loan trade business

The Credit Crisis: How We Got Here
Sometimes it is worth tacking a look at how we got into this mess in the first place. Reuters has a great recap in the video below. It began with a US housing problem that has quickly mushroomed into a crisis. In this video, Reuters explains how banks begin to tighten credit when a high percentage of subprime mortgages started to become overdue. The loan problem escalated and subprime lender New Century filed bankruptcy. These losses spread to larger banks that have had to write off billions of dollars of debt. Today, the credit problems have not gone away. Home prices are still dropping and inflation is a serious problem. The weakening economy is starting to impact growth and job creation. There are worldwide concerns that the U.S. will fall into a recession and this recessio nwill drag the global economy down with it.Direct video linkPermalink | Recent Headlines | WWFeeds.com

Bush Says Administration Will Expand Mortgage-Relief (Update1) - Bloomberg
NECNBush Says Administration Will Expand Mortgage-Relief Update1Bloomberg - 19 hours agoBy David Scheer March 29 Bloomberg -- President George W. Bush said the government will expand efforts to help homeowners avoid foreclosure as Democrats increase pressure on his administration to reduce unaffordable home-loan payments.Bush may expand help for struggling homeowners ReutersCongress poised to tackle tricky mortgage crisis NewsdayImperial Valley News - Voice of America - The Associated Press - Philadelphia Inquirerall 515 news articles

Markets React to Bear Sterns, Weekend Fed Action
JP Morgan Chase has snatched up Bear Sterns in a rapid transaction for a huge discount of $2 a share. JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. for $240 million, about 90 percent less than its value last week, after a run on the company ended 85 years of independence for Wall Streets fifth-largest securities firm.Shareholders of Bear Stearns will get stock in JPMorgan equivalent to about $2 a share, compared with $30 at the close on March 14, the New York-based companies said in a statement late yesterday. The Federal Reserve is providing financial backing to JPMorgan, the second-biggest U.S. bank, and also cut the rate on direct loans to banks in its first emergency weekend action in almost three decades to stave off a broader market panic. The Fed also moved in with a rare weekend move and dropped the emergency lending rate a quarter of a point. President Bush also weighed in predicting a turnaround. President Bush rushed to strike a note of calm to the turbulent situation on Monday morning, hailing the Feds action and saying: Weve taken strong decisive action. The president spoke after meeting at the White House with Treasury Secretary Henry Paulson and other members of his economic team. Were in challenging times, Bush said.Despite all the action to help prevent losses stocks are still in negative territory again today. The Financial Times says investors are waiting for the next domino to fall.Permalink | Recent Headlines | WWFeeds.com

Lehman to sue over Japan fraud BBC News
Boston GlobeLehman to sue over Japan 'fraud'BBC News - 7 hours agoLehman Brothers, one of America's largest investment banks, plans to sue a Japanese trading house, saying it has been the victim of a complex fraud.Lehman to Sue Japan's Marubeni, Claiming Loan Fraud Update1 BloombergMarubeni employees' scam hit Lehman, others: sources ReutersInternational Herald Tribune - RTT News - BloggingStocks - Canada Eastall 231 news articles