ON AIR NOW
Click to Play
Bitcoin Cash: $ USD
News Link •
Global
Sept. 16 (Bloomberg) -- American International Group Inc., the biggest U.S. insurer by assets, may get an $85 billion bridge loan from the Federal Reserve (WTF? The Federal Reserve is proping up Insurance Companies now?)
News Link •
Global
Joe Nocera, a Times columnist, explains why the future of A.I.G may be more telling than Tuesday's Federal Reserve rate decision.
News Link •
Global
House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”
News Link •
Global
Trading opened sharply down Monday morning, and the mood later turned even gloomier, despite efforts by President Bush and Treasury Secretary Henry M. Paulson to reassure markets that Wall Street’s deepening problems would not weaken an already anemi
News Link •
Global
Meredith Whitney stated "Futures indicate a 33% peak to trough housing price decline…I think well north of 40-45%" Watch the video of Meredith on CNBC.
News Link •
Global
The bill went into effect with recordings on or after 9/8/2008. The CA foreclosure process is managed by a trustee, and they were already processing volumes well above their capacity.
News Link •
Global
Washington Mutual, the biggest US savings and loan, fell 21% in New York trading on concern it won't be able to find new capital or a buyer to keep the lender in business. "There's a very good chance that they are the next one to fail,**
News Link •
Global
The largest unsecured creditors include Citigroup and Bank of New York Mellon, who have around $138bn of exposure to Lehman’s bond debt as indenture trustees.
News Link •
Global
Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors on Monday and said it was trying to sell off key business units.
News Link •
Global
The U.S. financial system this weekend faced its gravest crisis in modern times, as regulators resorted to triage on Wall Street to contain the spreading damage from a meltdown in the housing and mortgage market.
News Link •
Global
A bankruptcy by Lehman Brothers may prompt the sale of its $32.6 billion of commercial real estate investments, and that just may be the jolt the U.S. property market needs to get sales started again, some real estate executives said.
News Link •
Global
Lehman Brothers said early Monday it will file for bankruptcy, becoming the largest financial firm to fail in the global credit crisis, after federal officials refused to help other companies buy the investment bank by putting up taxpayer money as a
News Link •
Global
Peter Schiff on The Financial Crisis and Freddie and Fannie bailout
News Link •
Global
[blame game] In May, David Einhorn, one of the most vocal short sellers on Wall Street, made no secret he was betting against Lehman Brothers. Now, some investors are afraid that fund managers like him will take advantage of the climate of fear stirr
News Link •
Global
The big insurance company, the American International Group, was seeking a $40 billion bridge loan Sunday night from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on th
News Link •
Global
Bank of America struck a $50 billion deal yesterday to buy Merrill Lynch, a merger that will unite the nation's largest consumer bank with one of its most celebrated investment banking firms, according to sources familiar with the negotiations.
News Link •
Global
[wanna bet?] The government yesterday said it would not allow Fannie Mae and Freddie Mac to pay their departing chief executives the separation payments, known as "golden parachutes," outlined in their contracts.
News Link •
Global
Barclays, considered the leading contender to buy all or part of Lehman, said Sunday that it could not reach a deal without financial support from the federal government or other banks, making a liquidation more likely.
News Link •
Global
Gas prices are poised to shoot back toward record highs after Hurricane Ike's direct hit to the heart of the nation's oil refineries, analysts said. The average price of gasoline nationwide has already shot up 12 cents in the past two days
News Link •
Global
Germany called on U.S. authorities Saturday to find a solution for crisis-hit bank Lehman Brothers before Asian markets reopen for trading early Monday. U.S. officials have so far talked down a government rescue for the country's fourth-largest i
News Link •
Global
Shares of American International Group, the nation's largest insurance company, plunged yesterday on fresh fears that it will have trouble remaining on firm financial footing as a result of the turmoil in the mortgage market.
News Link •
Global
The White House budget office said yesterday that it has decided not to incorporate mortgage-finance giants Fannie Mae and Freddie Mac into the federal budget, citing the temporary nature of the Treasury Department's takeover and "the level
News Link •
Global
Lehman's shares had slid 41 percent as investors voted with their feet. Lehman's best hope now is an outside buyer: Bank of America and Barclays are interested but only if the U.S. government offers assurances to help shield them from further
Feature Article •
Global
The John McCain/Sarah Palin op-ed in this week's Wall Street Journal illustrates the fallacy of government intervention in personal economic affairs.
News Link •
Global
In Riverside County, total foreclosure-related filings were up 58 percent from a year ago and 39 percent from July, while in San Bernardino County, total filings increased 98 percent from August 2007 and 34 percent from the month before.
News Link •
Global
The Federal Reserve and Treasury Department are actively helping Lehman Brothers put itself up for sale, and officials are hoping a deal will be in place this weekend before the Asian markets open on Monday, according to sources familiar with the mat
News Link •
Global
Commenting on the Fannie and Freddie bail-out he said that he liked the plan [I'll bet] Treasury Secretary Hank Paulson had put in place, because "it lowers mortgage rates and helps support housing prices".
News Link •
Global
In his piece today, Lew Rockwell points out that the F/F bailout simply postpones the inevitable bust, but also ensures that the bust will be more severe in the long run than it would have been had the two faux "mortgage giants" been permit
News Link •
Global
Look quick or you'll miss it.
News Link •
Global
At irregular intervals, the weekend also brings news of the latest installment of the incremental nationalization of the investment markets. Fannie Mae and Freddie Mac were transformed from fascist entities into federally owned socialist organs.
