Mortgage and Financial News From 2008-3-14 Page 3

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• Gold Glitters, Dollar Loses Its Luster (NYTimes.com via Yahoo! Finance)

  Gold has always been a refuge in troubled times. And on Thursday the treasure of millennia finally ticked past the millennium mark.
  2008-03-14 07:40:03

• Credit Cards Are Frothy, Not Bubbly (NYTimes.com via Yahoo! Finance)

  To a maddening degree, credit card companies will actually do O.K. while the rest of us suffer. Annoying, isn’t it?.
  2008-03-14 07:40:04

• President Acknowledges Strains on the Economy (NYTimes.com via Yahoo! Finance)

  President Bush on Friday acknowledged that the economy has slipped into trouble, but he inveighed against government bailouts aimed at limiting the pain.
  2008-03-14 07:40:33

• Metropolitan Furniture's Oakland plant closure is latest of area ...

  East Bay Business Times - Over the last several months, East Bay companies or companies with East Bay locations, such as Safeway Inc. , FormFactor Inc. ... California falls to No. 4 in mortgage fraud WaMu credit rating cut by Moody's, stock sinks S&P won't cut Southwest Airline's ...
  2008-03-14 05:39:00

• Stocks Fall on Bear News

  CNBC - Companies: AnnTaylor Stores Corporation | Eastman Kodak Co | Boeing Co | Thornburg Mortgage, Inc. | UBS AG | Lehman Brothers Holdings Inc | Bear Stearns Companies Inc ... After months of credit worries, the moment finally arrived when it was time for ...
  2008-03-14 02:47:00

• Russia Wiped Off the Books

  Kommersant - One of the stimuli for this wave was the scandal in the UN over the Oil for Food Program, in which many Russian companies were involved,” Sergey Korepanov, chairman of the board of the Russian Mortgage Bank said. “The Americans themselves say the ...
  2008-03-14 04:56:00

• Stocks rise after S&P report

  Tehran Times - ... Poor's predicted financial companies are nearing the end of the massive asset write-downs that have devastated the stock and credit markets. The S&P projection gave investors some hope that the seemingly unrelenting losses from the mortgage and ...
  2008-03-14 04:49:00

• Stocks retreat on credit fears

  Forbes - The Russell 2000 index of smaller companies fell 16.81, or 2.47 percent, to 662.90. ... The S&P projection had given investors some hope that the seemingly unrelenting losses from the mortgage and credit crisis ...
  2008-03-14 03:51:00

• With high risk and cheap stock, will Bear be sold?

  MSN MoneyCentral - But while Bear's cheap stock price could attract some suitors keen to buy its mortgage finance and trading assets, its ... In addition to JP Morgan, potential buyers include Merrill Lynch & Co Inc and foreign companies such as HSBC Holdings ...
  2008-03-14 05:46:00

• Global financial system braced for ripple effect

  Financial Times - Bear is a significant underwriter of mortgage securities, an active trader of derivatives and leading financier of hedge ... Many banks have double-A credit ratings, but the price charged to insure their debt is more typical of lower-rated companies.
  2008-03-14 01:07:00

• Treasuries Rise as Bear Funding Heightens Credit Market Concern

  Bloomberg - ... had their best start to a year since 2002 as the world's largest financial firms reported more than $195 billion of mortgage ... In another sign of banks' continued reluctance to lend, the difference between what the U.S. government and companies pay for ...
  2008-03-14 02:47:00

• At least give Spitzer credit for taking on the bad guys

  Houston Chronicle - Mortgage companies, he recently wrote in The Wall Street Journal, were "making loans without regard to consumers' ability to repay, making loans with deceptive 'teaser' rates that later ballooned astronomically, packing loans with undisclosed charges ...
  2008-03-11 05:57:00

• U.S. Stocks Fall, Led by Banks; Bear Stearns Drops Most Ever

  Bloomberg - Bear Stearns, the second-largest underwriter of U.S. mortgage bonds, tumbled the most ever after the brokerage said it ran ... Semiconductor companies slid 3 percent as a group. Micron Technology Inc., the largest U.S. maker of memory chips, lost 35 ...
  2008-03-14 04:49:00

• Pa. Senate passes predatory lending legislation

  Philadelphia Business Journal - Current laws require almost 5,500 mortgage companies to be licensed but not their lenders. Applicants will be required to complete at least 12 hours of instruction and pass tests related to mortgage lending laws and practices.
  2008-03-12 01:16:00

• VIX Closes at Highest Since March 2003 on Bear Stearns Bailout

  Bloomberg - That's a level Ambac Financial Group Inc. and Thornburg Mortgage Inc. reached this year as investors sold stock on concern the companies may fail.
  2008-03-14 04:49:00

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