Archive for November, 2008
Tuesday, November 25th, 2008
House prices declined 1.3% over the month of September, following August's downwardly revised -0.8% figure, according to the monthly house price index from the Federal Housing Finance Agency (FHFA) , released Tuesday. The consensus had been looking...(read more)
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Tuesday, November 25th, 2008
The government announced Tuesday it will spend $600 billion to take on the obligations of Fannie Mae, Freddie Mac and Ginnie Mae in order to reduce borrowing costs for the government-sponsored enterprises (GSEs). Agency debt has always carried an implicit...(read more)
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Monday, November 24th, 2008
Yet another special interest group is lining up to ask for a share of the seemingly bottomless Washington cornucopia according to an article Monday morning in The Wall Street Journal. The National Association of Homebuilders (NAHB) is ramping up a campaign...(read more)
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Monday, November 24th, 2008
Existing home sales fell more than expected to an annualized pace of 4.98 million units in October, a 3.1% decline over the month, following September's downwardly revised sales pace of 5.14 million units, according to the National Association of...(read more)
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Friday, November 21st, 2008
President-elect Barack Obama's transition team has announced that he will present his new economic team to the public on Monday. The media has all but confirmed that the new Secretary of the Treasury will be Timothy F. Geithner , president and chief...(read more)
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Friday, November 21st, 2008
There's growing support from a variety of sources for President-elect Barack Obama to appoint the Federal Deposit Insurance Corporation chairwoman Sheila Bair to succeed Henry Paulson as Secretary of the Treasury. Bair, a 54-year old Republican with...(read more)
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Friday, November 21st, 2008
In the absence of any major macroeconomic data on Friday, central bankers take the spotlight with comments from ECB President Jean-Claude Trichet, FOMC voting member Charles Plosser, and non-voters Jeffrey Lacker and Charles Evans. Also scheduled to speak...(read more)
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Friday, November 21st, 2008
Richmond Federal Reserve President Jeffrey Lacke r said it is too soon to tell when spending in the United States will revive, but monetary policy is "quite stimulative" and the economy may regain positive momentum in 2009, he said. Speaking...(read more)
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Thursday, November 20th, 2008
Citigroup is reportedly considering a merger with financial institutions Goldman Sachs or Morgan Stanley , according to a CNBC report. Citigroup's stock is rising in after hours trading, up $0.26 to $4.97, but earlier today the stock closed down sharply...(read more)
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Thursday, November 20th, 2008
Mortgage finance giants Fannie Mae and Freddie Mac revealed Thursday afternoon they will work to keep Americans in their homes, announcing a suspension on foreclosures starting Nov. 26, 2008 until Jan. 9, 2009. The two companies said no evictions will...(read more)
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