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August 21, 2008 7:41:04 PM CDT

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Stories related to: bailout

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10 Stories

  • August 2008

    • Pressure Mounts for a Freddie, Fannie Bailout

      Wall Street Journal  |  Aug 20, 08 9:40 AM CDT

      Pressure Mounts for a Freddie, Fannie Bailout

      (Newser) - A federal bailout for Fannie Mae and Freddie Mac looks more likely every day, both the Wall Street Journal and the New York Times report, as the mortgage giants find it increasingly difficult to borrow and their stock continues to take a pounding. Freddie was able to auction $3 billion in debt yesterday, but at unusually hefty interest rates, which in turn could be passed on to borrowers. More »

      Tags

      housing crisis  • Henry Paulson  • Fannie Mae  • Freddie Mac  • bailout  • mortgage rates

  • July 2008

    • House Passes Huge Housing Rescue Bill

      The Hill  |  Jul 23, 08 5:34 PM CDT

      House Passes Huge Housing Rescue Bill

      (Newser) - The House today approved a massive bill to provide relief for struggling homeowners, communities hit hard by the housing crisis, and mortgage giants Fannie Mae and Freddie Mac, the Hill reports. The bill passed 272-152 hours after President Bush switched course and said he would not veto it. The measure is expected to clear the Senate by the end of the week. More »

      Tags

      housing crisis  • House of Representatives  • Fannie Mae  • Freddie Mac  • bailout  • mortgages

    • Freddie Eyes Selling $10B in Shares to Stave Off Bailout

      Wall Street Journal  |  Jul 18, 08 6:53 AM CDT

      Freddie Eyes Selling $10B in Shares to Stave Off Bailout

      (Newser) - Freddie Mac is considering issuing $10 billion worth of new common and preferred shares, the Wall Street Journal reports, a move that might stave off a full-blown government rescue—and the increased scrutiny that would come with it. Freddie has been emboldened by two days of big gains, with shares levitating  over 29% on Wednesday and another 22% yesterday. More »

      Tags

      Freddie Mac  • shares  • bailout  • stock offering

    • Paulson's Imprimateur on Freddie/Fannie Rescue

      Wall Street Journal  |  Jul 15, 08 9:16 AM CDT

      Paulson's Imprimateur on Freddie/Fannie Rescue

      (Newser) - Henry Paulson had a very busy weekend. The treasury secretary had been formulating contingency plans for bailing out beleaguered Fannie Mae and Freddie Mac for weeks, but Friday’s crisis came before those plans were in place, the Wall Street Journal reports in a reconstruction of events leading to the rescue, culminating in the frenzied weekend scramble to negotiate the particulars with the Fed and Congress. More »

      Tags

      Federal Reserve  • Ben Bernanke  • economy  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • bailout

    • Fannie, Freddie Edge Back From the Brink

      Wall Street Journal  |  Jul 12, 08 7:11 AM CDT

      Fannie, Freddie Edge Back From the Brink

      (Newser) - Fears of a collapse of Fannie Mae or Freddie Mac finally eased yesterday after a stomach-churning rollercoaster ride that saw a 50% nosedive for the mortgage giants in early trading, writes the Wall Street Journal . A week of panic, prompted in part by reports that the government was preparing rescue scenarios, seem to have abated, as Fannie and Freddie were able to continue their regular borrowing. But a bigger test looms Monday when Freddie is due to sell $3 billion of short-term debt. More »

      Tags

      Wall Street  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • credit market  • markets  • bailout

    • Italians Impatient With Alitalia Rescue Efforts

      Bloomberg  |  Jul 4, 08 5:33 PM CDT

      Italians Impatient With Alitalia Rescue Efforts

      (Newser) - Fed up with government efforts to resuscitate Alitalia, many Italians think Rome needs to face reality and let the airline die, Bloomberg reports. PM Silvio Berluconi characterizes Alitalia’s survival as “a matter of national security,” but it hasn't turned a profit in nearly a decade. The latest plan for Alitalia is a restructuring scheme by Intesa Sanpaolo, Italy’s second-largest bank. More »

      Tags

      Italy  • airline  • bankruptcy  • Silvio Berlusconi  • government  • bailout  • Alitalia

  • June 2008

    • Countrywide 'Bailout' Is Dem Chicanery

      Wall Street Journal  |  Jun 18, 08 1:33 PM CDT

      Countrywide 'Bailout' Is Dem Chicanery

      (Newser) - Congressional Dems are selling their $300 billion bill granting new taxpayer loan guarantees as a boon to homeowners, but Dick Armey sees more cynical motives in the “bailout” legislation. The former House majority leader writes in the Journal , pegging the recent revelations of sweetheart Countrywide loans for top (Dem) “banking players” to the active legislation, charging that “it’s all too clear who is being rescued.” More »

  • May 2008

    • Site's Grass Roots Planted in Right-Wing 'AstroTurf'

      Wall Street Journal  |  May 16, 08 3:57 PM CDT

      Site's Grass Roots Planted in Right-Wing 'AstroTurf'

      (Newser) - AngryRenter.com might look “underdoggy and grass-rootsy, with a heavy dose of aw-shucks innocence,” the Wall Street Journal reports, but the anti-mortgage bailout website is actually the work of publisher Steve Forbes, former House majority leader Dick Armey and other Republican bigwigs. It’s a paragon of “AstroTurfing”—big-sponsor advocacy posing as spontaneous movement. More »

      Tags

      mortgage crisis  • bailout  • AstroTurf  • Dick Armey

    • Mortgage Deal Close in Senate

      Wall Street Journal  |  May 15, 08 1:11 PM CDT

      Mortgage Deal Close in Senate

      (Newser) - A Senate committee is close to agreeing on expansion of a government insurance program for refinanced mortgages, the Wall Street Journal reports. Though ridden with partisan conflict as recently as a week ago, staff for Democrat Chris Dodd and Republican Richard Shelby said today the sides were nearing a compromise, and a vote to move the measure along could come in the next few hours. More »

  • February 2008

    • Move to Nationalize UK Bank Sparks Fury

      Times (UK)  |  Feb 18, 08 3:48 AM CST

      Move to Nationalize UK Bank Sparks Fury

      (Newser) - Furious shareholders concerned about the risk to their investments are blasting the British government's decision to nationalize ailing Northern Rock bank. The British Treasury is expected to face lengthy legal action from investors once the government formally announces details of the takeover today. Trading in bank shares is being suspended, and the government takeover could be completed within the week. Taxpayers have already forked over billions of dollars to prop up the troubled financial institution. More »

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