Mortgage and Financial News From 2008-9-29 Page 8
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Stocks tumble as bailout plan fails in House (AP via Yahoo! Finance)
Wall Street plunged precipitously Monday, at one point sending the Dow Jones industrials down more than 735 points as investors feared that the failure of the government's financial rescue plan in the House will force the country into a worsening credit and economic crisis.
2008-09-29 12:52:25 -
Oil plunges $10 as bailout plan fails (KGO-TV Bay Area)
Oil prices plunged over $10 a barrel Monday as a U.S. financial bailout plan failed to win legislative approval.
2008-09-29 12:53:37 -
Congress, White House forge $700B bailout (Columbia Daily Herald)
WASHINGTON — Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration.
2008-09-29 12:55:58 -
Toronto market loses more than 900 points as bailout plan defeated (Barrie Examiner)
TORONTO - The Toronto stock market lost almost eight per cent of its value, or approximately $108 billion, after the U.S. House of Representatives [...]
2008-09-29 12:56:28 -
House begins $700 billion bailout vote - Seattle Times
"So, it now seems that they've reached a deal to keep the wealthy... well, wealthy. This was never about saving our economy, and all about the loss of money/power by the friends of Bush - the very people who've caused this problem! Write your ...
2008-09-29 10:30:00 -
Bush confident bailout bill will stabilize economy - Seattle Post Intelligencer
WASHINGTON -- Buffeted by unusually aggressive pressure from the White House, House members debated hotly-contested Wall Street bailout legislation Monday as a key architect conceded its unpopularity. "Many of us feel that the national interest ...
2008-09-29 10:08:00 -
Mortgages for Ibiza expats - The Sun
IT'S party time for expats putting down roots in Ibiza because a new banking branch has opened in San Antonio - one of the most popular resorts for British tourists. A team of English and Spanish-speaking colleagues at the Banco Halifax Hispania ...
2008-09-29 06:55:00 -
House begins voting on $700 billion bailout for financial companies - Newsday
WASHINGTON (AP) _ The House has begun voting on a $700 billion emergency rescue package for beleaguered financial companies. Even as the electronic roll call began, Democratic and Republican leaders were uncertain about having enough votes to pass ...
2008-09-29 10:30:00 -
Bradford & Bingley is nationalised (Evening Standard)
The global credit crisis claimed its latest victims as the Government seized control of ailing mortgage lender Bradford & Bingley. The second nationalisation of a UK bank in seven months came alongside a state bail-out of Belgium's Fortis and a takeover of US bank Wachovia by Citigroup.
2008-09-29 10:29:50 -
Canada Stocks Extend Drop, Led by Canadian Natural, Potash, RIM (Bloomberg)
Sept. 29 (Bloomberg) -- Canadian stocks fell, pushing the main index near a two-year low, as energy and raw-materials shares slid along with commodity prices on concern that the U.S. plan to unlock lending will fail to avert a slowdown.
2008-09-29 10:34:43 -
Bradford & Bingley Covered Bonds Get U.K. Guarantee (Update2) (Bloomberg)
Sept. 29 (Bloomberg) -- The U.K. Treasury said today it will guarantee Bradford & Bingley Plc's covered bonds after initially indicating it would not safeguard the mortgage-backed debt.
2008-09-29 10:42:30 -
Bigger Is Better (Forbes)
In a time of financial crisis, it turns out size does matter. Just ask Citigroup chief Vikram Pandit.
2008-09-29 10:45:21 -
Wachovia demise hurts stock of National City (Crain's Cleveland Business)
The Cleveland-based banking company saw its share price driven down again after a second major troubled bank was sold to a larger competitor.
2008-09-29 10:50:33 -
Wachovia's Top Holders Dodge & Cox, Fidelity Loaded Up on Stock (Bloomberg)
Sept. 29 (Bloomberg) -- Wachovia Corp. shareholders Dodge & Cox and Fidelity Investments loaded up on shares in the quarter ended June 30, and may have lost as much as $4.5 billion as Citigroup Inc.
2008-09-29 10:56:29 -
Britain nationalizes Bradford and Bingley - Globe and Mail
LONDON — Britain nationalized Bradford & Bingley on Monday, making the buy-to-let mortgage lender the second U.K. bank to be taken into public ownership this year as a deepening financial crisis claims more victims around the world. After intense ...
2008-09-29 05:22:00