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September 06, 2008 |
Text size: increase text sizedecrease text size 9% of home loans in trouble
Miscellaneous
More than 4 million American homeowners with a mortgage, a record 9 percent, were behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday. |
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September 04, 2008 |
U.S. Must Buy Assets to Prevent `Tsunami,' Gross Says
Bloomberg
The U.S. government needs to start using more of its money to support markets to stem a burgeoning ``financial tsunami,'' according to Bill Gross, manager of the world's biggest bond fund. |
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September 03, 2008 |
Bank of England Gives UK Banks Estimated $354 Billion
Bloomberg
U.K. banks probably have tapped the Bank of England for more than 200 billion pounds ($354 billion) less than two months before its emergency funding plan is scheduled to end, according to UBS AG analysts. |
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August 29, 2008 |
Integrity Bank Becomes 10th U.S. Failure This Year
Bloomberg
Integrity Bank of Alpharetta, Georgia, was closed by U.S. regulators today, the 10th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Great Depression. |
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August 29, 2008 |
Huge European bank fails
CNNMoney
Dutch-Belgian bank and insurance giant Fortis NV was given a 11.2 billion euro ($16.4 billion) lifeline to avert insolvency as part of a wider bailout plan agreed to by Belgium, the Netherlands and Luxembourg, officials said Sunday. |
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August 27, 2008 |
Short of cash: FDIC may borrow money from Treasury
Reuters
Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. |
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August 26, 2008 |
Global bankers flocking to Dubai
Bloomberg
Christopher Laing, a managing director at Deutsche Bank AG in London, moved with his wife and twin boys to Dubai this month, joining a rush to the only region in the world where fees earned by securities firms are growing. |
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August 24, 2008 |
FDIC gets ready for bank failures
Miscellaneous
The Federal Deposit Insurance Corp. is one of those agencies with a low profile but essential role similar to plumbing or electricity — you don't notice it until the power's out or the basement's flooding. |
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August 19, 2008 |
Credit crunch may take out large US bank warns former IMF chief
TimesOnline (UK)
The deepening toll from the global financial crisis could trigger the failure of a large US bank within months, a respected former chief economist of the International Monetary Fund claimed today, fuelling another battering for banking shares. |
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August 19, 2008 |
Large U.S. Banks May Fail Amid Recession, Rogoff Says
Bloomberg
Credit market turmoil has driven the U.S. into a recession and may topple some of the nation's biggest banks, said Kenneth Rogoff, former chief economist at the International Monetary Fund |
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