Mortgage and Financial News From 2008-4-1 Page 01
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Senate Foreclosure Relief Bill Advances (KTVN Reno)
Senators in both parties are agreeing on a plan to fix the nation's home foreclosure crisis. Majority Leader Harry Reid and GOP Leader Mitch McConnell say they'll bring a bipartisan bill to the floor, possibly as soon as tomorrow.
2008-04-01 06:52:37 -
Australian Companies Return to Bond Markets Offshore (Update2) (Bloomberg.com)
April 2 (Bloomberg) -- Australia's biggest companies are returning to corporate bond markets for the first time in more than a year, selling securities in Europe and the U.S. to take advantage of cheaper borrowing costs than in their home market.
2008-04-01 07:45:36 -
Deal Moves Senate Foreclosure Relief Ahead (Fox 12 Oregon)
WASHINGTON -- A legislative effort to address the nation's home foreclosure crisis moved forward in the Senate Tuesday as Democratic and GOP leaders defused a potential filibuster.
2008-04-01 08:08:37 -
Foreclosure Relief Moves Forward In Senate (KSAT San Antonio)
Senate leaders bring a bipartisan bill on foreclosure relief to the floor instead of a Democratic plan that stalled a month ago.
2008-04-01 08:15:40 -
Senate sets urgent push for housing compromise (Muzi)
Democrats and Republicans in the Senate agreed on Tuesday to draft a housing rescue bill that could deliver billions of dollars to homeowners facing foreclosure and help steer the economy away from a deep recession.
2008-04-01 08:21:48 -
Congress Fast-Tracks Work on Homeowner Relief (NYTimes.com via Yahoo! Finance)
The push is the latest sign of a growing consensus that broader government action is needed to prevent a torrent of new foreclosures.
2008-04-01 08:40:30 -
S.O.S. Unanswered (NYTimes.com via Yahoo! Finance)
Critics claim Hope Now, a White House-backed group formed to help struggling homeowners, supports the interests of lenders, not homeowners.
2008-04-01 08:40:39 -
Easy credit for farmers and low income groups raises NPL spectre (The Nation - Thailand's English news)
The government's easy-credit policy is putting taxpayers' pockets at risk. Financial innovations....
2008-04-01 07:04:26 -
Auto sales drop by double digits in March; UBS and Deutsche Bank say they are writing down billions more in bad ... (Austin American-Statesman)
DETROIT — Automakers began 2008 expecting the worst year for U.S. auto sales in a decade. So far, they're getting what they anticipated.
2008-04-01 07:18:17 -
Big banks in no rush to raise China stakes (Straits Times)
NEW YORK - CASH-STRAPPED international banks are showing a lot less interest in increasing their investments in the Chinese banking sector than they were before the global credit crisis took its toll, Chinese banking sources said.
2008-04-01 07:21:29 -
Comments, corrections, clarifications, and c*ckups (Crikey)
Gavin Caudle writes : Re. "Can the Templestowe boy be fingered for all Opes Prime's woes?" (Yesterday, item 22). As one of the hundreds of clients caught up in Opes, I really appreciate Stephen Mayne highlighting the sale of shares below market to Tricom. Part of that $171m is mine.
2008-04-01 07:23:11 -
European banks feel subprime pain (CNN.com)
GENEVA (AP) -- Two of Europe's largest banks, UBS and Deutsche Bank, disclosed Tuesday that they are writing down billions more in bad investments, reflecting the unrelenting wave of woe from the U.S. subprime crisis.
2008-04-01 07:26:56 -
UBS to Write Down Another $19 Billion (NYTimes.com via Yahoo! Finance)
The Swiss bank, which also announced the resignation of its chairman, said the write-down would result in a $12 billion quarterly loss.
2008-04-01 07:40:30 -
Wall Street Shows Optimism That Crisis Is Fading (NYTimes.com via Yahoo! Finance)
Stocks started the second quarter with a soaring rally, as investors found reasons to believe that the drumbeat of subprime woes may be coming to an end.
2008-04-01 07:40:54 -
The clouds will clear (Moneymanager)
We didn't (quite) have brokers hurling themselves out of 37th-storey windows but the near-collapse of US investment bank Bear Stearns last month triggered a wholesale panic on world investment markets.
2008-04-01 07:50:16