Mortgage and Financial News From 2008-1-11 Page 67

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• A Better Bernanke Take - Trading Markets (press release)

  A Better Bernanke TakeTrading Markets (press release), CA - 1 hour agoNotably, the demand for housing seems to have weakened further, in part reflecting the ongoing problems in mortgage markets. ...
  2008-01-11 04:22:44

• New Airline Consolidation - Wall Street Journal

  New Airline ConsolidationWall Street Journal - 1 hour agoMeanwhile, another financial firm suffering from the mortgage mess, Countrywide Financial, seems to have worked out a rescue. Bank of America this morning ...
  2008-01-11 04:23:22

• FIRE SALES of US Financial Assets - Fingers of Instability, Part 16 - The Market Oracle

  FIRE SALES of US Financial Assets - Fingers of Instability, Part 16The Market Oracle, UK - 57 minutes agoI too read that article and was shocked by the same revelation: That many CDO's were constructed with CREDIT DEFAULT SWAPS rather than hold real mortgages ...
  2008-01-11 04:35:52

• Bank of America to buy Countrywide for $4 billion - Guardian Unlimited

  Bank of America to buy Countrywide for $4 billionGuardian Unlimited, UK - 47 minutes agoNEW YORK, Jan 11 (Reuters) - Bank of America Corp said on Friday it agreed to acquire Countrywide Financial Corp, the largest US mortgage lender, ...
  2008-01-11 04:45:59

• Beam me down please, Scottie - Sydney Morning Herald

  Beam me down please, ScottieSydney Morning Herald, Australia - 35 minutes agoIn fact the subprime market had begun to show signs of real trouble in late 2006 with the collapse of a small Californian mortgage lender. ...
  2008-01-11 04:58:15

• Westpac, St George cry me too in rate-rise rush - Sydney Morning Herald

  Westpac, St George cry me too in rate-rise rushSydney Morning Herald, Australia - 30 minutes agoAlso yesterday RAMS Home Loans, the Australian credit crisis flame-out of last year, has provided the first rated issue of mortgage-backed securities this ...
  2008-01-11 05:03:21

• Bank of America to buy Countrywide Financial - MarketWatch

  Bank of America to buy Countrywide FinancialMarketWatch - 29 minutes agoBut we don't know how long the mortgage downturn will last and how bad the mortgage losses will ultimately be." Countrywide has been hit hard by surging ...
  2008-01-11 05:04:22

• Bankruptcy up despite good times - The Age

  Bankruptcy up despite good timesThe Age, Australia - 26 minutes agoIt said that these included people taking on excessive credit card or mortgage debt, as well as financial stress due to loss of jobs or the break-up of a ...
  2008-01-11 05:07:07

• Red Tide A-risin’ - The People's Voice

  Red Tide A-risin’The People's Voice, TN - 22 minutes agoIf an Old World liberal saw Man as being basically good, the opposing view, of course, saw Man as being basically bad, and therefore, the latter view ...
  2008-01-11 05:11:00

• Banks raise interest charges - The Australian

  Banks raise interest chargesThe Australian, Australia - 17 minutes ago"With interest rate rises working their way through the system, bad debts seem likely to rise further and notwithstanding mortgage repricing we see ...
  2008-01-11 05:16:39

• Prices up from safety bid on bank concerns - Guardian Unlimited

  Prices up from safety bid on bank concernsGuardian Unlimited, UK - 12 minutes agoNEW YORK, Jan 11 (Reuters) - US government bond prices for short maturities rose on Friday on renewed worries about banks' exposure to bad mortgage ...
  2008-01-11 05:21:24

• Bank of America to buy Countrywide - FinancialWeek (subscription)

  Bank of America to buy CountrywideFinancialWeek (subscription), NY - 6 minutes ago(Bloomberg) —Bank of America will purchase Countrywide Financial, five months after investing $2 billion in the unprofitable US mortgage company. ...
  2008-01-11 05:27:16

• Amex, Capital One to miss EPS views on card losses (Reuters via Yahoo! News)

  American Express Co and Capital One Financial Corp , the largest independent U.S. credit card companies, projected profits below analyst forecasts on Thursday, citing mounting consumer loan losses as the U.S. economy slows.
  2008-01-11 04:12:10

• Citi, Merrill on Hunt for More Capital (IWon - Money)

  NEW YORK (AP) — Two of the biggest names on Wall Street are scrambling again to secure major cash infusions from foreign governments to offset billions of dollars in losses from risky subprime mortgage securities, analysts said on Thursday.
  2008-01-11 04:17:03

• Capitol One's earnings lower than expected (Honolulu Advertiser)

  Capital One Financial Corp. said its 2007 earnings will fall short of its previous expectations, sending its stock to a new 52-week low and reaffirming the fact that turmoil in the nation's credit markets continues.
  2008-01-11 04:24:39

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