Mortgage and Financial News From 2008-8-2 Page 10
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S&P Analysts Questioned Its Own CDO Ratings, Journal Reports (Bloomberg.com)
Aug. 2 (Bloomberg) -- Standard & Poor's analysts questioned their own ratings of mortgage-related debt products and said they were overworked as the number of deals increased, the Wall Street Journal reported, citing a draft version of a U.S. Securities & Exchange Commission report.
2008-08-02 07:50:44 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
Small Florida bank is 8th U.S. failure this year WASHINGTON - Bank regulators closed a small Florida-based bank on Friday, the eighth U.S. bank to fail this year under pressure from a weak economy and a credit crisis precipitated by falling home prices. The Federal Deposit Insurance Corp said First Priority Bank had $259 million in assets and $227 million in deposits and its ...
2008-08-02 08:05:12 -
Analysis: Democrats exact price from Bush for war (AP via Yahoo! News)
They did not end the Iraq war or tackle $4-a-gallon gas.
2008-08-02 08:21:05 -
Analysis: Democrats Exact Price From Bush For War (FOX 29 Lake Charles)
WASHINGTON -- They did not end the Iraq war or tackle $4-a-gallon gas. But the Democratic-run Congress created programs this year to educate veterans and feed and house the poor. Democrats also cuts deals with a weakened GOP president to send voters some economic help.
2008-08-02 08:31:40 -
James Galbraith's 'Predator State': damning, incisive (Austin American-Statesman)
Since John Stuart Mill wrote "The Principles of Political Economy" in 1848, economists have generally believed that free trade and free markets arise universally from the principle that supply and demand eventually meet in an equilibrium, which is why markets are self-correcting, and government action is self-defeating.
2008-08-02 08:40:55 -
In finance, New York's loss is Chicago's gain (Chicago Tribune)
Windy City lures pros amid Wall St. turmoil Gilded resumes that never traveled west of the Hudson River are bound for Lake Michigan, as area investment houses are recruiting amid layoffs on Wall Street.
2008-08-02 09:05:45 -
States face tough choices as budget crisis deepens (Park Hills Daily Journal)
SACRAMENTO, Calif. (AP) — Gov. Arnold Schwarzenegger is laying off as many as 22,000 state employees. New York’s governor is raising the possibility of selling — or more accurately, leasing — the Brooklyn Bridge. Nevada is burning through its rainy-day fund like a gambler on a losing streak. And Maryland is pinning its hopes on slot machines.
2008-08-02 09:22:37 -
Police and local briefs (Fort Wayne News-Sentinel)
Fort Wayne Police have made an arrest in the stabbing death of a 35-year-old man who was found on the porch of a southeast-side home last summer.
2008-08-02 09:23:03 -
US jobless rate highest in 4 years, payrolls drop (ABS-CBNNEWS.com)
WASHINGTON - The U.S. unemployment rate hit its highest in four years during July as employers cut jobs for a seventh straight month, though less severely than predicted, a Labor Department report showed on Friday.
2008-08-02 06:33:24 -
Audrey sunk by 'helpful' new loan (Herald Sun)
SOME time next month, Audrey Kendall will lose her house. As she battled a terrible and debilitating brain disease, she lost her job, then her husband.
2008-08-02 07:00:00 -
Calif. Workers Suing Schwarzenegger Over Cuts (KDKA Pittsburgh)
California 's largest state employees union has filed a lawsuit to block Gov. Arnold Schwarzenegger's executive order forcing layoffs for thousands of employees.
2008-08-01 07:59:46 -
Greedy banks ripping you off (Herald Sun)
THE major banks are squeezing more profits out of their domestic customers to make up for overseas misadventures, a report revealed.
2008-08-02 07:00:00 -
When did we hit 'recession'' Better to ask, how hard' (The Sarasota Herald-Tribune)
For many in Southwest Florida, the real estate downturn has made it feel like a recession for more than a year.
2008-08-01 10:21:15 -
Veterans have another mortgage option (Austin American-Statesman)
Shoved aside by the hot mortgage products of recent years, Veterans Affairs mortgage loans are making a comeback and are a viable financing alternative for veterans looking to secure an attractive fixed-rate loan with little or no money down.
2008-08-02 07:11:48 -
Treasuries Post Biggest Gain Since June as U.S. Economy Slows (Bloomberg.com)
Aug. 2 (Bloomberg) -- Treasuries posted the biggest weekly gains since June as government reports showed the economy slowing and employment falling, adding to expectations that the Federal Reserve won't raise interest rates this year.
2008-08-02 07:20:44