NEW YORK, Dec. 5, 2008 (Reuters) — Late mortgage payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association said on Friday. ... > full story
BEIJING, Dec. 5, 2008 (Reuters) — China and the United States pledged on Friday to boost efforts to tackle the turmoil engulfing global markets and to continue high-level cooperation when President-elect Barack Obama takes office. ... > full story
WASHINGTON, Dec. 4, 2008 (Reuters) — The federal government must plan an exit strategy for several programs it has put in place to help rescue the financial system, the chairman of the U.S. Securities and Exchange Commission said on Thursday. ... > full story
WASHINGTON, Dec. 4, 2008 (Reuters) — The number of U.S. workers collecting jobless benefits hit a 26-year high last month, data showed on Thursday, and it may head higher as a deepening economic slump forces a broad spectrum of firms to cut jobs. ... > full story
NEW YORK, Dec. 4, 2008 (Reuters) — U.S. health-club operator Bally Total Fitness Holding Corp received on Thursday interim bankruptcy court approval to pay employee wages and access cash, until another hearing is held on Tuesday. ... > full story
NEW YORK, Dec. 4, 2008 (Reuters) — Hedge-fund manager Doug Kass, who successfully shorted U.S. equities this year including shares of Fannie Mae and Freddie Mac , is now buying U.S. stocks on the belief that they have hit bottom. ... > full story
WASHINGTON, Dec. 3, 2008 (Reuters) — The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday. ... > full story
NEW YORK, Dec. 3, 2008 (Reuters) — Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday. ... > full story
NEW YORK, Dec. 1, 2008 (Reuters) — JPMorgan Chase & Co said on Monday it will eliminate about 9,200 jobs at the former Washington Mutual Inc , which on September 25 became the largest U.S. bank to fail. ... > full story
WASHINGTON, Dec. 1, 2008 (Reuters) — Treasury Secretary Henry Paulson said on Monday the government was working on new programs to stimulate lending and expressed impatience that banks were not making more credit available. ... > full story
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Is Your Money Market Fund Really Safe? Dec. 3, 2008 (Crosswalk) — Something happened on Sept. 16, 2008 that had never happened before: a large retail money market fund "broke the buck." Investors, confident that ...
JPMorgan to cut 250 local jobs Dec. 1, 2008 (Jacksonville Business Journal) — About 250 Jacksonville jobs from JPMorgan Chase and Washington Mutual Inc. will be eliminated as a result of JPMorgan's acquisition of Washington ...
SEC eases 'mark to market' accounting rule Oct. 1, 2008 (Conde Nast Portfolio) — The U.S. Securities & Exchange Commission Tuesday decided to ease â??mark to marketâ? accounting rules which have hurt banks, mortgage lenders and ...
Time for Hard Questions Mar. 10, 2008 (Conde Nast Portfolio) — Why is no one calling for an independent inquiry into what caused the mortgage-market collapse? And, more importantly, how to prevent a repeat? ...
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