KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Archive for the ‘Global Economy’ Category
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
more...China reduces US Treasury debt holdings in May
July 16th, 2010 by Financial Writer
China reduced its holdings of U.S. Treasury debt in May as total foreign holdings of government debt posted a slight increase.
China’s holdings fell by $32.5 billion to $867.7 billion, the Treasury reported Friday. Total foreign holdings edged up $5.8 billion to $3.96 trillion.
The drop in China’s holdings and the weak showing overall was a surprise. [...]
Tags: China, economic, economists, european economy, financial crisis, interest rates, investors, us treasury
Treasury Two-Year Yield Drops to Record Low on Slowdown Concern
July 15th, 2010 by Financial Writer
Treasury two-year note yields dropped to a record low after reports showed a gauge of New York manufacturing trailed economists’ estimates and production at U.S. manufacturers declined.
Yields on two-year notes, the most sensitive to changes in Federal Reserve policy, fell to 0.5767 percent, below the previous record of 0.5856 percent reached on June 30. Bank [...]
Tags: bank of america, economists, Federal Reserve, financial system, interest rates, us, us economic, us economy, us manufactured, us stocks, us treasury
Bailed-out small US banks face takeover risk -panel
July 14th, 2010 by Financial Writer
Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency warned on Wednesday.
In its latest critique of the Treasury Department’s handling of the Troubled Asset Relief Program, or TARP, the Congressional Oversight Panel said smaller banks [...]
Tags: banks, commercial real estate, economic, financial crisis, real estate investment, taxpayers, us, us economic, us government, us treasury, wall street
European economy slowed by sovereign debt, banking crises
July 13th, 2010 by Financial Writer
Speaking to reporters at the end of last week, the head of the European Central Bank (ECB), Jean-Claude Trichet, sought to play down speculation on the possibility of the euro-zone entering a new recession.
“We are in a situation,” he said, “where a number of facts and figures and data are not, I would say, confirming [...]
Tags: economic growth, economists, economy recovery, euro zone, european economy, financial crisis, IMF, interest rates, loans, money, us economic, world economic
Slow growth of UK economy is likely to be as good as it gets
July 12th, 2010 by Financial Writer
Official figures show recession was deeper than believed and double-dip downturn is a real threat
On the face of it, today’s official bulletin on the state of the economy was a bit of a damp squib. The delay in publishing the third estimate of growth in the first three months of 2010 had raised speculation that [...]
Tags: bank of england, consumer spending, economists, european union, financial system, inflation, interest rates, recession, uk economy, unemployment
Wholesale Inventories Rise
July 9th, 2010 by Financial Writer
Inventories of U.S. wholesalers rose in May as warehouses were restocked with machinery and other durable goods, while sales registered their first decline in 14 months.
Wholesale inventories rose 0.5% to a seasonally adjusted $398.81 billion, after increasing by a downwardly revised 0.2% during April, the Commerce Department said Friday. Originally, April inventories were estimated to [...]
Tags: business, commerce department, economic, financial system, inventory, us economic, us manufactured, us stocks, wall street, wholesale
Europe presents main threat to global recovery, IMF says
July 8th, 2010 by Financial Writer
Europe’s weakened economy is now the central threat to global recovery, as its countries struggle with heavy debt, banks face a reckoning over their lack of capital and growth is slowing, the International Monetary Fund said Wednesday in its first assessment of the world economy since a crisis over government borrowing in Greece.
While the agency [...]
Tags: bank of england, economic growth, european central bank, european economy, financial crisis, global financial markets, global recovery, IMF, interest rates, world economic
U.S. Retailers’ Sales Rise at Fastest Pace in 4 Years
July 7th, 2010 by Financial Writer
U.S. retailers’ sales are growing at the fastest pace in four years, a sign consumers may be overcoming concern about unemployment and depressed home values.
Sales probably expanded at an average monthly rate of 4 percent in the first five months of the retail fiscal year that began Jan. 31, the biggest gain since 2006, the [...]
Tags: consumers, economist, financial system, investors, stock market, unemployment, us economy, us stocks
Wall Street Traders Return and Start Buying
July 6th, 2010 by Financial Writer
Traders returned to Wall Street on Tuesday from a long holiday weekend and promptly began to buy.
Shares in Europe and Asia were also higher as investors tried to recover losses that piled up after a string of disappointing economic reports.
The jump as investors looked past a report that growth in services businesses slowed last month. [...]
Tags: bank of england, bank stock, businesses, consumer spending, Dow Jones Industrial, economic growth, economic reports, economists, european central bank, investors, Nasdaq composite, wall street, world economic
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