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(Washington Post) - Washington PostThe financial turmoil has pushed the Obama campaign into the lead, and this is mostly justified. Barack Obama is more thoughtful on the economy than his opponent, and his bench of advisers is superior. But there's a troubling side to the Democratic ...
Regulator takes heat over IndyMac Bank failure - Los Angeles TimesWASHINGTON -- As the mortgage crisis deepened in California last year, officials in Washington put the fate of thrifts in the West in the hands of a veteran regulator who had a memorable role in the last major crisis in the savings and loan industry ...
Crisis Strikes 'Real Economy' - Washington PostRobert Bassam, used-car magnate, isn't driving his $415,000 Lamborghini these days, or his Porsche, and he has even warehoused his usual get-around-town car, a BMW 750. Instead, he's puttering along in a four-cylinder Hyundai Accent hatchback. It's ...
Treasury confirms Kashkari to head mortgage rescue plan - MarketwatchWASHINGTON (MarketWatch) -- Treasury Secretary Henry Paulson has tapped a close advisor, Neel Kashkari, to lead the $700 billion mortgage rescue effort. Kashkari is currently assistant secretary for international economics. His new title is interim ...
Bank of America settles suits over bad mortgages - San Francisco GateFacing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes. Charlotte, N.C.-based Bank of America said Monday it ...
Credit markets still tight as stocks plunge - Seattle Post IntelligencerNEW YORK -- The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks ...
Insurance chief says AIG bailout was unavoidable - MSN MoneyCentralWASHINGTON (Reuters) - Washington policy-makers had no choice but to rescue American International Group Inc after a dramatic investor crisis left the giant insurer starved for cash, New York insurance chief Eric Dinallo told lawmakers on Tuesday ...
Congress opens hearings on financial meltdown - Times of IndiaWASHINGTON: The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives as it pleaded for a federal lifeline, lawmakers learned, as Congress began investigating what went so wrong on Wall Street to prompt a $700 ...
U.S. urges unified response as crisis hammers stocks - Reuters UKNEW YORK/WASHINGTON (Reuters) - Governments around the world scrambled for new measures to contain the fast-spreading credit crisis as stock, bond and commodity markets bet on deepening uncertainty and a sharp downturn. U.S. officials called for a ...
Rescuers still fogbound - CNN MoneyNEW YORK (Fortune) -- Regardless of what happens with the mortgage rescue bill now headed for a vote in the Senate, policymakers haven't run out of tools for hacking away at the edges of the credit crisis. Unfortunately, it's far from clear that they ...
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