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UK banks in government funding talks as crisis grips - ReutersLONDON (Reuters) - Britain will hold more talks with banks this week over a possible multi-billion pound injection of public funds, an industry source said as the credit crisis tightened its grip on Europe's main financial center. News that the talks ...
TIMELINE: Financial mayhem strikes global markets - Reuters(Reuters) - Here is a timeline of a month of global market turmoil which has claimed some of the world's best known financial institutions as victims. September 14/15 - Investment bank Lehman Brothers Holdings Inc files for bankruptcy protection ...
Financiers, firms put $64.2 million into politics - Detroit Free PressWASHINGTON -- The Wall Street financiers and firms whose problems have prompted a $700-billion federal bailout are no strangers to Capitol Hill or to politics. Since 2001, eight of the most troubled firms have donated $64.2 million to congressional ...
Business big shot: Neel Kashkari - Times OnlineA space technology whizz who works in the US Treasury is expected to be appointed to run one of the world's largest investment funds. Neel Kashkari, 35, who developed technology for Nasa missions in his first career, is thought to have been chosen to ...
3 banks agree to Wachovia standstill - Miami HeraldWachovia, Citigroup and Wells Fargo agreed to a standstill of all formal litigation activity -- a sign that the banks and the Federal Reserve are working feverishly to reach an agreement over the fate of Wachovia. In other banking news, Bank of ...
S&P 500's Decline Makes Decade Worst Ever, Granville Sees Crash - BloombergOct. 7 (Bloomberg) -- Even the 1930s are looking better for U.S. stock investors after the credit crisis wiped out more than $6 trillion from equities in the past year. The Standard & Poor's 500 Index lost 17 percent since the start of 2000 after ...
The auditors have failed - Guardian UnlimitedThe deepening financial crisis brings daily news of corporate collapses and bailouts that plunder the taxpayers' pockets at an unprecedented scale. Innocent people are losing jobs, homes, pensions and investments. Each collapse shows that highly paid ...
Bernanke, Paulson, Trichet May Act to Unblock Lending (Update1) - BloombergOct. 7 (Bloomberg) -- Ben S. Bernanke and his fellow global policy makers may move to unblock markets for loans between banks and commercial paper as their next steps to combat the 14- month credit crisis. In the U.S., Federal Reserve chief Bernanke ...
Lehman Managers Portrayed as Irresponsible - The LedgerWASHINGTON — Richard S. Fuld Jr. blamed the news media. He blamed the short-sellers. He blamed the government, as well as what he characterized as an “extraordinary run on the bank.” Doug Mills/The New York Times The chief of the now-bankrupt ...
How J.P. Morgan steered clear of the credit crunch - CNN MoneyNEW YORK (Fortune) -- It was the second week of October 2006. William King, then J.P. Morgan's chief of securitized products, was vacationing in Rwanda. One evening CEO Jamie Dimon tracked him down to fire a red alert. "Billy, I really want you to ...

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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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