Fannie Mae and Freddie Mac. What cute-sounding names. They suggest adorable siblings, not twin financial disasters that may cost $1 trillion when we get the final bill.
According to Edward Pinto, Fannie Mae’s former chief credit officer, in 2008 the two government-supported mortgage finance companies, along with the Federal Housing Administration [...]
Posts Tagged ‘Global Financial’
Kotlikoff: How to Fix the Mortgage Mess
January 17th, 2011 by Financial Writer
Tags: au, bank, banks, borrow, borrowers, borrowing, business, buyers, Debt, economic, economics, fannie Mae, fed, finance, financial, freddie Mac, glo, Global Financial, government, home prices, housing, interest rate, Invest, investment, investor, investors, lender, lenders, loan, loans, money, mortgage, mortgage applications, mortgage finance, mortgage market, mortgages, oil, president, rate, stock, subprime mortgages, taxpayers, ubs, us, wall street
more...U.S. recovery slowdown a ‘concern’: Carney
November 16th, 2010 by Financial Writer
Bank of Canada governor Mark Carney said Friday the slowdown in the U.S. recovery is of “some concern” to the central bank and whatever unfolds will have a “significant” impact on this country’s economy.
In an interview with U.S. business network CNBC, he said the low level of U.S inflation — due to a debt overhang [...]
Tags: au, bank, banking, ben, borrow, borrowing, business, business network, Canada, central bank, China, crisis, Debt, economic, economic growth, economy, fed, Federal Reserve, financial, financial crisis, financial markets, financial reform, glo, Global Financial, home sales, household, households, housing, increase, inflation, marketplace, monetary, rate, recession, retail sales, sales, united states, us
South Korea’s Industrial Output Rises for 12th Month, Exceeding Forecasts
July 29th, 2010 by Financial Writer
South Korea’s industrial output rose more than forecast in June, expanding for a 12th month, showing resilience to risks from advanced economies and providing more reason to keep raising rates.
Output gained 16.9 percent from a year earlier, after rising a revised 21.7 percent in May, the statistics office said in Gwacheon today. That compared with [...]
Tags: borrowers, consumers, economic growth, economists, Global Financial, global financial crisis, interest rates, South Korean
Global stocks tumble and bunds firm on euro zone fears
May 21st, 2010 by Financial Writer
European stocks fell again on Friday despite German approval of a euro zone rescue package, as markets remained unconvinced the aid would resolve the debt crisis.
The euro, however, found support from short covering.
Wall Street was also set to open lower, after plunging nearly 4 percent in the previous session.
In the general flight to safety bund [...]
Tags: debt crisis, economy, economy recovery, euro zone, financial crisis, financial stocks, financial system, Global Economy, Global Financial, us economy, US Treasuries
Euro crisis: only root-and-branch financial reform can tame the wolf pack
May 15th, 2010 by Financial Writer
Dan Roberts argues that it may be satisfying to turn fire back on the financiers – but indebted countries have never needed them more.
In times of crisis, the complex world of international finance clings to a very old-fashioned store of wealth for reassurance: gold.
The price of this precious metal shot up during the great banking [...]
Tags: banks, economic recovery, euro zone, european central bank, financial, financial markets, financial reform, Global Financial, IMF, investors, recovery economy, stock market
IMF says global economy to grow 4.2 pct this year
April 22nd, 2010 by Financial Writer
WASHINGTON — The International Monetary Fund said Wednesday that the global economy, after enduring a crippling recession, should see better-than-expected growth this year, led by strength in China and other developing nations.
In an updated economic outlook, the IMF forecast that the world economy would expand 4.2 percent this year, faster than its previous projection and [...]
Tags: economy recovery, Federal Reserve, financial, financial crisis, Global Economy, Global Financial, Global Recession, us economy, us treasury
US extends guarantees on Fannie, Freddie through 2012
December 26th, 2009 by Financial Writer
The US Treasury said Thursday it would extend guarantees to Fannie Mae and Freddie Mac through 2012 to allow the government-sponsored mortgage finance giants to weather any new crisis.
A new, amended agreement lifts a cap of 200 billion dollars in aid that can be pumped into each of the two firms, and gives the government [...]
Tags: fannie Mae, freddie Mac, Global Financial, housing, mortgage finance