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October 12, 2008 1:29:43 PM CDT

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Stories related to: subprime mortgages

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Stories 61 - 80 of 223

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  • December 2007

    • Banks Face Simpler, Tougher Times

      Wall Street Journal  |  Dec 26, 07 3:03 PM CST

      Banks Face Simpler, Tougher Times

      (Newser) - Investors waiting for the big banks to turn it around after 2007’s subprime debacle might be waiting a long time, the Wall Street Journal warns. The credit crunch has unraveled a complicated modern banking model that gave big firms nearly total balance sheet flexibility. “It was a different world,” said one analyst. Now, banks must “think real hard about their new business model.” More »

      Tags

      credit crisis  • subprime mortgages  • banking  • mortgage backed securities  • balance sheets

    • Commercial Properties Squeezed

      Wall Street Journal  |  Dec 26, 07 8:05 AM CST

      Commercial Properties Squeezed

      (Newser) - Add the once-solid commercial real estate market to the list of sectors felled by the subprime mortgage contagion, as owners of malls, apartment complexes and office buildings have seen financing disappear, prices plunge and the pace of sales dwindle 50%, reports the Wall Street Journal. Lenders, burned by the residential debacle, have become reluctant to risk commercial exposure. More »

      Tags

      subprime mortgages  • real estate values  • commercial real estate  • office buildings  • commercial paper

    • 2007: Asia's Banner Year

      Bloomberg  |  Dec 24, 07 2:19 PM CST

      2007: Asia's Banner Year

      (Newser) - Asia's economies are soaring so mightily that Bloomberg columnist William Pesek is passing out awards for Asia's big players in 2007. They range from a “Money Talks” prize, for Arab and Asian leaders who bailed out Wall Street banks, to the “Howard's End” trophy, for Australian PM Kevin Rudd's brave embrace of the Kyoto Protocol. "Yet the biggest news was a not-so-subtle shift in Asia's role in global markets," Pesek writes. More »

      Tags

      US economy  • subprime mortgages  • India  • Australia  • Thailand  • Asia  • Kevin Rudd  • Chinese economy

    • Merrill Deal Yields $6.2B in Capital

      Wall Street Journal  |  Dec 24, 07 1:07 PM CST

      Merrill Deal Yields $6.2B in Capital

      (Newser) - With another quarter of massive writedowns looming, Merrill Lynch today announced a deal to raise up to $6.2 billion by selling discounted stock to two investors. Up to $5 billion will come from Temasek Holdings, Singapore's state-owned investment company. The other $1.2 billion comes from money managers Davis Selected Advisors, the Wall Street Journal reports. More »

      Tags

      subprime mortgages  • Wall Street  • Merrill Lynch  • Singapore  • stock price  • capital

    • Americans Falling Behind on Credit Cards

      Associated Press  |  Dec 23, 07 10:35 PM CST

      Americans Falling Behind on Credit Cards

      (Newser) - It’s already looking like an iffy New Year for many credit-card holders: the number of Americans falling behind on their payments spiked sharply this year and analysts don’t expect 2008 to be much brighter. The value of credit card accounts at least 30 days late surged 26% in October to $17.3 million, the AP found. Defaults—when lenders give up and write off the debt—jumped 18% to almost $961million. More »

      Tags

      Federal Reserve  • subprime mortgages  • JPMorgan Chase  • Bank of America  • debt  • credit card  • job market  • default  • home equity loans  • Capital One  • refinanced mortgages  • Discover

    • Squeezed Owners Seek Tax Break as Home Values Drop

      New York Times  |  Dec 23, 07 6:45 AM CST

      Squeezed Owners Seek Tax Break as Home Values Drop

      (Newser) - With property values falling across much of the nation, more homeowners are asking for reassessments, looking for a break from property taxes that inflated before the subprime mortgage balloon burst, reports the New York Times . For local governments, especially in areas already suffering from high rates of foreclosure, declining property taxes could cause budget cuts, service reductions and layoffs. More »

      Tags

      subprime mortgages  • foreclosure  • mortgage  • real estate  • home sales  • real estate values

    • Banks Scuttle SIV Bailout

      Wall Street Journal  |  Dec 21, 07 3:56 PM CST

      Banks Scuttle SIV Bailout

      (Newser) - The three banks charged by Treasury with setting up a fund to bail out investments threatened by the subprime mess are abandoning the project, the Wall Street Journal reports. Citigroup, Bank of America and JP Morgan Chase had been working since September on the plan to rescue structured investment vehicles, but they have struggled to raise money for the project. More »

      Tags

      subprime mortgages  • Citigroup  • JPMorgan Chase  • Bank of America

    • Merrill Lynch Seeking $5B Cash From Singapore

      Wall Street Journal  |  Dec 21, 07 7:49 AM CST

      Merrill Lynch Seeking $5B Cash From Singapore

      (Newser) - Facing a fourth-quarter writedown of an estimated $8 billion in subprime paper, Merrill Lynch is negotiating with Singapore’s state-owned investment fund Temasek Holdings for a $5-billion cash infusion, the Wall Street Journal reports. If the deal goes through, Merrill would join several other Western financial institutions bailed out by Asian or Mideastern governments since November. More »

      Tags

      subprime mortgages  • Merrill Lynch  • Morgan Stanley  • UBS

    • SEC Probes WaMu Home Loans

      Wall Street Journal  |  Dec 21, 07 4:06 AM CST

      SEC Probes WaMu Home Loans

      (Newser) - Washington Mutual, one of America's largest mortgage lenders and the biggest savings and loan in the nation, is under investigation by the Securities and Exchange Commission, reports the Wall Street Journal . Regulators suspect some WaMu mortgages were based on inflated appraisals. WaMu, bloodied by the subprime mortgage crisis, lost $348 million on home loans in the third quarter. More »

      Tags

      subprime mortgages  • Fannie Mae  • Freddie Mac  • SEC  • Washington Mutual  • Andrew Cuomo  • WaMu  • appraisals

    • Morgan Stanley CEO Feels Heat

      Wall Street Journal  |  Dec 20, 07 11:37 AM CST

      Morgan Stanley CEO Feels Heat

      (Newser) - When John Mack became Morgan Stanley’s CEO in 2005, he told the company to take more risks. “You’ve lost your swagger,” he told his traders. Now, after several questionable moves and yesterday's staggering $9.4 billion writedown, swagger isn’t looking so hot—and Mack could be sent packing, the Wall Street Journal reports. More »

      Tags

      subprime mortgages  • Morgan Stanley  • CEOs  • John Mack  • Zoe Cruz

    • Bear Stearns Posts First Loss

      Bloomberg  |  Dec 20, 07 9:19 AM CST

      Bear Stearns Posts First Loss

      (Newser) - Analysts expected Bear Stearns to post its first-ever loss today, they just expected it to be smaller. After $1.9 billion in subprime writedowns, the company posted a $6.91 loss per share, dwarfing the $1.82 analysts predicted. Executives gave up their bonuses, as revenue from debt sales and trading were wiped out, Bloomberg reports. “They’ve got a myriad of problems,” one analyst said. More »

      Tags

      subprime mortgages  • Bear Stearns  • earnings reports  • writedowns  • quarterly reports

    • Feds Investigate Bear Stearns Fund Manager

      Bloomberg  |  Dec 19, 07 12:00 PM CST

      Feds Investigate Bear Stearns Fund Manager

      (Newser) - The manager of hedge funds that lost $1.6 billion when they went bankrupt in July has left Bear Stearns, and federal investigators are looking into whether he withdrew his own money before the collapse. Ralph Cioffi moved $2 million in March—before the funds tanked in the subprime collapse—to another Bear offering, Bloomberg reports; the feds are investigating. More »

      Tags

      subprime mortgages  • Bear Stearns  •