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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: subprime crisis

subprime crisis stories: 284 news summaries

61 - 80 of 284 Stories | << Prev 1 2 3 4 5 6 7 8 ... 15 Next >>

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 Market Crunch 
 Spanks UK 
 Nannies 

Unemployed mom and dad cut child care costs

Sep 21, 08 4:56 AM CDT
(Newser) - British nannies are lining up for jobs alongside the bankers and financiers who once employed them, Reuters reports. Renowned as the world's best, Britain's nannies are losing work to the credit crunch that has wiped out US investment banks and rippled through London's financial district, threatening thousands of jobs. Problems... More »

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England • job market • nanny • subprime crisis

ANALYSIS

 Wall Street's 
 Falling Stars 
 Burn Hollywood 

Studios scale back films, lose capital

Sep 18, 08 1:40 PM CDT
(Newser) - When Steven Spielberg is feeling a budget pinch, you know the financial crisis is bad. His hunt for financing on a new studio deal gets tougher with each day of bad news from Wall Street, Time reports. With credit as tough to come by in Hollywood as everywhere else, many... More »

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Wall Street • Hollywood • Steven Spielberg • credit crisis • subprime crisis • Hollywood studios • financial crisis

OPINION

Cheer Up!
Total Financial Market Meltdown Isn't All Bad

Five reasons to fiddle while Wall Street burns

Sep 18, 08 1:15 PM CDT
(Newser) - For a dedicated silver-lining hunter like Michael Lewis, there are plenty of upsides to the total collapse of the US financial system. “A lot of attractive office space seems to be opening up in midtown Manhattan, for instance,” he writes in Bloomberg. Here are five other reasons to... More »

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financial markets • Lehman Brothers • credit market • financial sector • subprime crisis

OPINION

Forget Arugula: Dems Should Hit GOP on Fiscal Crisis

But they should ignore the arugula and hammer on GOP moves that created this mess

Sep 17, 08 2:58 PM CDT
(Newser) - Put aside the arugula and forget "priggish" counter-attacks on Sarah Palin, Thomas Frank advises Democrats. The way to win the culture war being waged by Republicans is to point out what GOP dominance over the last quarter century has done: removed fiscal safeguards and brought us "to the... More »

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Democrats • Republican • financial markets • labor unions • subprime crisis • deregulation • culture wars • financial crisis

What Is AIG?
(Now That We Own It)

From aircraft leasing arm to  wealth management group

Sep 17, 08 9:49 AM CDT
(Newser) - For one thing, the insurance behemoth the Federal Reserve just acquired for $85 billion is profitable, explains the New York Times. AIG, which started out insuring assets in Asia, is wildly diversified and sprawling globally. Businesses range from retirement plans in the US to life insurance in the Philippines to... More »

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Federal Reserve • insurance • AIG • mutual funds • subprime crisis • bailout • financial crisis

Fed Considers AIG Bailout; Ex-CEO Weighs Proxy Fight

Hank Greenberg, forced out in 2005, among investors mulling options

Sep 16, 08 3:55 PM CDT
(Newser) - Reversing course, the Fed is considering a bailout package to help boost the liquidity of suddenly beleaguered AIG, even as the mega-insurer's ex-CEO considers a move to take control through a proxy fight or buyout, Bloomberg reports. In a regulatory filing, Hank Greenberg, who retired under pressure in 2005, says... More »

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investors • Lehman Brothers • AIG • Hank Greenberg • subprime crisis • banking industry • financial crisis

ANALYSIS

 Denial Exacerbated Meltdown 

Banks, like homeowners, refused to believe how bad things really are

Sep 16, 08 1:04 PM CDT
(Newser) - The collapse of Lehman Brothers and the fire sale of Merrill Lynch are stunning developments, Joe Nocera writes in the New York Times, as is the fact Goldman Sachs and Morgan Stanley are the only big investment banks standing. But the turmoil isn’t simply the result of complex trading... More »

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Goldman Sachs • Morgan Stanley • Merrill Lynch • Lehman Brothers • mortgage debt • banking • subprime crisis • investment banks

ANALYSIS

Paulson Played Cards Well
in High-Stakes Showdown

Paulson, remaining banks struggle to pull the market back together

Sep 16, 08 12:27 PM CDT
(Newser) - Cue the Kenny Rogers, suggests Steve Pearlstein in the Washington Post; “Hank Paulson knows when to hold ‘em and when to fold ‘em.” Paulson was so determined not to commit federal dollars to bail out Lehman Bros. that when the banks said they couldn't step in... More »

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Federal Reserve • Henry Paulson • Lehman Brothers • subprime crisis • bailout • banking industry • financial crisis

EARNINGS REPORTS

 Goldman Profit Drops 70%, 
 Still Beats Estimates

Revenue cut by half, but firm helped by less mortgage exposure

Sep 16, 08 8:37 AM CDT
(Newser) - Amid the financial industry's meltdown, survivor Goldman Sachs reported that third-quarter profit plunged by 70% —the sharpest decline in its history as a public company, but still enough to beat estimates of $1.71 per share. The bank dipped 7% in New York trading, Bloomberg reports, after reporting an... More »

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Goldman Sachs • earnings reports • housing crisis • subprime crisis • investment banks • financial crisis

analysis

Markdown Sparked Lehman Meltdown; More to Come

Other firms could follow suit, meaning widespread losses

Sep 15, 08 9:38 AM CDT
(Newser) - What caused two venerable investment banks to implode this weekend, and how much more damage can we expect? It started when Lehman Bros. surprised markets by slashing the valuation of its mortgage holdings last week, making downward revisions so steep that "even longtime bears on the stock thought the... More »

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Merrill Lynch • Lehman Brothers • AIG • writedowns • subprime crisis • financial crisis

markets

Get Set for Disorderly Lehman Liquidation


Sep 14, 08 7:24 PM CDT
(Newser) - Barclay's dropping out of a Lehman deal means that the Feds lost a game of chicken with the big banks holding Lehman mortgages, and now there will be a disorderly liquidation of Lehman assets, instead of the orderly liquidation that would have been possible with a real buyer, James Cramer... More »

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Citigroup • Barclays • Merrill Lynch • bank • Lehman Brothers • AIG • subprime crisis • financial crisis

Medvedev Urges Calm in Russian Market Crisis

With stocks off big,
bank chief warns of
lack of liquidity

Sep 11, 08 4:40 PM CDT
(Newser) - The Russian economy is skidding, and its leaders are giving somewhat contradictory messages, the AP reports. Shortly after President Dmitry Medvedev assured the public today that stock-market troubles don’t “reflect the actual state of the economy,” the chairman of the country’s central bank said “as... More »

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Russia • stock exchange • central bank • liquidity • Dmitry Medvedev • subprime crisis • oil prices • Sergei Ignatyev • stock index • financial crisis

analysis

 Lehman: Finding 
 a Buyer Will Be Tough 

Experts worry there may be no one that can put the big deal together

Sep 11, 08 8:30 AM CDT
(Newser) - Lehman Brothers is in the same bind as home sellers in a tight real estate market: they have a great asset for sale, but nobody has the money to buy, reports Bloomberg. The bank hopes to auction 55% of its asset-management fund, but experts say interested investors may not be... More »

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Lehman Brothers • LBO • subprime crisis • spin-off • Richard Fuld

McCain, Obama Both Have Ties to Loan Giants

Both took cash from leaders; McCain's manager is GSEs' ex-lobbyist

Sep 10, 08 7:01 AM CDT
(Newser) - Barack Obama and John McCain are both railing against the excesses of Fannie Mae and Freddie Mac on the campaign trail, and promising to end the lobbyist culture in Washington that led to their fall. But both candidates and their parties have multiple ties to Fannie and Freddie, the New ... More »

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Barack Obama • John McCain • Freddie Mac • Fannie Mae • subprime crisis • political donations • financial crisis

ANALYSIS

 Battle Lines Drawn in 
 Freddie, Fannie Fight 

Making mortgage giants public, breaking them up or nursing them to health seen as options

Sep 9, 08 9:21 AM CDT
(Newser) - What Freddie Mac and Fannie Mae look like in the future—and whether they continue to exist in a recognizable form at all—depends on how Washington looks next year, the New York Times reports. The battle already has begun, with the White House and congressional Democrats blaming each other... More »

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Bush administration • Freddie Mac • Fannie Mae • subprime crisis • bailout • financial crisis

ANALYSIS

In Times of Crisis, Paulson's the 'Decider'

Fannie-Freddie bailout shows Treasury sec enjoys a free hand

Sep 9, 08 6:12 AM CDT
(Newser) - Last week, a small group met in the Oval Office to discuss the impending takeover of Fannie Mae and Freddie Mac. But while President Bush convened the meeting, there was no mistaking who was running the show: Hank Paulson, who had first floated public ownership and who oversaw every aspect... More »

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Cabinet • Henry Paulson • Freddie Mac • Fannie Mae • Treasury Department • subprime crisis • George W. Bush • financial crisis

Analysis

US Must Strike Fine Balance on Mortgage Bailout

Deficit makes coordinated response economically, psychologically crucial

Sep 8, 08 11:34 AM CDT
(Newser) - A global storm continues to threaten the world’s economies, and the US government takeover of Fannie Mae and Freddie Mac is just one step, albeit a major one, toward recovery. Whether the latest attempt to right the ship succeeds "ultimately boils down to two big issues," writes... More »

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Bush administration • Freddie Mac • Fannie Mae • subprime crisis • bailout • credit market chaos • financial crisis

Fannie, Freddie Deal May
Ease Rates, Cut Foreclosures

Federal takeover may help refresh housing market as dust settles

Sep 8, 08 7:47 AM CDT
(Newser) - How will the government’s seizure of Fannie Mae and Freddie Mac affect homeowners and buyers? In the short term, the New York Times says, interest rates may fall some, but probably not enough to stop the slide in home prices. Some facing foreclosure could have a better chance at... More »

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takeover • Freddie Mac • Fannie Mae • mortgage rates • subprime crisis • financial crisis

 WaMu 
 Cans 
 CEO 
 Killinger 

From rapid expansion and growth to rapid decline, WaMu is in deep trouble

Sep 8, 08 5:38 AM CDT
(Newser) - The enduring subprime contagion has claimed another victim, as downtrodden Washington Mutual has forced out CEO Kerry Killinger, reports the Wall Street Journal. Killinger, who has led the nation’s largest thrift since 1990, and has taken it from a small Seattle business into one of the nation’s... More »

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Washington Mutual • WaMu • subprime crisis • mortgage defaults • Kerry Killinger

Lehman Considers 'Good Bank/Bad Bank' Split

Sheltering troubled mortgage debt expected to bolster confidence

Sep 5, 08 10:22 AM CDT
(Newser) - Lehman Brothers is considering splitting itself into two banks, a “bad bank” to house its $30 billion in troubled mortgage and real estate holdings, and a “good bank” to carry on with the help of a new investor or two, the New York Times reports. The move, which... More »

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Wall Street • finance • Lehman Brothers • mortgage debt • subprime crisis

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