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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: financial crisis

financial crisis stories: 1641 news summaries

1621 - 1640 of 1641 Stories | << Prev 1 ... 78 79 80 81 82 83 Next >>

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Bank of America Buys Countrywide for $4B

Stock package saves nation's
largest mortgage lender

Jan 11, 08 6:52 AM CST
(Newser) - Bank of America, five months after throwing a $2 billion lifeline to rapidly sinking Countrywide Financial, will pay nearly $4 billion in stock to save the damaged mortgage lender. The deal makes BofA the nation's largest mortgage lender and loan servicer and should help build a bulwark against the still-spreading... More »

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Bank of America • acquisition • Countrywide Financial • subprime crisis • financial crisis

UK To Introduce Sweeping
Bank Reforms

Darling announces regulatory shift after Northern Rock fiasco

Jan 4, 08 10:51 AM CST
(Newser) - Britain's chancellor will offer sweeping new powers to that country's equivalent of the SEC to intervene in the event of a banking crisis. In an interview with the Financial Times, Alistair Darling presented a set of triggers that would allow the Financial Services Authority to step in and protect assets... More »

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United Kingdom • subprime mortgages • bank • Northern Rock • Alistair Darling • Financial Services Authority • financial crisis

Freddie Mac Chief: Housing Market Will Get Worse in 2008

Tells investors to expect losses in fourth quarter

Dec 12, 07 11:14 AM CST
(Newser) - Predicting even tougher times for the US housing market, Freddie Mac chief Richard Syron yesterday told investors in New York that the government-sponsored mortgage lender would report another net loss in the fourth quarter and credit losses to $12 billion on its mortgage portfolio, reports the Financial Times. Freddie... More »

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subprime mortgages • foreclosure • mortgage • Freddie Mac • default • mortgage lender • financial crisis

(Newser) - A quiet infusion of $1.5 billion from two European banks will help bond insurer CIFG maintain its AAA credit rating, the Wall Street Journal reports. The move keeps at bay a crisis in the bond market that could cost investors $200 billion and might provide a bailout blueprint for... More »

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investing • MLB • subprime mortgages • bond market • mortgage backed securities • baseball • financial crisis

Freddie Mac Loses $2B, Seeks Cash

No. 2 mortgage
lender's capital is close
to regulatory minimum

Nov 20, 07 8:51 AM CST
(Newser) - Freddie Mac, the second-largest US mortgage lender, lost $2.02 billion this quarter, its worst quarter ever, the company said this morning. With core capital almost below its regulatory minimum, the company is looking for fast cash, hiring Goldman Sachs and Lehman Brothers to help bail it out, and “... More »

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subprime mortgages • Freddie Mac • Fannie Mae • credit crisis • subprime crisis • financial crisis

Northern Rock Plummets 40% as Britain
Seeks Buyer

Bank crisis spells political trouble

Nov 20, 07 8:36 AM CST
(Newser) - In Britain the meltdown of Northern Rock has expanded into a full-out political crisis. The bank's stock plummeted 40% this morning to trade at less than a dollar a share, the Financial Times reports. The collapse of Northern Rock spells serious trouble for Alistair Darling, the chancellor, who is desperate... More »

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Gordon Brown • subprime mortgages • Britain • Northern Rock • Alistair Darling • financial crisis

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nobel winner, investment firm
warn of growing risk

Nov 16, 07 10:44 AM CST
(Newser) - The subprime mortgage crisis that has cost financial companies $400 billion and triggered what one banker is calling the worst housing market since the Great Depression will force a $2 trillion credit squeeze that could set off a “substantial recession” in the US, reports Bloomberg. Goldman Sachs said the... More »

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Goldman Sachs • subprime mortgages • recession • US economy • credit • subprime crisis • financial crisis

Dow Dips Below 13K

Markets seesaw, close down

Nov 12, 07 3:38 PM CST
(Newser) - The Dow closed below 13,000 today after seesawing on bad news from the financial sector and falling oil prices. The Dow finished at 12,987.55, down 55.19, after E*Trade said further mortgage-related write-downs might come—and its shares dropped 56%. The Nasdaq slid 43.81 to close... More »

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Citigroup • Bank of America • Dow Jones • OPEC • mortgage • Nasdaq • E Trade • Blackstone • S&P 500 • JPMorgan Chase • financial crisis

Citigroup Drags Stocks Down

Banking giant reports $11B in additional losses

Nov 5, 07 3:43 PM CST
(Newser) - Stocks closed down today after Citigroup announced $11 billion more in mortgage-related writedowns, reports Bloomberg. Early heavy losses reversed later in the session as investors calmed down, reports CNNMoney, but none of the major indexes moved into positive territory. The Dow was down 51.7 to 13,543.4, the... More »

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stock market • Citigroup • Morgan Stanley • financial crisis

Bernanke: How's He Doing?

Journal looks back at Fed chairman described as more collaborative, creative than Greenspan

Oct 31, 07 11:05 AM CDT
(Newser) - As the Fed rolls out another anxiously awaited decision on rate cuts, the Wall Street Journal does a play-by-play analysis of Ben Bernanke's handling of the three-month old credit crisis with an eye to what we've learned about the new Fed boss. For starters, he's more open and collaborative than... More »

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Ben Bernanke • Federal Reserve • Alan Greenspan • credit crisis • financial crisis

Bank Superfund Wins Backers, Detractors

Euro banks, Wall
Street biggies still on fence on bailout pool

Oct 17, 07 6:45 AM CDT
(Newser) - A planned superfund of $80 to $100 billion to alleviate the subprime lending crisis is gaining ground, though some potential investors remain skeptical. Yesterday, Wachovia Corp. came on board; Fidelity and Federated Investors have already agreed to chip in. The trio of banks leading the fund—Citigroup, JP Morgan Chase,... More »

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subprime crisis • financial crisis

$100B Bank Fund Shows Paulson's Touch

Treasury sec works behind scenes to shore up mortgage market

Oct 16, 07 7:29 AM CDT
(Newser) - This weekend's bank deal to establish a $100-billion "superconduit" fund to buy back  shaky mortgage securities showed the hand—and the strategy—of Hank Paulson, the New York Times reports. Though the treasury secretary has said for months he's confident  investors can handle the mortgage credit crisis themselves, he... More »

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Henry Paulson • credit crisis • subprime crisis • financial crisis

Brits Panic Over Credit Crisis

UK is extra vulnerable to the credit crunch

Sep 16, 07 11:17 AM CDT
(Newser) - The US credit crisis is sending Britain's buy-now-pay-later economy into apoplexy, with Brits lining up by the thousands outside branches of troubled bank Northern Rock to withdraw their savings in spite of an unprecedented government bailout. Analysts say that the nation's borrowing habits leave the economy vulnerable. "I think... More »

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subprime mortgages • credit crisis • Britain • Northern Rock • Alistair Darling • financial crisis

Freddie Mac Posts 45%
Net Drop

Mortgage giant sees $320 million
loss on new mortgages in Q2

Aug 30, 07 9:51 AM CDT
(Newser) - Freddie Mac posted a 45% drop in net income for the second quarter, and said the outlook wasn't rosy for the third. The home-mortgage financier was hit with a $320 million loss on new mortgages. Freddie Mac doesn't buy subprimes directly, but is still affected by the general mortgage turmoil. More »

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subprime mortgages • mortgage • finance • Freddie Mac • Richard Syron • financial crisis

Wall Street Bonuses To Sink

Market crisis hits paychecks

Aug 22, 07 12:31 AM CDT
(Newser) - The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first... More »

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private equity • Wall Street • Goldman Sachs • Bear Stearns • hedge fund • credit crisis • bonuses • Whitney Group • Options Group • Glocap Search • financial crisis

Stocks Seesaw as Credit Crisis Deepens

Dow down over 300 points before rallying on rate-cut rumors

Aug 16, 07 3:35 PM CDT
(Newser) - The Dow closed down 15.69 at 12845.78 today, after plummeting 343 points in early morning trading on fears the credit debacle was spilling into the larger market. Investors continued to fret about the rising yen and nervous foreign markets, but rumors that the Fed would cut interest rates... More »

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stock market • NASDAQ • Dow Jones • stocks • Bear Stearns • S&P 500 • financial crisis

Paulson: Downturn
Won't Provoke Recession

Economy tough enough to take market turmoil

Aug 16, 07 10:51 AM CDT
(Newser) - The current turmoil in the financial markets will take its toll on the economy, but  won't cause a recession, Treasury Secretary Henry Paulson tells the Wall Street Journal in his first interview since the downturn began. Paulson says the crisis comes in the context of a very strong global economy—... More »

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Henry Paulson • finance • recession • global economy • US economy • markets • financial crisis

Goldman Hedge Fund Gets
$3B Infusion

Investors fund bailout after assets evaporate; markets breathe

Aug 13, 07 11:38 AM CDT
(Newser) - A struggling Goldman Sachs hedge fund will get a $3 billion cash infusion, with a third of the bail-out coming from wealthy investors and the rest from the bank itself. Global Equity Opportunities Fund has seen assets drop by 28%, to $3.6 billion, over the last two weeks, as... More »

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Eli Broad • Goldman Sachs • subprime mortgages • hedge fund • Hank Greenberg • financial crisis

Bad US Loans Sink London Hedge Fund

Subprime mortgage crisis ripples through
world market

Jun 29, 07 4:26 AM CDT
(Newser) -  A London hedge fund is the latest casualty of the US subprime mortgage crisis that has already hit American investment companies, the Financial Times reports. After losing 53% of its value, Caliber Global Investment will sell its assets and try to repay $900 million to investors over the next... More »

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investing • London • subprime mortgages • business • mortgage • Caliber Global investment • hedge fund • financial crisis

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors
nix bailout plan

Jun 20, 07 7:02 AM CDT
(Newser) - Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night, and the consequences could ripple... More »

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Bank of America • Goldman Sachs • subprime mortgages • business • Bear Stearns • Merrill Lynch • hedge fund • financial crisis

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