August 31, 2011
The American International Group (AIG) building is seen in New York's financial district March 16, 2009. Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with [...]
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September 24, 2009
The U.S. Federal Reserved on Wednesday decided to leave a key interest rate at a record low in an obvious effort to foster a nascent economy recovery. Wrapping a two-day meeting, the Federal Open Market Committee (FOMC) said in a statement that it will maintain the target range for the federal funds rate at 0 [...]
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July 1, 2009
A woman looks at a pair of sunglasses in a mirror while shopping for second-hand goods at a Housing Works store in New York June 26, 2009. When Jeff Yeager’s book “The Ultimate Cheapskate” came out 18 months ago, he felt like a voice crying in the wilderness telling people to ditch their cell phones, [...]
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June 9, 2009
John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didnât listen. Even so, he is being called a hero.Warnings from McMurray are cited often in a lawsuit filed by the US Securities and Exchange Commission against Countrywideâs co-founder Angelo Mozilo and [...]
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May 12, 2009
Customers ask about mortgage procedures at an An Binh Bank branch in Ho Chi Minh City. With the central bank easing restrictions on consumer lending since February, the number of mortgages are increasing, as genuine buyers take advantage of the continuing slump in property prices. Bui Tan Tai, deputy general director of Asia Commercial Bank [...]
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April 23, 2009
A senior official of the U.S. mortgage giant company was found dead as a result of an apparent suicide incident, said police on Wednesday. Fairfax County Police control access to the home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in Vienna, Virginia, April 22, 2009. Kellermann, acting chief financial officer [...]
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April 12, 2009
Policies aimed at easing home-loan terms for troubled borrowers may not be as effective in preventing foreclosures as more-direct aid to homeowners, Federal Reserve economists found. Job losses and falling home prices have a bigger impact on delinquencies than mortgage terms, and modifications arenât necessarily a better deal for investors than foreclosures, according to a [...]
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March 16, 2009
VietNamNet Bridge – As banks’ capital become more profuse, they have been trying to push up consumer credit. Some bankers said that they have pushed up the loaning to fund car purchases since the beginning of 2009, while others said they have been maintaining the loaning since 2008. Lien Viet Bank is providing loans for up [...]
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March 5, 2009
The U.S. government on Wednesday launched a housing plan designed to help prevent borrowers from losing their homes through refinanced mortgages or loans that are modified to lower monthly payments. U.S. Treasury Secretary Timothy Geithner gestures as he testifies before the Senate Finance Committee on Capitol Hill in Washington, March 4, 2009.(Xinhua/Reuters Photo)The plan was [...]
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February 19, 2009
President Barack Obama speaks about relief for Americans facing home foreclosure at Dobson High School in Mesa, Arizona February 18, 2009.U.S. President Barack Obama on Wednesday revealed a mortgage relief plan in an effort to prevent more Americans from losing their homes.(Xinhua/Reuters Photo)The plan is expected to help between 7 million and 9 million American [...]
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