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Bailout: 'No Lasting Positive Effect' - Common Dreams
The group Jobs with Justice is organizing protests around the country today. Thindwa is executive director of Chicago Jobs with Justice ; Tobin is the group's Midwest regional organizer. The protest in Chicago begins at noon Chicago time in front of ...

Foreclosure fight - MetroTimes
As it became clear last week that the $700 billion federal bailout was failing and talks to avert a worldwide economic meltdown continued, protesters in Detroit called for immediate action they say would address a fundamental part of the crisis ...

ECONOMY-US: Bailing Out a Boat Full of Holes - Inter Press Service
BOSTON, Oct 7 (IPS) - The U.S. Treasury's bonanza from Congress to hand out 700 billion dollars to Wall Street is not what the country needs to right its shaky economy, many independent experts say. "Despite the bailout, it's clear the economy is ...

Is today's economic crisis another Great Depression? - WBIR
Failed banks. Panicked markets. Rising unemployment. For students of history, or people of a certain age, it all has an all-too-familiar ring. Is this another Great Depression? Not yet. By any measure, our current economic suffering pales in ...

Government bails out AIG with $85 billion loan - Inrich.com
WASHINGTON (AP) -- For the second time this month, the U.S. government intervened to bail out a private financial company, saying the failure of the huge insurer American International Group Inc. would further disrupt markets and threaten the already ...

Government Loans $85B To Save AIG - WCPO
WASHINGTON (AP) -- In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined ...

Markets Melting Worldwide On US Fallout - WLWT 5
The government's bailout of insurer American International Group failed to quell the turmoil. The key averages closed at their lows of the day. According to preliminary figures, the Dow fell 449 points to 10,609. The S&P 500 dropped 57 points to 1 ...

US Govt announces $85 billion loan to rescue AIG - Sify
Washington: In a bid to save financial markets and economy from further turmoil, the US government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a ...

The Financial Crisis: Now What? - Common Dreams
DAVID KOTZ Kotz is professor of economics at the University of Massachusetts at Amherst. He said today: "The $700 billion Paulson bailout bill passed Congress, but as its critics warned, it has not stemmed -- or even slowed -- the financial crisis ...

Fed shows tough love and holds key rate steady - Yahoo News
WASHINGTON - Showing a tough love stance for now, Federal Reserve Chairman Ben Bernanke and his colleagues decided to keep a key interest rate steady Tuesday. They acknowledged stresses in financial markets have grown, though, and hinted they stood ...

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Today's Mortgage Terms starting with J

  • Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
  • Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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