Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: subprime crisis

subprime crisis stories: 284 news summaries

81 - 100 of 284 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 15 Next >>

Switch to grid view »

 Feds Charge Brokers 
 in $1B Subprime Fraud 

Credit Suisse pair told clients debt backed by student loans, not risky mortgages: SEC

Sep 3, 08 12:33 PM CDT
(AP) - Federal regulators today charged two Wall Street brokers with defrauding their customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages. The Securities and Exchange Commission alleges the Credit Suisse Securities employees led corporate customers to believe that securities being purchased in their accounts... More »

MORE ABOUT:
fraud • Credit Suisse • white collar crime • subprime crisis

OPINION

Fannie-Freddie Merger:
The Math Adds Up

As both companies plummet, combining them might make sense

Sep 2, 08 10:54 AM CDT
(Newser) - With Fannie Mae and Freddie Mac struggling to stay afloat, arguments for a merger are gathering steam. “Sometimes size can be a strength,” writes Andrew Ross Sorkin in the New York Times. The companies spent $1.825 billion in total overhead in the first half of 2008 doing... More »

MORE ABOUT:
Freddie Mac • Fannie Mae • credit crisis • housing crisis • subprime crisis • mortgage defaults • financial crisis

McMahon Home Woes Persist

Mystery buyer drops out, but Donald Trump may still spring for Beverly Hills mansion

Aug 30, 08 6:16 PM CDT
(Newser) - Ed McMahon’s money woes continued this week when the sale of his house fell through. The mystery buyer who had topped Donald Trump's offer "did not perform on a specific point of the contract," McMahon's realtor said—although Trump's bid is apparently still on the table. McMahon's... More »

MORE ABOUT:
Donald Trump • foreclosure • celebrity • Beverly Hills • subprime crisis • mansion • Ed McMahon

(Newser) - As the stock prices of mortgage giants Fannie Mae and Freddie Mac plunged 80% this year, employees of the companies helplessly watched their fortunes sink with the ship, the New York Times reports. For instance, Fannie Mae’s workers owned $116 million in company stock at the end of 2006;... More »

MORE ABOUT:
Freddie Mac • Fannie Mae • credit crisis • stock price • subprime crisis • stockholders • retirement benefits • financial crisis

 Top Execs Booted at Fannie Mae

Shake-up aims to boost investor confidence in hemorrhaging firm

Aug 28, 08 2:48 AM CDT
(Newser) - Battered mortgage-finance provider Fannie Mae has ousted three top executives in a bid to boost investor confidence, Bloomberg reports. Fannie Mae CEO Daniel Mudd is replacing his chief officers for finance, business and risk management as he struggles to prove that the company has enough capital to ride out the... More »

MORE ABOUT:
Henry Paulson • Freddie Mac • Fannie Mae • credit crisis • subprime crisis • Stephen Swad • Robert Levin

Home Sales Up in July; Market Glut Begins to Ease

Inventory still high as monthly declines ease

Aug 26, 08 10:53 AM CDT
(Newser) - New home sales rebounded a bit in July, according to Commerce Department data released today, and the glut of properties on the market began to ease, Bloomberg reports. The 2.4% uptick in sales fell short of the pace economists were looking for—hitting a 515,000 annual pace rather... More »

MORE ABOUT:
home prices • housing sales • housing crisis • subprime crisis • home-price index

Korean Bank Warned Off Lehman Bros. Buy

Firm may be too big a risk: official

Aug 25, 08 2:49 PM CDT
(Newser) - The Korea Development Bank was warned today of rushing into a bid for Lehman Brothers by South Korea’s top banking official, the Financial Times reports. A Lehman investment may constitute too much risk for a state-owned bank, Jun Kwang-woo warned after last week’s news that, though KDB’s... More »

MORE ABOUT:
South Korea • Lehman Brothers • credit crisis • subprime crisis • investment banks • Korea Development Bank

Secret Lehman Sale Talks Fail

South Korean, Chinese investors balk at hefty $5B price for half
of troubled bank

Aug 21, 08 9:48 AM CDT
(Newser) - Secret talks earlier this month to sell up to half of struggling US investment bank Lehman Brothers to South Korean or Chinese buyers fell apart after last-minutes squabbles over details, the Financial Times reports. The bank, which is expected to announce up to $4 billion in writedowns next month, was... More »

MORE ABOUT:
Lehman Brothers • credit crisis • Citic Securities Co. • writedowns • sovereign wealth funds • subprime crisis • investment banks • Korean Development Bank

Lehman Shops Key Unit
in Quest for Cash

The troubled Wall Street firm is taking offers for its strong fund management wing

Aug 19, 08 8:50 AM CDT
(Newser) - Lehman Brothers is shopping a piece of its investment management unit, the Wall Street Journal reports, joining other large banks in shedding strong-performing businesses to offset mortgage meltdown losses. Lehman’s management business, which includes Neuberger Berman and hosts 27 mutual funds managing $22 billion in individual and institutional wealth,... More »

MORE ABOUT:
Blackstone Group • Citigroup • Carlyle Group • Merrill Lynch • Lehman Brothers • mutual funds • subprime crisis • investment banks

Fannie, Freddie Take Another Beating on Bailout Fears

Falling market caps raise investor fears of government action

Aug 19, 08 6:51 AM CDT
(Newser) - Share prices of Fannie Mae and Freddie Mac took another precipitous plunge yesterday as investors fear the home mortgage giants will not be able to avoid a government bailout, the Wall Street Journal reports. An article in Barron’s stoked smoldering concerns that the companies will not be able to... More »

MORE ABOUT:
Barron's • Freddie Mac • market capitalization • Fannie Mae • Treasury Department • credit crisis • subprime crisis • financial crisis

MARKETS

 Financials Skid, Spark Sell-Off 

Financials plummet on the prospect of a GSE bailout

Aug 18, 08 3:26 PM CDT
(Newser) - The markets took a tumble today as familiar fears about a government bailout of Fannie Mae and Freddie Mac returned to the fore, MarketWatch reports. Led by its financial components, the Dow fell 180.02 to close at 11,479.88. The Nasdaq shed 35.54, settling at 2,416.... More »

MORE ABOUT:
Dow Jones • Lehman Brothers • Nasdaq • Freddie Mac • Fannie Mae • credit crisis • subprime crisis • S&P 500 • financial stocks • financial crisis

Greenspan: Housing Will Hit Bottom in 2009

Skilled immigrants would help end
slump, he says

Aug 14, 08 11:19 AM CDT
(Newser) - Alan Greenspan said housing prices could continue to edge lower through 2009, but should “stabilize or touch bottom” in the first six months of the year, reports the Wall Street Journal. And, the former Fed chief says, while a government bailout of Freddie Mac and Fannie May was the... More »

MORE ABOUT:
Bush administration • Federal Reserve • economics • Alan Greenspan • capitalism • Freddie Mac • Fannie Mae • credit crisis • housing crisis • subprime crisis • bank regulation • financial crisis

Earnings

Fannie Misses Estimates, Slashes Dividend

Stock drops 12% in early trading

Aug 8, 08 8:37 AM CDT
(Newser) - Fannie Mae reported its fourth straight losing quarter today, Bloomberg reports, coming in $2.3 billion in the red and slashing its dividend. The $2.51-per-share loss far exceeded the 72-cent average predicted by analysts, much as Freddie Mac surprised investors two days ago. “Neither of these companies have... More »

MORE ABOUT:
corporate earnings • second quarter earnings • Freddie Mac • Fannie Mae • housing crisis • subprime crisis • financial crisis

2007 Mortgages Failing at Triple the Rate of 2006

Prime loans made in early 2007 are going bad at triple the rate of 2006 loans

Aug 7, 08 9:29 AM CDT
(Newser) - Mortgages procured in 2007 are souring at a rate nearly triple that of 2006, reports the Wall Street Journal, suggesting that the wallop to the financial system from forclosures could be far from over. Analysis done for the paper finds 0.91% of the prime loans issued in the... More »

MORE ABOUT:
foreclosure • Freddie Mac • subprime crisis • mortgage defaults • JPMorgan Chase

Wall Street May Scoop Up Troubled Pension Plans

Businesses stand to benefit, but opponents worry about big guns' motives

Aug 6, 08 11:05 AM CDT
(Newser) - Though still smarting from the subprime debacle, some of the Wall Street’s biggest players are lobbying the government to be allowed to buy up and manage some of the $2.3 trillion in US corporate pension funds, BusinessWeek reports. Many businesses, eager to get the plans off their books,... More »

MORE ABOUT:
investing • Cerberus Capital Management • Citigroup • subprime crisis • pension funds • JPMorgan Chase • financial crisis

Freddie Has 4th-Straight Loss as 2nd Quarter Charges Rise

Increase in foreclosures and associated fees, $1B writedown lead to $821M loss

Aug 6, 08 7:15 AM CDT
(Newser) - Rising delinquencies and a still-skidding home market combined to make Freddie Mac’s second quarter losses three times worse than analysts predicted, reports Bloomberg. The government-backed mortgage enterprise lost $821 million, or $1.63, in the quarter, prompting it to also announce a third quarter slash in dividends from... More »

MORE ABOUT:
corporate earnings • Freddie Mac • Fannie Mae • housing crisis • subprime crisis • financial crisis

ANALYSIS

 Financial Faith Is 
 Crisis' Top Casualty 

One year in, credit crunch has upset all expectations about modern markets

Aug 4, 08 2:35 PM CDT
(Newser) - Last summer, central banks injected hundreds of billions of dollars into the financial system, desperate to restore liquidity to battered markets. But by then the credit crunch was on—and after 12 months, it shows no signs of abating. The Financial Times looks at how risky US mortgages set off... More »

MORE ABOUT:
Wall Street • subprime mortgages • financial markets • global economy • credit crisis • mortgage backed securities • subprime crisis • financial crisis

Lenders See New Wave of Prime Defaults

Bigger group of 'good' borrowers now face foreclosure

Aug 4, 08 8:11 AM CDT
(Newser) - The flood of foreclosures on subprime mortgages seems to be ebbing, the New York Times reports, but a second, larger group of borrowers—those with better credit—are now expected to default in coming months. A continued weak economy, unemployment, and other economic factors helped to quadruple the percentage... More »

MORE ABOUT:
foreclosure • subprime crisis • mortgage defaults • JPMorgan Chase

analysis

Merrill Panic May Mark Bottom of Stock Market

Once regaled for cavalier confidence, CEO's chief cuts losses

Aug 1, 08 10:30 AM CDT
(Newser) - Merrill Lynch CEO John Thain has seen better days, Floyd Norris writes in the New York Times. He's gone from “cockiness to capitulation. Distinction to desperation.” Thain recently unloaded a bundle of his company’s securities for 22 cents on the dollar and raised $8.5 billion from... More »

MORE ABOUT:
Merrill Lynch • CDO • mortgage debt • mortgage backed securities • John Thain • financial sector • subprime crisis • stock offering • banking industry

Home Prices Fall Again;
Rate of Decline Sets Record

Consumer confidence numbers offer ray of hope

Jul 29, 08 11:01 AM CDT
(Newser) - Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with... More »

MORE ABOUT:
housing market • consumer confidence • recession • credit crisis • home prices • Case Shiller price index • housing crisis • subprime crisis • consumer confidence index • home values

81 - 100 of 284 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 15 Next >>


from our news partners