Headline News Archive

2008

October

07

• Fears of recession deepen as markets plunge. The collapse of stock markets worldwide Monday reflects deepening concerns that government intervention won't be enough to stave off a potentially severe global recession. "Recession

06

• Dollar has surprising strength in weak economy. Stock markets are swooning, credit markets remain frozen, and some foreign officials are predicting that the United States will lose its status as a financial

• Countrywide borrowers to get mortgage aid. An estimated 125,000 Californians who are struggling with risky mortgages from Countrywide Financial Corp. may get their loans modified and payments reduced under a program to

• Wells Fargo, Citigroup in tug of war over Wachovia. Wachovia and Citigroup lawyers spent the weekend in state and federal courts, sparring about Wachovia's decision Friday to break off its engagement with Citigroup after

• Economy: One hurdle down, many more to go. The extraordinary $700 billion financial rescue plan that President Bush signed into law Friday will begin the process of healing a battered financial system. But it's

05

• $10.1-trillion national debt? Let's cut taxes!. Even before the current financial crisis, a federal budget deficit of nearly $500 billion was projected for next year. Now an additional $700 billion has been committed

04

• Rescue sweetened with tax incentives. The House of Representatives yesterday approved $107 billion in tax breaks for businesses and consumers as part of a sweeping financial rescue package designed to stave

• New law seeks to limit executive compensation. In the first significant attempt by Congress to legislate executive pay, the $700 billion financial rescue plan signed into law yesterday includes efforts to rein in

• What the FHA needs to get the job done. In the current credit squeeze, if you have less than a 20 percent down payment, there's pretty much only one major source of mortgage financing available:

03

• California may need emergency $7 billion loan. California may need an emergency loan of up to $7 billion from the federal government within weeks, the Los Angeles Times on Friday quoted Gov. Arnold

• Rescue package may not thaw credit markets. As hopes rise for congressional passage today of a massive rescue plan for the U.S. financial system, many financial experts are already wondering: What

• Wells Fargo to acquire Wachovia. In an abrupt change of course, Wachovia Corp. said today it agreed to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, wiping

• Jobs report underlines economic decline. The government is out with more bad economic news this morning: The job market began to deteriorate even before the financial crisis reached a more

02

• The credit crunch spreads. The credit crunch hit 2640 Merchant Drive in Baltimore in September when Drew Greenblatt asked his bank for a $175,000 increase in the line of credit for

• FHA program for struggling homeowners. The Bush administration rolled out a program yesterday that aims to help thousands of struggling borrowers refinance into more affordable, government-backed mortgages and thus provide

• Road map to weather rocky times. In the 1950 movie "All About Eve," actress Bette Davis slyly uttered a memorable line: "Fasten your seat belts. It's going to be a bumpy night."

• No silver bullets here. To hear it from critics on the left and right, the Bush administration and legislative leaders were in such a rush to pass a "$700 billion

01

• La economía familiar y la crisis. Muchos norteamericanos están observando nerviosamente los grandes altibajos de la Bolsa de Nueva York tratando de detectar indicios del colapso de Wall Street, pero

• La otra cara del desastre. Algunos expertos en el mercado de la vivienda se atreven a afirmar que la actual crisis, junto a todas sus serias inconveniencias, puede traer ciertos

September

30

• Rechazan el plan de rescate financiero. La Cámara de Representantes de Estados Unidos rechazó el lunes en votación una iniciativa para destinar 700.000 millones de dólares al rescate del

29

• Bailout plan's effect not expected to be swift. The tentative agreement Sunday on a $700-billion financial system rescue package would provide a badly needed psychological boost on Wall Street but wouldn't be an

• Bailout bill to go to House. Saying the nation's economy is on the line, congressional leaders are pushing for a vote today on a $700-billion plan to end the financial system's

• Economy: Poll finds Americans gloomier, for now. As people on Wall Street and Main Street hold their breath to see if a federal bailout of the nation's financial institutions will work, Americans

27

• Two families find a little change can save a lot. Bruce and Jennifer Pivnick slashed their insurance costs without reducing their coverage. Mitzi and Jimmie Walker discovered that food cooked at home tastes as good

26

• SEC admits its lax oversight fueled collapse. The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall