Editorial Results (free)
1. Why Geithner's Treasury Leadership Proved Divisive
- Friday, January 25, 2013
WASHINGTON (AP) – President Barack Obama has saluted the outgoing Timothy Geithner as one of the best U.S. Treasury secretaries ever. He's surely been among the most contentious.
Not since the Great Depression had an administration inherited so many grave financial threats at once. To many, Geithner deserves credit for helping steady the banking system and helping restore investor confidence. Yet his toughest critics say Geithner's policies consistently favored big banks over ordinary struggling Americans.
2. Report: Countrywide Won Influence With Discounts
- Friday, July 6, 2012
WASHINGTON (AP) – The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report.
3. US Proposes New, Tougher Rules for Big Banks
- Wednesday, December 21, 2011
NEW YORK (AP) – The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to cushion themselves against financial crises.
4. NYT Editor: Financial Crisis is Human Failure
- Monday, November 21, 2011
The only applause line Gretchen Morgenson got during her presentation to the Economic Club of Memphis came during a question-and-answer session at the end.
Morgenson, a columnist and assistant business editor for The New York Times, spoke to the club Thursday, Nov. 17, in the Tower Room atop Clark Tower. She’s recently published a book on the financial crisis, “Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.”
5. MF Global's Dive Shows Few Changes on Wall Street
- Friday, November 11, 2011
WASHINGTON (AP) – After countless new rules designed to make Wall Street safer, it's come to this: Another securities firm has collapsed from risky, poorly disclosed bets.
Not enough, in other words, has changed since the U.S. financial system nearly toppled three years ago.
6. Republicans: Report on Financial Crisis was Biased
- Thursday, February 17, 2011
WASHINGTON (AP) – Republicans criticized a government report on the causes of the 2008 financial crisis as biased and political on Wednesday. Democrats fired back that Republicans want to roll back federal regulations of the financial industry.
7. BofA Halts Foreclosures in 50 States
- Monday, October 11, 2010
WASHINGTON (AP) – A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real estate industry into chaos, as Bank of America on Friday became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states.
8. Congress Acts, But Bank Bill Has Work Ahead
- Monday, July 19, 2010
WASHINGTON (AP) — In the end, it's only a beginning.
The far-reaching new banking and consumer protection bill that President Barack Obama intends to sign on Wednesday now shifts from the politicians to the technocrats.
9. Banking Regulation Clears Senate Hurdle
- Friday, July 16, 2010
A sweeping crackdown on banking and high-finance broke through a Senate Republican blockade Thursday, setting the stage for Congress to send the massive regulation overhaul to President Barack Obama.
10. Obama Claims Victory In Financial Overhaul Deal
- Monday, June 28, 2010
WASHINGTON (AP) – House and Senate negotiators reached an agreement Friday on legislation that redefines federal oversight of Wall Street and, following the signing of the health care act in March, adds a milestone to mark the Obama presidency.
11. Tentative Consumer Deal Gives Auto Dealers a Break
- Wednesday, June 23, 2010
WASHINGTON (AP) — In a setback for the Obama administration, House and Senate negotiators assembling a massive financial regulation bill are on the verge of excluding auto dealers from direct oversight by a new consumer protection bureau.
12. Lawmakers Consider Home Tax Credit Extension
- Friday, June 11, 2010
WASHINGTON (AP) — Homebuyers may get an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.
Senate Majority Leader Harry Reid, D-Nev., said Thursday he wants to give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
13. Consumer Watchdog Eyes Lenders in New Bank Rules
- Monday, May 24, 2010
Consumer watchdog eyes lenders in new bank rules
JIM KUHNHENN,Associated Press Writer
WASHINGTON (AP) — Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged the nation into a severe recession two years ago.
14. US Lawmaker: Suit Should Affect Republicans
- Tuesday, April 20, 2010
WASHINGTON (AP) - The chairman of the Senate Banking Committee said Monday that the U.S. government's fraud lawsuit against Goldman Sachs should dissuade Republicans from attempting to block financial regulations pending before the Senate.
15. US Bank Bill Set to Pass By Democrats on Panel
- Tuesday, March 23, 2010
A bill rewriting regulations governing the U.S. financial industry is expected to be approved by a Senate committee’s Democrats now that Republicans have decided to withdraw their amendments.
The decision means Senate consideration could come as early as Monday.
16. Bank Bill Set to Pass Committee on Party Line Vote
- Tuesday, March 23, 2010
WASHINGTON (AP) - Republicans abandoned hope of altering Wall Street legislation in a key Senate committee on Monday, clouding prospects for a bipartisan bill and leaving the fight for the full Senate.
17. Geithner Says Bank Overhaul Must Protect Consumers
- Tuesday, March 23, 2010
WASHINGTON (AP) - U.S. Treasury Secretary Timothy Geithner says the administration will not accept a financial overhaul bill that does not provide strong consumer protection and restraints on risk taking by large banks.
18. Bair Says Senate Bill Must be Tweaked
- Monday, March 22, 2010
WASHINGTON (AP) - The head of the Federal Deposit Insurance Corp. said Friday loopholes need to be filled in new Senate legislation to ensure an end to the disastrous "too-big-to-fail" approach that brought the government rushing in to bail out big banks in the financial crisis.
19. Bernanke to Wage Fresh Battle For Fed Powers
- Thursday, March 18, 2010
WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke plans to wage a fresh battle against Senate efforts to scale back the Fed’s role in supervising the nation’s banks.
In testimony prepared for a House of Representatives hearing on Wednesday obtained by The Associated Press, Bernanke argued that the Fed factors in information it gets from its role as a regulator into its decisions on interest rates. And, Bernanke said its banking duties give the Fed insights into the health of the entire banking system.
20. Dodd Unveils Plan to Tame Financial Markets
- Tuesday, March 16, 2010
WASHINGTON (AP) - A Democratic Senate bill to tame the financial markets would give the government new powers to break up firms that threaten the economy and would force the industry to pay for its failures.
21. Talks on Bank Rules Zero in on Consumer Protection
- Wednesday, March 3, 2010
WASHINGTON (AP) - More than a year after Lehman Brothers' collapse set off a financial panic, U.S. Senate negotiators are laboring to seal a deal over a consumer protection dispute holding up broad legislation to establish new rules for Wall Street.
22. Fed Looking Into Insurance Contracts on Greek Debt
- Friday, February 26, 2010
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is examining arrangements Goldman Sachs and other Wall Street firms have with Greece involving high-risk financial instruments.
23. Bayh Cites Strident Partisanship in Leaving Senate
- Wednesday, February 17, 2010
WASHINGTON (AP) - Two-term Sen. Evan Bayh says ever-shriller partisanship and the frustrations of gridlock made it time for him to leave Congress. Republicans aren't buying it, saying he and fellow Democrats sense that voters will be after their heads this fall.
24. Dodd Sees New Hope for Bipartisan Bank Bill
- Friday, February 12, 2010
WASHINGTON (AP) - Senate Democrats are trying a new route to break through an impasse on writing banking rules to prevent another financial meltdown.
Senate Banking Committee Chairman Christopher Dodd said Thursday he has recruited Republican Sen. Bob Corker of Tennessee to help draft a bill that can win the GOP support needed to get it through the Senate.
25. Banking Regulation Bill Hits Impasse in Senate
- Monday, February 8, 2010
WASHINGTON (AP) - Efforts to reach bipartisan agreement on regulations to prevent another financial meltdown have reached an impasse in the Senate Banking Committee and Chairman Christopher Dodd said Friday he will move forward with his version of the bill.
26. Bernanke Makes Case for Fed Keeping Banking Powers
- Friday, January 15, 2010
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke waged a fresh battle against Senate efforts to strip the Fed from banking supervision.
Bernanke, in a paper to Congress released Thursday, argued that stripping the Fed of such power would deprive the central bank of information that factors into the setting of interest rates to influence overall economic activity.
27. Senate Panel Clears Bernanke Nomination
- Friday, December 18, 2009
WASHINGTON (AP) - A Senate panel on Thursday approved the nomination of Federal Reserve Chairman Ben Bernanke to run the nation's central bank for another four years.
The Senate Banking Committee voted 16-7 to send Bernanke's nomination to the full Senate for consideration. Approval came after a two-hour debate that heaped both praise and criticism on the Fed chief.
28. Bernanke Claims Tools, Will to Reel in Stimulus
- Friday, December 4, 2009
WASHINGTON (AP) - Making a case for a second term as head of the Federal Reserve, Ben Bernanke said Thursday that he has the tools and the political backbone necessary to reel in massive economic support once the recovery is firmly rooted.
29. Fed Tightens Conflict of Interest Rules
- Monday, November 30, 2009
WASHINGTON (AP) - The Federal Reserve last week tightened the conflict of interest restrictions governing the boards of directors of its 12 regional banks.
The new rules were passed to deal with potential conflicts such as one that involved Stephen Friedman, a former chairman of Goldman Sachs Group Inc. The requirements take effect immediately and spell out the obligations of directors with ties to financial institutions that change status while the official is serving on a Fed regional board.
30. Fed: Banks Need Customer Consent on Overdraft Fees
- Friday, November 13, 2009
WASHINGTON (AP) - Banks will have to secure their customers' consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced Thursday by the Federal Reserve.
31. US Senate Democrats Move to Curb Fed's Powers
- Wednesday, November 11, 2009
WASHINGTON (AP) - Senate Democrats on Tuesday proposed stripping the U.S. Federal Reserve of its supervisory powers and creating instead three new federal agencies to police banks, protect consumers and dismantle failing institutions.
32. US Home Sales Rise 9.4 Percent in Sept., Beats Forecast
- Monday, October 26, 2009
WASHINGTON (AP) – Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
33. US Economic Recovery Just Beginning, Treasury Official Says
- Friday, September 25, 2009
WASHINGTON (AP) – The U.S. economic recovery has just begun and “we still have work to do,” a senior Treasury official told Congress Thursday, sending the strongest signal yet that the administration is prepared to extend its $700 billion bank bailout fund.
34. Where Will Banks Make Up Lost Overdraft Fees?
- Thursday, September 24, 2009
NEW YORK (AP) — Banks are backing off harsh overdraft fees and policies. That's the good news. The bad news is they'll probably look to make up that lost profit elsewhere.
It's a worrisome prospect for the vast majority of customers who never overdraw their funds and have grown accustomed to perks like free checking accounts.
35. Senate Bill Could Weaken the Fed
- Tuesday, September 22, 2009
WASHINGTON (AP) - Consensus is building in the Senate for legislation that would significantly weaken the Federal Reserve by stripping its power to oversee banks and hand that job to a single federal bank regulator.
36. Congress Probing SEC's Madoff Failure
- Friday, September 11, 2009
WASHINGTON (AP) - Congress is reopening its inquiry into the U.S. Securities and Exchange Commission's failure to detect the multibillion-dollar fraud conducted for more than a decade by Bernard Madoff, this time seeking answers from the agency watchdog and potential lessons for lawmakers in crafting new financial rules.
37. Senate Shakeup Won't Change Liberal Control
- Thursday, September 10, 2009
WASHINGTON (AP) - An anticipated shake-up in Senate leadership resulting from Ted Kennedy's death won't change a central tenet of this Congress: Liberals are still very much in charge.
38. Bernanke Faces More Tough Questions in Congress
- Thursday, July 23, 2009
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke ran into more tough questions Wednesday in Congress Hill about the central bank's extraordinary actions to rescue the U.S. economy and its ability to take on even more responsibility.
39. Lawmakers Frustrated With Foreclosure Aid Programs
- Friday, July 17, 2009
WASHINGTON (AP) - Lawmakers vented Thursday about the government's inability to solve the nation's housing woes as fresh data showed foreclosure filings continued to rise.
Sen. Christopher Dodd., D-Conn., chairman of the Senate Banking Committee, called the overall lack of progress by the government "disgraceful." He noted that borrowers are facing long delays as they try to get help.
40. Paulson Defends His Response to Economic Crisis
- Thursday, July 16, 2009
WASHINGTON (AP) - Former Treasury Secretary Henry Paulson on Wednesday defended his response to the economic crisis last year as an imperfect, but necessary rescue that spared the U.S. financial market from total collapse.
41. White House, Hospitals Reach Deal on Health Care
- Thursday, July 9, 2009
WASHINGTON (AP) - The nation's hospitals will give up $155 billion in future Medicare and Medicaid payments to help defray the cost of President Barack Obama's health care plan, a concession the White House hopes will boost an overhaul effort that's hit a roadblock in Congress.
42. Administration Sends Congress Consumer Legislation
- Wednesday, July 1, 2009
WASHINGTON (AP) - The Obama administration sent Congress legislation Tuesday to create a new Consumer Financial Protection Agency designed to protect Americans from unscrupulous practices and make financial products easier to understand.
43. Citi Boosting Salaries to Offset Lower Bonuses
- Thursday, June 25, 2009
NEW YORK (AP) - Citigroup Inc. is increasing the base salaries of many employees – reportedly by as much as 50 percent for some workers – as it restructures their compensation amid government restrictions on bonuses.
44. Senate Questions Obama's Financial Oversight Plan
- Friday, June 19, 2009
WASHINGTON (AP) - President Barack Obama's plan to increase oversight of U.S. banks and other financial institutions met with skepticism on Capitol Hill on Thursday, where senators sharply questioned whether it was enough to prevent another economic meltdown.
45. Senate Off to a Rocky Start on Health Care
- Thursday, June 18, 2009
WASHINGTON (AP) - The Senate on Wednesday began writing legislation to revamp the nation's health care system, but its historic first step was overshadowed by partisan anger and cost problems that troubled lawmakers on both sides.
46. Lawmakers Fear Turning Fed Into Regulatory Monster
- Wednesday, June 17, 2009
WASHINGTON (AP) - Many lawmakers fear President Barack Obama's plan to prevent another financial meltdown might end up turning the Federal Reserve into an all-powerful monster – a friction that could slow down a major overhaul of banking and market regulations.
47. Historic Anti-Smoking Vote to Give FDA New Power
- Friday, June 12, 2009
WASHINGTON (AP) - Congress struck the government's strongest anti-smoking blow in decades Thursday with a Senate vote to give regulators new power to limit nicotine in cigarettes, drastically curtail ads and ban candied tobacco products aimed at young people.
48. SEC Charging Ex-Countrywide CEO Mozilo With Fraud
- Friday, June 5, 2009
WASHINGTON (AP) - Federal regulators on Thursday charged Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two other company executives with civil fraud.
49. Geithner: Bank Payback $25B Over Next Year
- Thursday, May 21, 2009
WASHINGTON (AP) – U.S. Treasury Secretary Timothy Geithner said Wednesday a new public-private partnership to help U.S. banks shed their bad assets will begin operating in the next six weeks.
50. US Senate Passes Credit Card Overhaul Bill
- Wednesday, May 20, 2009
WASHINGTON (AP) - The Senate voted overwhelmingly on Tuesday to rein in credit card rate increases and excessive fees, hoping to give voters some breathing room amid a recession that has left hundreds of thousands of Americans jobless or facing foreclosure.
51. SEC Chief Backs 'Systemic Risk Council' Idea
- Monday, May 11, 2009
WASHINGTON (AP) - The head of the Securities and Exchange Commission said Friday she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the economy.
52. Senate Moves Toward Easing Mortgage Terms
- Thursday, May 7, 2009
WASHINGTON (AP) - Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government.
53. Auditors See SEC Deficiencies
- Thursday, May 7, 2009
WASHINGTON (AP) - The Securities and Exchange Commission has made progress in tightening its procedures for managing its caseload of enforcement investigations but internal communications and use of resources still must be improved, congressional auditors have concluded in a new report.
54. Credit Card Legislation Faces Senate Test
- Monday, May 4, 2009
WASHINGTON (AP) - Propelled through the House by antibusiness sentiment in tough economic times, legislation putting new reins on the credit card industry now goes to the Senate, where the bill's prospects appear promising.
55. Bank Stocks Up Amid Report of Gov't Plan for Citi
- Tuesday, February 24, 2009
NEW YORK (AP) - Bank stocks rose in early morning trading Monday after hitting new lows last week as investors welcomed the possibility that the government would increase its ownership stake in struggling Citigroup Inc. – an alternative to nationalizing the bank.
56. Watchdog: Treasury Overpaid for Bank Stocks
- Friday, February 6, 2009
WASHINGTON (AP) - The federal government overpaid for stocks and other assets in attempting to help financial institutions last year, a government watchdog said Thursday, taking further issue with the beleaguered $700 billion rescue program.
57. Obama Will Broaden Bailout Spending
- Tuesday, January 13, 2009
WASHINGTON (AP) - President-elect Barack Obama's top economic adviser told congressional leaders Monday that the incoming president would broaden goals for using the remaining $350 billion financial bailout and insure transparency and oversight.
58. Citi Reaches Deal with Lawmakers on Home Loans
- Friday, January 9, 2009
WASHINGTON (AP) - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit.
59. Big Three Automakers Beg for $25 Billion Lifeline
- Wednesday, November 19, 2008
WASHINGTON (AP) - Detroit's Big Three automakers pleaded with Congress on Tuesday for a $25 billion lifeline to save their once-proud companies from collapse, warning of broader peril for the national economy as well.
60. Banks Say They're Using Bailout Money for Loans
- Friday, November 14, 2008
WASHINGTON (AP) – Some of the nation's largest banks sharing in the $700 billion government bailout of the financial industry tried to assure lawmakers Thursday they are using the money to make more loans and help financially strapped homeowners avoid foreclosure.
61. New Home Sales and Factory Orders Fall in August
- Friday, September 26, 2008
WASHINGTON (AP) – New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
62. Paulson Urges Quick Action on $700B Bailout
- Tuesday, September 23, 2008
WASHINGTON (AP) – The Bush administration insisted Sunday that Congress must move quickly to approve what one lawmaker called the “mother of all bailouts” – a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation’s credit markets.
63. McCain Says Fed Should Stop Government Bailouts
- Monday, September 22, 2008
GREEN BAY, Wis. (AP) - Republican John McCain said Friday the Federal Reserve needs to stop bailing out failed financial institutions.
The Republican presidential hopeful said the Fed should get back to "its core business of responsibly managing our money supply and inflation" and he laid out several recommendations for stabilizing markets in the financial crisis that has rocked Wall Street and commanded the dialogue in the presidential campaign.
64. Fed, Central Banks Move to Boost Global Confidence
- Friday, September 19, 2008
NEW YORK (AP) - The worst global financial crisis since the Great Depression forced the Federal Reserve and central banks in other countries to pump billions of dollars into the world's banking system in an urgent bid to stop further damage.
65. Two House Republicans Seek Countrywide Probe
- Friday, August 15, 2008
WASHINGTON (AP) - Two Republicans are calling for an investigation into whether House lawmakers or staffers received preferential treatment from mortgage lender Countrywide Financial Corp.
The troubled lender, which was sold to Bank of America Corp. earlier this year, has been the focus of allegations that it gave favorable loan terms to lawmakers.
66. Homeowner Rescue Plan Awaits President Bush’s Signature
- Tuesday, July 29, 2008
WASHINGTON (AP) – Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations.
67. House OKs Rescue for Homeowners, Freddie, Fannie
- Friday, July 25, 2008
WASHINGTON (AP) - Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.
68. Lawmakers Move to Curb Fannie, Freddie Pay ?
- Wednesday, July 23, 2008
WASHINGTON (AP) – Democrats and Republicans queasy about a federal rescue of mortgage giants Fannie Mae and Freddie Mac are coalescing around the idea of letting the government slap limits on the multimillion-dollar pay packages of their executives.
69. Reality Trumps Ideology In Fannie-Freddie Rescue
- Tuesday, July 22, 2008
WASHINGTON (AP) – Odd alliances are at work as President Bush and congressional Democrats band together to save Fannie Mae and Freddie Mac.
The push to reassure markets that the mortgage giants are financially healthy has thrust Republicans – who have never liked the idea of government-sponsored mortgage companies – into the arms of Democrats, who long have championed Fannie’s and Freddie’s mission of helping low- and middle-income Americans buy homes.
70. Fannie, Freddie Rescue Pushes Housing Aid
- Tuesday, July 15, 2008
WASHINGTON (AP) - A foreclosure aid plan that was facing a sluggish trip through Congress has a powerful new engine behind it: the Bush administration's urgent request to rescue mortgage giants Fannie Mae and Freddie Mac.
71. US Spells Out Fannie-Freddie Backstop Plan
- Tuesday, July 15, 2008
WASHINGTON (AP) – Scrambling to bolster eroding investor confidence, the Federal Reserve and the Treasury Department have announced steps to brace slumping mortgage giants Fannie Mae and Freddie Mac.
72. Washington, Wall St. Weigh Fannie, Freddie Help
- Monday, July 14, 2008
WASHINGTON (AP) - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market.
73. Congress Wrangles Over Bill to Help Homeowners
- Friday, July 11, 2008
WASHINGTON (AP) - The Senate on Thursday inched closer to passing a massive mortgage rescue bill, but it will likely have to go the whole nine yards in the House.
By a vote of 84-12, the Senate cleared away the last procedural hurdle hindering the measure, putting the election-year aid package on track for approval by week's end.
74. AP Interview: Frank Threatens Tough Mortgage Rules
- Wednesday, April 16, 2008
WASHINGTON (AP) - Congressional Democrats and President Bush will agree on a bill to help half a million or more struggling homeowners get into lower-cost mortgages, but it won't be through the bankruptcy courts, the chairman of the House Financial Services Committee predicted Tuesday.
75. Democrats Push for MoreHelp for Economy
- Tuesday, April 8, 2008
Democratic lawmakers said Sunday that Congress should pass a second economic aid plan that would focus on helping homeowners avoid foreclosure and increasing spending on bridges, roads and transit systems.
76. U.S. Senate Leaders Agree on Bill to Ease Housing Crisis
- Thursday, April 3, 2008
WASHINGTON (AP) - Momentum built Wednesday for a bipartisan Senate bill designed to ease the slumping housing market and help millions of families threatened by foreclosure, though economists are skeptical that it will help much.
77. Bush Administration Unveils Sweeping Plan To Overhaul Financial Regulation
- Tuesday, April 1, 2008
WASHINGTON (AP) - The Bush administration Monday proposed the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression.
78. Senator Calls Paulson, Bernanke, Execs to Testify
- Friday, March 28, 2008
WASHINGTON (AP) - Bear Stearns shareholders aren't the only ones questioning the bargain-basement buyout of the investment bank.
Top lawmakers want more information about the government's role in propelling the sale of Bear Stearns Cos. to JPMorgan Chase & Co.
79. Gov't May Soon Loosen Capital Restraints On Fannie, Freddie
- Wednesday, March 19, 2008
WASHINGTON (AP) - Fannie Mae and Freddie Mac are expected to get further financial leeway from the government, enabling the mortgage-finance companies to expand their roles in the stricken housing market.
80. Regulators Say Banking Industry Strong Despite Current Problems
- Wednesday, March 5, 2008
WASHINGTON (AP) - Banking and savings and loan institution regulators insisted Tuesday that the system remains strong despite precipitous declines in earnings sparked by the mortgage crisis.
81. Mortgage Industry Group Says Loan Workouts Grow to 1 million; Critics say Efforts Fall Short
- Tuesday, March 4, 2008
WASHINGTON (AP) - A banking industry group says lenders have helped more than 1 million troubled borrowers from last July through January, though critics say the response to the mortgage mess falls short.
82. Bernanke Dismisses Worries About US Economy Returning to '70s-Style 'Stagflation'
- Friday, February 29, 2008
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.
With the economy slowing and inflation rising, fears have grown that the country could be headed for the dreaded twin evils of stagnant growth and rising prices known as "stagflation."
83. Paulson Says Many Housing Proposals Would Do More Harm Than Good
- Friday, February 29, 2008
WASHINGTON (AP) - Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.
While he still believes that the housing problem remains the biggest downside risk to the economy, Paulson said the issue needed to be put in perspective. He said 93 percent of all mortgages are being paid on time and that less than 2 percent are in foreclosure.
84. House Lawmakers Consider $15B Mortgage Bailout Plan as Housing Troubles Continue
- Thursday, February 28, 2008
WASHINGTON (AP) - Investors could sell up to $15 billion of troubled mortgages to the government under a plan key House members are discussing to bolster the U.S. housing market.
The tentative plan would allow the government to purchase up to 1 million mortgages over five years in an effort to help struggling borrowers avoid foreclosure and financial markets avoid more credit-related losses. The loans would be bought by the Federal Housing Administration, a Depression-era agency that insures loans made to borrowers with poor credit.
85. Congress to Consider Bankruptcy Relief, Foreclosure Assistance
- Tuesday, February 26, 2008
WASHINGTON (AP) - Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market.
Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to home-owners facing foreclosure.
86. Administration Announces Program To Help Embattled Homeowners
- Wednesday, February 13, 2008
WASHINGTON (AP) - Homeowners threatened with foreclosure would in some instances get a 30-day reprieve under an initiative the Bush administration announced Tuesday.
Dubbed "Project Lifeline," the program will be available to people who have taken out all types of mortgages, not just the high-cost subprime loans that have been the focus of previous relief efforts.
87. Lawmakers Say Bigger Role for Fannie, Freddie Should Also Come with Tighter Gov't Oversight
- Friday, February 8, 2008
WASHINGTON (AP) - Senators on Thursday said Fannie Mae and Freddie Mac should play a bigger role in helping struggling homeowners even as they called for tighter oversight of the government-sponsored mortgage finance companies.
88. Bankers, Brokers Square Off to Combat Abusive Lending
- Monday, October 22, 2007
WASHINGTON (AP) - Mortgage brokers are squaring off with bankers over efforts in Congress to impose stiffer regulations on the industry.
The outcome of the long-running fight could help shape the future of a market battered by lax lending practices that have led to a surge in home loan defaults.
89. House Passes Plan to Expand FHA's Role in Mortgages and Housing Grants
- Wednesday, September 19, 2007
WASHINGTON (AP) - The U.S. House on Tuesday approved a plan to expand federal backing of mortgages in hopes of helping struggling homeowners avoid foreclosure.
The bill, which passed the House, 348-72, would allow the Federal Housing Administration, which insures mortgages for low- and middle-income borrowers, to back refinanced loans for tens of thousands of borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial "teaser" levels.
90. Regulators Say They're Closely Watching Markets; Full Economic Impact Not Yet Known
- Friday, September 7, 2007
WASHINGTON (AP) - Congressional Democrats promoting legislative solutions to the mortgage-market crisis said Wednesday that a Bush administration plan doesn't go far enough to protect homeowners who face huge increases in their monthly payments when rates on their adjustable mortgages jump in the months ahead.
91. Federal Reserve, Other Banking Agencies Urge Loan Companies to Help Prevent Mortgage Defaults
- Thursday, September 6, 2007
WASHINGTON (AP) - The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages.
92. Congressional Help for Those With Bad Mortgages Unlikely to Come Soon
- Wednesday, September 5, 2007
WASHINGTON (AP) - Want government help to get out of a bad subprime mortgage? Don't look for Congress to come to your rescue anytime soon.
Lawmakers have lots of ideas and plans - as well as hearings to share their concerns and assess blame - but there's no consensus on how to stop the foreclosures. The only thing everyone has agreed on is that something must be done.
93. Hearings This Fall Likely to Consider Rule Changes for Moody's, Standard & Poor's, Fitch
- Friday, August 31, 2007
WASHINGTON (AP) - Lawmakers this fall will consider stricter rules for credit-rating agencies amid criticism that they failed to accurately assess - or warn investors about - the risks that mortgage investments posed to financial markets.
94. U.S. Senator Urges Gov.To Make FHA Changes
- Monday, August 27, 2007
As bipartisan support grows for expanding the role of a federal housing agency in response to the mortgage market crisis, the chairman of the U.S. Senate Banking Committee on Thursday called on top administration officia
95. Mortgage Giants may not Provide Silver Bullet for Distressed Market, Experts Say
- Wednesday, August 8, 2007
WASHINGTON (AP) - Easing the investment constraints faced by Fannie Mae and Freddie Mac may not be enough to rescue homeowners and investors caught up in the mortgage market turbulence.
Shares of the government-sponsored home-loan financiers have surged in recent days on speculation that regulators will raise the amount of mortgage securities Fannie and Freddie can hold as investments. Mainstream Wall Street analysts believe such a move would ease the country's housing woes by injecting more cash into the market.
96. Tennesseans Give $1MTo Presidential Hopefuls
- Wednesday, July 25, 2007
Tennesseans have given more than $1 million to announced presidential candidates, according to disclosure reports filed through July 15.
The documents were reviewed by the Center for Res
97. Archived Article: Memos
- Wednesday, February 11, 1998
Thompson & Co Thompson & Co. has added three employees: Suzanne Gibson has joined the company as a senior account executive. She formerly was a marketing consultant. Gibson is a graduate of Robert Morris College. Janice Chu Kelly has joined ...