Banking Industry - Articles

Credit Crisis Erodes Faith in Washington
Associated Press - Fri Sep 26, 2008
WASHINGTON - As if people needed one more reason to question their faith in Washington. More»

WaMu becomes biggest bank to fail in US history
Associated Press - Thu Sep 25, 2008
NEW YORK - As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks - Washington Mutual Inc - has collapsed under the weight of its enormous bad bets on the mortgage market. More»

Hundreds of Economists Urge Congress Not to Rush on Rescue Plan
Bloomberg - Wed Sep 24, 2008
More than 150 prominent US economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely. More»

Freddie Mac Paid McCain Aide's Firm
Associated Press - Wed Sep 24, 2008
WASHINGTON - Almost up until the time it was taken over by the government in the nation's financial crisis, one of two housing giants paid $15,000 a month to the lobbying firm of John McCain's campaign manager, a person familiar with the financial arrangement says. More»

Run on Hong Kong Bank
Telegraph, UK - Tue Sep 23, 2008
Panicked customers queued to withdraw their savings from branches of the Bank of East Asia in Hong Kong as rumours circulated that the bank was facing financial problems, agencies reported. More»

FDIC Funds Are Dwindling
Associated Press - Tue Sep 16, 2008
Banks are not the only ones struggling in the growing financial crisis - The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort. More»

More Bank Trouble: "Financial Meltdown"
Associated Press - Sun Sep 14, 2008
NEW YORK - When Wall Street woke up Monday morning, two more of its storied firms had fallen. More»

Bank of America grabs distressed Wall Street icon Merrill Lynch
AFP - Sun Sep 14, 2008
NEW YORK - Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. More»

Bank of America A Credit Card You Want to Toss
Business Week - Tue Feb 12, 2008
Credit-card issuers have drawn fire for jacking up interest rates on cardholders who aren't behind on payments, but whose credit score has fallen for another reason. More»

Fed survey: banks tightening credit
Associated Press - Sun Feb 3, 2008
Many US banks have made it harder for creditworthy borrowers to get a mortgage, according to a Federal Reserve survey released Monday that underscored the spread of a painful credit crunch. More»

US moves to avert economic meltdown
Associated Press - Mon Jan 21, 2008
Jolted by global recession fears, the Federal Reserve slashed interest rates Tuesday, and President Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending. More»

Court to consider investor's 401(k) suit
Associated Press - Sat Nov 24, 2007
James LaRue says he lost $150,000 when his instructions to his employer on where to invest money in his retirement plan were ignored. More»

British bank hit by panic withdrawals
AFP - Thu Sep 13, 2007
LONDON - Anxious customers of British bank Northern Rock rushed to withdraw their savings on Friday, forming queues in front of branches after the lender was bailed out by the Bank of England. More»

HomeBanc Mortgage Co Bouncing Checks Across Metro Atlanta
Associated Press - Tue Aug 14, 2007
ATLANTA - Dozens of Georgia real-estate lawyers are left holding millions of dollars worth of bad checks by HomeBanc's sudden exit from the mortgage lending business. More»

US mortgage crisis goes into meltdown
Telegraph.co.uk - Tue Feb 27, 2007
Panic has begun to sweep the sub-prime mortgage sector in the United States after the bankruptcy of 22 lenders over the past two months, setting off mass liquidation of housing loans packaged as securities. More»

- Thu Jan 1, 1970
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