Subprime Loans

Everything You Wanted To Know About The Credit Crunch (But Were Afraid To Ask)

New York TImes | David Leonhardt | Posted 03.28.2008 | Business

Read More: U.S. Economy, Credit Crisis, Stock Market, Federal Reserve, Recession, Subprime Loans, Bear Stearns, Credit Crunch, Depress, Financial Crisis, Business News

Raise your hand if you don't quite understand this whole financial crisis. It has been going on for seven months now, and many people probably feel a...

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Bernanke Calls for More Mortgage Relief

AP | JEANNINE AVERSA | Posted 03.28.2008 | Business

Read More: U.S. Economy, Subprime Crisis, Subprime Mortgages, Foreclosure, Recession Fears, Recession, Subprime Loans, Federal Reserve, Ben Bernanke, Homeowners, Credit Crunch, Housing Market, Business News

WASHINGTON — Battling a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke called Tuesday for additional relief and urge...

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HSBC's American Subprime Loan Write-Offs Hit $51 Million A Day

Times Online | Patrick Hosking | Posted 03.28.2008 | Business

Read More: Subprime Crisis, Hsbc, Subprime Loans, Subprime Mortgages, Subprime, Business News

HSBC has stepped up the rate at which it writes off loans to poor Americans to an unprecedented $51 million (£25.7 million) a day as the British bank...

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Wall Street Gears For New Pain

Wall Street Journal | LINGLING WEI, RANDALL SMITH | Posted 03.28.2008 | Business

Read More: Citigroup, U.S. Economy, Banks, Subprime Loans, Real Estate, Credit Crunch, Subprime Shakedown, Goldman Sachs, Merrill Lynch, J.P. Morgan Chase, Morgan Stanley, Lehman Brothers, Bear Stearsn, Subprime Loan Crisis, J.P. Morgan, Commercial Real Estate, Business News

After suffering a beating from their exposure to home loans, banks and securities firms are about to take their lumps from office towers, hotels and o...

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Credit Crunch Worries Economists

AP | MARTIN CRUTSINGER | Posted 03.28.2008 | Business

Read More: Credit Crunch, Subprime Loan Crisis, Subprime Loans, U.S. Economy, Business News

WASHINGTON — The cascading fallout from the subprime loan crisis, barely a cloud on the horizon a year ago, is now viewed by experts as the econ...

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Subprimes Push UBS to First Annual Loss

AP | ERNST E. ABEGG | Posted 03.28.2008 | Business

Read More: Ubs, UBS Loss, Subprime Loans, Subprime Mortagages, Subprime Mortgages Crisis, Credit Crunch, UBS AG, Marcel Rohner, Business News

ZURICH, Switzerland — UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other b...

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Countrywide to Aid More Borrowers

AP | ALEX VEIGA | Posted 03.28.2008 | Business

Read More: Countrywide, Countrywide Financial, Subprime Loans, Subprime Mortgages, Subprime Mortgage Crisis, Business News

LOS ANGELES — Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrower...

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HSBC Expected To Sell 400 Banks

New York Times | Posted 03.28.2008 | Business

Read More: Subprime Loans, HSBC Banks, Hsbc, Business News

HSBC Holdings, the biggest bank in Europe, plans to put about half of its 800 French consumer branches up for sale as it focuses on expanding in Asia ...

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Recession Fears Dominate Davos

Reuters | Adam Plowright | Posted 03.28.2008 | Business

Read More: U.S. Economy, Oil Prices, Davos, Slowing Growth, Global Economy, Stock Markets, Subprime Loans, Subprime Loan Crisis, Davos Conference, World Economic Forum, Business News

The annual Davos gathering of the world's political and business elite opened Wednesday, dominated by the deep cut in US interest rates aimed at preve...

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Florida Caught In Eye Of Burst Real Estate Bubble

New York Times | Peter S. Goodman | Posted 03.28.2008 | Business

Read More: Real Estate Boom, Bubble Bursting, Mortgage Crunch, Real Estate Frenzy, Subprime Mortgage Crisis, Subprime Loans, Real Estate Bubble, Subprime Loan Crisis, Real Estate, Subprime Mortgages, Credit Crunch, Business News

Two years ago, when Eric Feichthaler was elected mayor of this palm-fringed, middle-class city, he figured on spending a lot of time at ribbon-cutting...

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Goldman Sachs Still Golden

AP | Joe Bel Bruno | Posted 03.28.2008 | Business

Read More: Lloyd Blankfein, Investment Banks, Subprime Loans, Goldman Sachs, Investment Bankers, Subprime Mortgages, Business News

Goldman Sachs Group Inc. on Tuesday gave a cautious outlook for Wall Street in 2008 because of the ongoing credit crisis, even as the world's largest ...

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Fed To Crack Down On Abusive Lending Practices

AP | Posted 03.28.2008 | Business

Read More: Federal Reserve, Lending Practices, Subprime Mortgages, Subprime Loans, Subprime Lending, Business News

People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest ...

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How Goldman Won Big On Mortgage Meltdown

Wall Street Journal | Kate Kelly | Posted 03.28.2008 | Business

Read More: Goldman, Goldman Sachs, Subprime Loan Crisis, Subprime Mortgages, Subprime Loans, Subprime Mortgage Crisis, Business News

The subprime-mortgage crisis has been a financial catastrophe for much of Wall Street. At Goldman Sachs Group Inc., thanks to a tiny group of traders,...

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Greenspan Explains It All: How The Credit Crisis Happened

Wall Street Journal | Alan Greenspan | Posted 03.28.2008 | Business

Read More: US Economy, Credit Crisis, Subprime Loans, Subprime Loan Crisis, Alan Greenspan, Subprime Mortgages, Subprime Mortgage Crisis, Business News

On Aug. 9, 2007, and the days immediately following, financial markets in much of the world seized up. Virtually overnight the seemingly insatiable de...

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Over Half Of Americans Believe We Are In A Recession

CNN | Posted 03.28.2008 | Business

Read More: Recession Fears, Subprime Loan Crisis, Subprime Mortgages, Subprime Loans, Subprime Lending, Subprime Mortgage Crisis, Recession, Business News

More than half the American public -- 57 percent -- now believe the nation is in a recession, compared to 42 percent who do not, according to new CNN/...

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Freddie Mac Predicts $5.5 $7.5 Billion More Losses For The Year

AP | Marcy Gordon | Posted 03.28.2008 | Business

Read More: Freddie Mac News, Subprime Mortgage Market, Freddie Mac, Subprime Mortgage Crisis, Worst Housing Slump, Freddie Mac Loss, Subprime Loans, Subprime Mortgages, Housing Slump, Business News

The chief executive of Freddie Mac estimated Tuesday the mortgage finance company will lose an additional $5.5 billion to $7.5 billion over the next f...

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Home Sales Rise, But So Do Recession Fears

Reuters Via CNBC | Posted 03.28.2008 | Business

Read More: National Association of Realtors, Subprime Loan Crisis, Subprime Lending, Recession Fears, Recession, Subprime Loans, Subprime Mortgage Crisis, Subprime Mortgages, Business News

Pending sales of existing U.S. homes rose modestly in October, bucking Wall Street forecasts, but the decline from a year ago was the third largest on...

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Stocks Jump On Fed Cut Hopes

AP | Madlen Read | Posted 03.28.2008 | Business

Read More: Fed Cut, National Association of Realtors, Subprime Loans, Federal Reserve, Subprime Mortgages, Wall Street, Business News

Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concer...

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U.S. Mortgage Crisis Rivals '80s S&L Meltdown

Wall Street Journal | GREG IP , MARK WHITEHOUSE and AARON LUCCHETTI | Posted 03.28.2008 | Business

Read More: S&L Meltdown, Subprime Mortgage Meltdown, Subprime Mortgage Crisis, Subprime Loans, Subprime Loan Crisis, Subprime Mortgages, Subprime Loan Meltdown, Credit Crunch, S&L Crisis, Business News

The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global econom...

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Subprime Crisis Forces UBS To Write Down $10 Billion

AP | ERNST E. ABEGG | Posted 03.28.2008 | Business

Read More: Singapore, Middle East, Subprime Mortgage Crisis, Subprime Loans, Subprime Loan Crisis, Subprime Mortgages, UBS AG, Ubs, Business News

Swiss banking giant UBS AG said Monday it will write off a further $10 billion on losses in the U.S. subprime lending market and will raise capital by...

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Critics: Bush's Mortgage Bailout Plan Helps Too Few, Panders To Banks

New York Times | Edmund L. Andrews | Posted 03.28.2008 | Business

Read More: Subprime Mortgage Market, Government Bailout, Subprime Loans, Subprime Mortgages, Bailout Criticism, Subprime Mortgage Crisis, George W. Bush, Subprime Bailout, Bush Bailout, President Bush, Business News

At least one thing is clear about President Bush's plan to help people trapped by the mortgage meltdown: it is an industry-led plan, not a government ...

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White House Mortgage Meltdown: Bush Gives Out Wrong Hotline Number

Posted 03.28.2008 | Politics

Read More: Subprime Lending, Mortgage Crisis, George W. Bush, Subprime Loan Crisis, Subprime Loans, Subprime Mortgage Crisis, George Bush, Bush Economic Plan, Breaking Business News, Bush Interest Rates, Subprime Mortgages, Politics News

Harried homeowners seeking mortgage relief from a new Bush administration hotline Thursday had to contend with a bit of temporary misdirection from th...

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Bush Officially Announces Plan To Freeze Interest Rates

AP | MARTIN CRUTSINGER | Posted 03.28.2008 | Business

Read More: George Bush, Bush Economic Plan, Subprime Loan Crisis, Subprime Mortgages, Subprime Loans, Subprime Mortgage Crisis, Bush Interest Rates, Business News

President Bush announced on Thursday a plan to freeze interest rates for five years for hundreds of thousands of strapped homeowners whose mortgages a...

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Moodys': Housing Prices To Drop 30 Percent Before Slump Ends

Reuters | Posted 03.28.2008 | Business

Read More: Subprime Loans, Subprime Loan Crisis, Housing Sector, Housing Prices, Subprime Mortgages, Economy.com, Subprime Mortgage Crisis, Business News

Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisi...

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Wall Street Firms Under Fire For Aiding Subprime Loan Crisis

New York Times | JENNY ANDERSON, VIKAS BAJAJ | Posted 03.28.2008 | Business

Read More: Goldman Sachs, Wall Street Firms, Subprime Loans, Subprime Loan Crisis, Subprime Mortgages, Subprime Mortgages Crisis, Business News

As the subprime loan crisis deepens, Wall Street firms are increasingly coming under scrutiny for their role in selling risky mortgage-related securit...

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