Personal Finance News 07/2008 (Page 2)

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Reuters - Treasury Secretary Henry Paulson said on Friday that his chief aim at present is to back government-sponsored mortgage finance companies Fannie Mae and Freddie Mac in their "current form," giving no sign a government bailout of them was imminent. (Jul 11, 2008)

Reuters - Two in three Americans say it has become more difficult to obtain mortgages, reflecting how lenders have made it tougher to obtain credit as housing prices tumble and capital markets tighten. (Jul 11, 2008)

Reuters - The Congress must move quickly to put a stronger regulator in place for government-sponsored entities Fannie Mae and Freddie Mac, a senior aide to Republican Sen. Richard Shelby said on Friday. (Jul 11, 2008)

Reuters - Shares of Freddie Mac briefly turned positive on Friday and those of Fannie Mae sharply pared their losses after Sen. Christopher Dodd, chairman of the Senate Banking Committee, said the two government-sponsored mortgage giants were fundamentally sound. (Jul 11, 2008)

Reuters - Republican presidential contender John McCain said on Friday that government assistance would likely be needed for Freddie Mac and Fannie Mae because a failure of the two mortgage giants would have a ripple effect through the entire U.S. economy. (Jul 11, 2008)

AFP - Shares of US mortgage finance giants Fannie Mae and Freddie Mac recouped most losses after an early freefall of some 50 percent, as Freddie Mac turned positive in late trade. (Jul 11, 2008)

AP - Some questions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: (Jul 11, 2008)

AP - Treasury bond prices slid sharply Friday on speculation that a massive government bailout of Fannie Mae and Freddie Mac could hurt the nation's triple-A credit rating. (Jul 11, 2008)

AP - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market. (Jul 11, 2008)

Reuters - Some of the best known U.S. fund firms probably suffered significant losses in this week's meltdown in the stocks of mortgage finance agencies Fannie Mae and Freddie Mac . (Jul 12, 2008)

AP - The last thing the Bush White House and the rest of the country needed in these economically trying times was another financial crisis. But they got one. (Jul 12, 2008)

Reuters - U.S. stocks tumbled on Friday as fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac, combined with oil at a record above $147 to cloud the economic outlook. (Jul 12, 2008)

Reuters - Fear the two largest U.S. mortgage finance companies are in such poor health that they need a government bailout pushed financial markets lower on Friday, although stocks pared losses as officials began to talk of safety-net moves for the ailing sector. (Jul 12, 2008)

AP - Wall Street's angst over the ongoing fallout from the credit crisis made for a turbulent end to a volatile week Friday — stocks tumbled, soared and then turned south again as investors tried to assess the dangers faced by the country's biggest mortgage financiers, Fannie Mae and Freddie Mac. (Jul 12, 2008)

Reuters - U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. (Jul 12, 2008)

AP - IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. (Jul 12, 2008)

AP - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market. (Jul 12, 2008)

AFP - As panicked investors pushed US mortgage finance giants Fannie Mae and Freddie Mac to the brink, debate swirled on whether the meltdown was a crisis of confidence or the onset of wider economic woes. (Jul 12, 2008)

Reuters - U.S. Treasury Secretary Henry Paulson is insisting that if Fannie Mae and Freddie Mac need rescuing, the plan should not benefit shareholders of the giant mortgage finance firms, the Wall Street Journal said on Saturday. (Jul 12, 2008)

AFP - Federally-seized IndyMac Bank was due to reopen Monday after suffering one of the biggest bank closures in US history, as the troubled US mortgage industry struggles to stem further meltdown. (Jul 12, 2008)

Reuters - U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. (Jul 13, 2008)

AFP - Federally-seized IndyMac Bank was due to reopen Monday after suffering one of the biggest bank closures in US history, as the troubled US mortgage industry struggles to stem further meltdown. (Jul 13, 2008)

Reuters - U.S. Treasury Department officials are trying to make sure that Freddie Mac, one of two troubled U.S. giant mortgage firms, will be able sell $3 billion in securities this week at a previously scheduled sale, the Washington Post reported on Sunday. (Jul 13, 2008)

Reuters - Democratic White House hopeful Barack Obama said on Saturday he was confident "prudent steps" by the U.S. government would stabilize mortgage giants Fannie Mae and Freddie Mac but that it was necessary to see how the situation developed before deciding on what steps to take. (Jul 13, 2008)

Reuters - The U.S. Treasury Department will issue a statement on Sunday expressing support for beleaguered mortgage finance lenders Freddie Mac and Fannie Mae , a source familiar with the matter said. (Jul 13, 2008)

AP - Confronted by record foreclosures, the Federal Reserve is ready to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis. (Jul 13, 2008)

AFP - Troubled mortgage giant Freddie Mac is aiming to sell off three billion dollars in securities on Monday following last week's meltdown, in a potentially decisive move to heal shattered investor confidence. (Jul 13, 2008)

Reuters - The U.S. Treasury on Sunday may say it is prepared to take an equity stake in troubled mortgage financiers Fannie Mae and Freddie Mac if requested, sources close to talks about the issue said. (Jul 13, 2008)

AP - The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac. (Jul 14, 2008)

Reuters - The U.S. Treasury Department and Federal Reserve on Sunday announced sweeping measures to lend money and buy stocks if necessary in embattled mortgage lenders Fannie Mae and Freddie Mac . (Jul 14, 2008)

AP - The U.S. government is signaling it won't throw a lifeline to struggling financial companies — except for mortgage linchpins Fannie Mae and Freddie Mac — marking a shift to a new and potentially more volatile phase of the credit crisis. (Jul 14, 2008)

Reuters - U.S. securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae , Freddie Mac and Lehman Brothers . (Jul 14, 2008)

Reuters - U.S. government support for mortgage giants Fannie Mae and Freddie Mac should protect taxpayers and not bail out shareholders or management, Democratic presidential hopeful Barack Obama said on Sunday. (Jul 14, 2008)

AP - The U.S. government is signaling it won't throw a lifeline to struggling financial companies — except for mortgage linchpins Fannie Mae and Freddie Mac — marking a shift to a new and potentially more volatile phase of the credit crisis. (Jul 14, 2008)

AFP - The dollar rose against the euro and yen on Monday as markets cheered measures by Washington to bolster US mortgage giants Fannie Mae and Freddie Mac, dealers said. (Jul 14, 2008)

AFP - Troubled US mortgage giant Freddie Mac planned Monday to sell off three billion dollars in securities in a test of investor reaction to a bold rescue plan by the US Treasury. (Jul 14, 2008)

AFP - European stocks were firmer on Monday but Asian markets fell as investors digested measures to bolster US mortgage giants Fannie Mae and Freddie Mac amid a raft of major company takeover news. (Jul 14, 2008)

Reuters - A government plan to rescue mortgage agencies Fannie Mae and Freddie Mac was welcomed by one of the world's biggest holders of dollar assets on Monday but fears remained about the state of the global financial system. (Jul 14, 2008)

AP - World markets were mixed Monday as investors took in news of U.S. government moves to prop up ailing mortgage financiers Fannie Mae and Freddie Mac. (Jul 14, 2008)

AP - Oil prices crept back up near $145 a barrel Monday on supply concerns after falling more than $2 earlier in the session as the dollar rose on expectations that the U.S. could avert a short-term worsening of the credit crisis. (Jul 14, 2008)

AP - Scrambling to bolster eroding investor confidence, the Federal Reserve and the Treasury Department announced steps to brace slumping mortgage giants Fannie Mae and Freddie Mac. (Jul 14, 2008)

AP - The Federal Reserve is moving closer to giving home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs. (Jul 14, 2008)

AFP - Fannie Mae and Freddie Mac surged Monday after a near-meltdown last week, boosted by a weekend plan offering a lifeline of fresh credit from the US Federal Reserve and Treasury. (Jul 14, 2008)

Reuters - Federal Reserve Chairman Ben Bernanke on Monday said new final mortgage rules are aimed at protecting consumers from deceptive lending practices that led to many unaffordable subprime loans. (Jul 14, 2008)

AP - Stocks turned mixed in early trading Monday as investors lost some of their initial enthusiasm over the government's plans to shore up confidence in mortgage financiers Fannie Mae and Freddie Mac. (Jul 14, 2008)

Reuters - The Dow and the S&P 500 sharply cut gains and the Nasdaq turned lower on Monday as investors worried that Washington's rescue plan to shore up Fannie Mae and Freddie Mac won't be enough to allay concerns about the fallout from the housing slump. (Jul 14, 2008)

Reuters - A major U.S. government plan to shore up mortgage finance firms Fannie Mae and Freddie Mac will not revive the ailing U.S. housing market yet, wrote Goldman Sachs economists in a research note dated Sunday. (Jul 14, 2008)

Reuters - The Democratic leader of the House of Representatives on Monday said he does not expect housing finance giants Fannie Mae and Freddie Mac will need to draw on additional liquidity or capital from the Treasury Department or the Federal Reserve. (Jul 14, 2008)

Reuters - Shares of mortgage finance firms Fannie Mae and Freddie Mac could not hold the gains they made early on Monday as questions remained over what the U.S. government's sweeping rescue plan means for shareholders. (Jul 14, 2008)

AP - Spanish banking giant Banco Santander said Monday it has agreed to buy the British mortgage lender Alliance & Leicester PLC in a deal valued at $2.5 billion. (Jul 14, 2008)

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