Archive for February, 2009
Wednesday, February 25th, 2009
Weekly mortgage applications in the United States declined in the week ending Feb. 20, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported a 15.1% week-over-week decrease in applications. In the previous...(read more)
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Tuesday, February 24th, 2009
Federal authorities do not see any advantage to nationalizing large banks since a return to profitability can be achieved through a combination of strong regulations of how rescue funds are used, and greater transparency on financial institutions, according...(read more)
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Tuesday, February 24th, 2009
House prices unexpectedly advanced in December, according to a report from the Federal Housing and Finance Administration on Tuesday. which noted a 0.1% month-over-month increase in U.S. house prices following a 2.2% decline in November. The report showed...(read more)
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Tuesday, February 24th, 2009
The S&P Case-Shiller home price index fell in line with expectations in December as the 20-city composite index posted a decline of 18.55% to a reading of 139.1. Economists had forecast an 18.30% drop. The three-month annualized rate of decline was...(read more)
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Tuesday, February 24th, 2009
A government takeover of banks would be a " surprising " move given that large U.S. banks are not in danger, FDIC Chairperson Sheila Bair said on Tuesday. Speaking in an interview on the CBS Early Show, Bair admitted that there were ongoing...(read more)
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Monday, February 23rd, 2009
President Barack Obama pledged to cut the fiscal deficit in half by the end of his first term on Monday, and stressed the importance of responsible spending. Speaking at the White House, Obama said there is an immense fiscal deficit challenge that lies...(read more)
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Monday, February 23rd, 2009
Federal Reserve Chairman Ben Bernanke's two-day testimony to the U.S. Senate and the House of Representatives, which begins Tuesday , will be closely-watched for any new revelations on government programs to rescue the U.S. economy. Most economists...(read more)
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Monday, February 23rd, 2009
The U.S. government renewed its pledge to backstop the financial system and work to keep it in private hands as officials prepare to begin stress testing later in the week. "The U.S. government stands firmly behind the banking system during this...(read more)
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Monday, February 23rd, 2009
The Wall Street Journal reports that the U.S. government is in talks to "substantially" expand its ownership in Citigroup . According a story published on Sunday, the U.S. government could end up owning as much as 40% of Citigroup's common...(read more)
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Friday, February 20th, 2009
Following a wave of fear that swept stock markets Friday over the possibility of the U.S. government nationalizing banks, the White House reaffirmed its commitment to a private banking system . Markets took a dive after Senate Banking Committee Chairman...(read more)
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