 45, of Staten Island, said she ...
  2008-10-04 03:17:00

• The gloom spreads north - Globe and Mail

  R L from Canada writes: But, but, but.... Jim Flaherty & Steve Harper say the gloom will NOT spread north... if they say so, it must be true? Bush & Harper both said the 'fundamentals are strong'. Flaherty/Harper's plan is the 'do nothing', laissez ...
  2008-10-04 05:47:00

• TIMELINE: 2008, a year of global financial turbulence - Reuters

  (Reuters) - The biggest financial crisis since the Great Depression nearly 80 years ago has hit the world this year. Here are some key dates: January 11 - Bank of America pays $4 billion for Countrywide Financial after the mortgage lender goes bust ...
  2008-10-04 03:39:00

• Feeling Wall Street's pain, from Manila to Paris (San Diego Union-Tribune)

  Nearly 5,000 miles from Wall Street, Dmitry Zhiltsov's recruiting agency is bleeding clients, as investment banks that once hunted Russia's financial wizards succumb to the U.S. meltdown. Flipping on the morning news, he wonders: Who will fall today?
  2008-10-04 06:07:53

• For US bailout to work, housing market needs to mend (GMA News)

  NEW YORK - Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right?
  2008-10-04 06:16:44

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