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MORTGAGE MELTDOWN
- Prudent lending can avert Subprime 2.0
It is obvious that weak lending standards, serving the political interest of affordable housing, were the main reason for the mortgage melt...
- Morgan Stanley sells Russian mortgage unit
Morgan Stanley sold its Russian mortgage unit, one of the country's leading mortgage operators, to Russian Orient Express bank, the Russian...
- Goldman CEO, executives face US Congress
The CEO of Goldman Sachs and other executives from the Wall Street powerhouse are coming before Congress 10 days after the government accus...
- Goldman planned to profit from bust: Senate probe
Goldman Sachs developed a strategy to profit from the housing meltdown and reaped billions at the expense of clients, a Senate investigatio...
- Bernanke says he erred in gauging mortgage fallout
Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from ...
- Beaten down, US consumers burrow deeper
Americans have trimmed their spending in Sep by largest amount in 4 years. Stocks 52 Week: High | Only: Buyers, Sellers | BSE Gainers: A, B...
- European stocks pause for breath at open
European stock markets held steady at the opening of trade on Tuesday following surges the day before caused by the US bailout of former mo...
- US expected to detail Fannie Mae, Freddie Mae bailout
US Treasury Secretary Henry Paulson is expected to detail the government's plan to take over struggling mortgage giants Fannie Mae and Fred...
- Fed gives home buyers protection against shady lending practices
For Roxanna Evans, the Federal Reserve's new rules to crack down on abusive lending practices, approved Monday, came too late.
- Fed adopts plan to curb shady mortgage practices
Lenders worry the new rules are too tough, could limit mortgage options.
- 2 former Bear Stearns managers hit with first criminal charges
Two former Bear Stearns hedge fund managers were hauled into jail and charged with lying to investors about the collapse of the US subprime...
- Fed to auction another $25 billion in Treasury securities this week
The Federal Reserve announced on Wednesday that it will auction an additional $25 billion in super-safe Treasury securities to big investme...
- US govt must do more to avert meltdown: Volcker
The US government needs to play a larger role in restoring confidence to financial markets on the verge of a meltdown instead of leaving su...
- Rate cut: Good feelings may recede as fast as they rolled in
Homeowners opening up statements for their adjustable-rate mortgages come October will experience a jolt when the rates jump.
- Subprime woes cost Infosys prime client
Yet another casualty of the US subprime crash in the Indian BPO sector is Infosys BPO, which has lost a prime client, Green-Point Mortgage.
- US mortgage lender sacks all employees
First Magnus Financial Corp has laid off 99 per cent of its nearly 6,000 employees nationwide.
- iGATE posts Rs 23 cr 4th quarter net
iGATE Global Solutions, the Bangalore-based mid-tier IT services company has reported a net profit of Rs 22.6 crore, on a consolidated basi...