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Is the $700 Billion Bailout Too Flexible? - AOL
(Nov. 18) - "Slush fund" ... "banana republic" ... "Keystone Kops." That's how some observers are describing the government's effort to stabilize the financial system, including its centerpiece rescue mechanism, known as the TARP. Hatched hastily ...

TARP: A Rescue Plan or Uncertain Scramble? - Yahoo Finance
"Slush fund" ... "banana republic" ... "Keystone Kops." That's how some observers are describing the government's effort to stabilize the financial system, including its centerpiece rescue mechanism, known as the TARP. Hatched hastily about two ...

November 2008 - Posts - MSNBC Firstread
For the Thanksgiving holiday, we are suspending our morning note (including First Thoughts) for next week. Don't fret too much, though. We will still be doing updates as usual throughout the day on Monday, Tuesday and Wednesday. Patrick Gaspard will ...

Jeffrey Scharf, Everybody's Business: Oh, the tangled web we weave - Santa Cruz Sentinel
What a tangled web we weave once we practice to relieve. In October, the $700 billion TARP -- the Troubled Asset Relief Program -- was rammed through a panic-stricken Congress. The program, which has had more makeovers in a month than Madonna has had ...

Despite level prices, slowing home sales could spell trouble for local ... - Pittsburgh Post-Gazette
A profound plunge in the number of single-family homes bought and sold in the Pittsburgh metropolitan area was most likely brought on by a severe combination of tighter lending standards that have made it more difficult to obtain mortgages and buyers ...

Congress Blames Treasury as Foreclosures Mount - Common Dreams
BOSTON - A congressional banking leader Tuesday blew hot air and blame at the U.S. treasury secretary about the ongoing home foreclosure crisis, but neither made a commitment to help stressed homeowners. Congress is officially out of session, except ...

Labor unions look to cash in with Dems - Politico.com
Organized labor spent tens of millions of dollars putting Democrats in Congress and the White House. Now, as the new Democratic majority gets ready to take office, unions are ready to cash — or, rather, check — in. The Employee Free Choice Act ...

The Only Cure for a Bubble... - Safe Haven
For the week, the S&P 500 dropped 6.2% (down 40.5% y-t-d) and the Dow fell 5.0% (down 35.9%). Economically-sensitive stocks were hit hard. The Morgan Stanley Cyclicals sank 9.6% (down 54.3%). Transports dropped 4.7% (down 23.5%), the Morgan Stanley ...

In the News - Opensecrets.org
Like the Energizer Bunny, Barack Obama's $640-million fundraising machine is still going and going, now soliciting private donations to make the Democrat's transition to the White House as smooth as possible. By setting up a nonprofit corporation ...

No regular session - Stateline
Several key issues were left on the table as squabbling Alabama legislators — widely criticized last year for their lack of productivity — could not put their differences aside. It even took an $110,000 special session to pass an education budget ...

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Today's Mortgage Terms starting with I

  • Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
  • Initial Rate: The rate charged for the first interval of an ARM loan.
  • Interest: Compensation in the form of money paid for the use of money.
  • Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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