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Subprime Loans

Florida Caught In Eye Of Burst Real Estate Bubble

New York Times | Peter S. Goodman | Posted 05.25.2011 | Business

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...

Goldman Sachs Still Golden

AP | Joe Bel Bruno | Posted 05.25.2011 | Business

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 ...

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

AP | Marcy Gordon | Posted 05.25.2011 | Business

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...

Greenspan Explains It All: How The Credit Crisis Happened

Wall Street Journal | Alan Greenspan | Posted 05.25.2011 | Business

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

Fed To Crack Down On Abusive Lending Practices

AP | Posted 05.25.2011 | Business

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

Over Half Of Americans Believe We Are In A Recession

CNN | Posted 05.25.2011 | Business

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/...

How Goldman Won Big On Mortgage Meltdown

Wall Street Journal | Kate Kelly | Posted 05.25.2011 | Business

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,...

Bush Officially Announces Plan To Freeze Interest Rates

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

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

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

New York Times | Edmund L. Andrews | Posted 05.25.2011 | Business

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 ...

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

Wall Street Journal | GREG IP , MARK WHITEHOUSE and AARON LUCCHETTI | Posted 05.25.2011 | Business

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...

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

Reuters | Posted 05.25.2011 | Business

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

Home Sales Rise, But So Do Recession Fears

Reuters Via CNBC | Posted 05.25.2011 | Business

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...

White House Mortgage Meltdown: Bush Gives Out Wrong Hotline Number

Posted 05.25.2011 | Politics

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

Subprime Crisis Forces UBS To Write Down $10 Billion

AP | ERNST E. ABEGG | Posted 05.25.2011 | Business

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...

Wall Street Firms Under Fire For Aiding Subprime Loan Crisis

New York Times | JENNY ANDERSON, VIKAS BAJAJ | Posted 05.25.2011 | Business

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

Stocks Jump On Fed Cut Hopes

AP | Madlen Read | Posted 05.25.2011 | Business

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...

Sub-Prime Woes Start To Hit Credit-Worthy

Wall Street Journal | RICK BROOKS, RUTH SIMON | Posted 05.25.2011 | Business

One common assumption about the subprime mortgage crisis is that it revolves around borrowers with sketchy credit who couldn't have bought a home with...