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Obama’s idea of change appears to be no change at all - New Haven RegisterTHIS is not change we can believe in. Not if Robert Rubin or his protege, Lawrence Summers, get to call the shots on the economy in President-elect Barack Obama's incoming administration. Both Clinton-era treasury secretaries deserve a great deal of ...
Transcript: Obama and Clinton Debate - ABC NewsAnd I think those are the kind of broad issues that a president has to take into account. GIBSON: And, Senator Obama, your campaign manager, David Plouffe, said, "When he is" -- this is talking about you -- "When he is elected president, we will be ...
Citigroup's deal makers lacked supervision - International Herald TribuneIn September 2007, with Wall Street confronting a crisis caused by too many souring mortgages, Citigroup executives gathered in a wood-paneled library to assess their own well-being. There, Citigroup's chief executive, Charles Prince 3rd, learned for ...
Citigroup stew took years to cook - Herald TribuneThere, Citigroup's chief executive, Charles O. Prince III, learned for the first time that the bank owned about $43 billion in mortgage-related assets. He asked Thomas G. Maheras, who oversaw trading at the bank, whether everything was OK. Maheras ...
Citigroup Pays for a Rush to Risk - Blueridgenow.com“Our job is to set a tone at the top to incent people to do the right thing and to set up safety nets to catch people who make mistakes or do the wrong thing and correct those as quickly as possible. And it is working. It is working.” Click to ...
No parole for scam man - Edmonton SunConvicted mortgage-fraud kingpin Gohar Pervez plans to dive right back into the real estate business just as soon as he is released from prison, National Parole Board documents indicate. The same documents detail the reasons for denying Pervez's ...
TOPWRAP 1-Obama picks point men for crisis fight back - ForbesWASHINGTON/LIMA, Nov 23 (Reuters) - U.S. President-elect Barack Obama has picked two experienced policymakers, Timothy Geithner and Lawrence Summers, to spearhead the fight against the global financial crisis -- appointments which should bring some ...
Brasch Words - American ReporterBLOOMSBURG, Pa. -- President George W. Bush gazed into the cameras on a Tuesday morning in July and tried to assuage the fears of about 300 million Americans who believed they were in the middle of a recession. "The economy is growing," said the ...
Geithner's experience shapes him for Treasury role - ReutersWASHINGTON (Reuters) - Timothy Geithner was on every short-list to take over the U.S. Treasury Department for the singular reason that he has been involved in virtually all major efforts to restore stability to shaky financial markets. Still a ...
Obama picks point men for crisis fight back - International Herald TribuneU.S. President-elect Barack Obama has picked two experienced policymakers, Timothy Geithner and Lawrence Summers, to spearhead the fight against the global financial crisis -- appointments which should bring some cheer to world markets Obama, who ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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