Mortgage and Financial News From 2008-9-29 Page 11
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Huge Fall In Mortgage Lending - Sky.com
Mortgage lending plunged by 95% in August compared with the month before, according to the Bank of England. Net lending was only £143m during August, which was a fraction of July's sum of just under £3bn. Last month's figure was the lowest ever ...
2008-09-29 02:01:00 -
Australia to complete first RMBS tender in Dec - Forbes
SYDNEY, Sept 29 (Reuters) - The Australian government plans to complete the first tender of its residential mortgage-backed securities programme in December, the Australian Office of Financial Management (AOFM) said on Monday. A second tender is ...
2008-09-29 01:40:00 -
Stock market and pound plunge as taxpayers pick up the £40bn bill for Bradford & Bingley's bad debt (Daily Mail: World News)
The Stock Exchange plunged today after the nationalisation of the country's biggest mortgage lender left taxpayers facing a multi-billion pound bill.
2008-09-29 06:14:32 -
IN CASE YOU MISSED IT: Watch the video, read the transcript of Friday's presidential debate (Detroit Free Press)
Just plugging back in after your weekend? See what people are talking about by watching or reading Friday's debate between Sen. John McCain and Sen. Barack Obama.
2008-09-29 06:26:44 -
Another blow for borrowers as Lloyds puts up its mortgages (Evening Standard)
Lloyds TSB today became the latest major lender to raise its mortgage rates in response to global turmoil in the financial markets.
2008-09-29 06:29:30 -
Citigroup Buys Banking Operations of Wachovia (New York Times)
The sale would further concentrate Americans? bank deposits in the hands of just three banks: Bank of America, JPMorgan Chase and Citigroup.
2008-09-29 06:38:34 -
London afternoon: Bank failures haunt markets (ShareCast)
LONDON (SHARECAST) - Footsie is struggling under the weight of more bank failures and weak mining stocks. Spanish banking group Santander has bought the savings arm and branch network of Bradford & Bingley but combined with the collapse of Benelux bank Fortis and German group Hypo Real Estate, bank shares are friendless again.
2008-09-29 06:51:45 -
Biden: Protect taxpayers in mortgage rescue - San Francisco Gate
Joe Biden says the government's rescue of the big mortgage companies Freddie Mac and Fannie Mae should not mean bailing out shareholders at the expense of taxpayers. The Democratic nominee for vice president says it is important to help homeowners ...
2008-09-06 09:48:00 -
Opening Step on Long Road - The Ledger
The rescue plan would use taxpayer money — $350 billion initially, and up to $700 billion with Congressional approval — to buy mostly soured mortgage-backed securities from Wall Street firms and banks.
2008-09-29 02:23:00 -
A Gut-Wrenching Ride - Washington Post
Bank failures. Investment firm takeovers. Insurance company collapses. The meltdown in the credit markets is dragging down an ever-growing list of financial institutions. Is also is reshaping the Washington business community. One needs to look no ...
2008-09-29 02:08:00 -
B&B nationalised as Government takes on £40bn mortgage debt - Times Online
The Government officially nationalised the bulk of Bradford & Bingley this morning, seizing £50 billion of assets and bankrolling the deposit protection lifeboat to ensure the ordinary 2.6 million depositors will not lose out. Banco Santander, the ...
2008-09-29 12:43:00 -
House to vote on $700 billion market bailout - Forbes
With the House slated to vote Monday on a deeply unpopular $700 billion rescue plan for beleaguered financial companies, President Bush and congressional leaders were scrambling to corral support. Bush called the election-year vote a difficult one ...
2008-09-29 03:20:00 -
Bailout plan to face big spotlight today - Detroit Free Press
WASHINGTON -- After reaching a compromise to pump $700 billion into the world's financial markets, lawmakers took on an even tougher task Sunday: selling the pact to skeptical colleagues and wary Americans. As congressional leaders fanned out to ...
2008-09-29 03:34:00 -
Some look to buy distressed assets - Boston Globe
Boston's Bain Capital and Bank of New York Mellon, along with major investment firms around the country, want to add a new wrinkle to the $700 billion federal bailout proposal: a chance to buy the same distressed, mortgage-related assets the ...
2008-09-29 04:24:00 -
A previous debacle offers lessons for those who must manage the bailout (International Herald Tribune)
The Resolution Trust Corp., set up to solve savings-and-loan problems in 1989, soon found itself dealing with an array of nuts-and-bolts problems.
2008-09-29 05:06:39