Mortgage and Financial News From 2008-3-18 Page 9
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Lehman, Goldman beat earnings estimates
MSNBC - Goldman also recorded about $1 billion of net losses on residential mortgage loans and securities, as well as net losses of $1 billion on higher-risk corporate loans and the declining value of its investments.
2008-03-18 07:47:00 -
Bear bailout can't save shareholders
CNN Money - The Fed's guarantee of possibly toxic mortgage loans on Bear's books shows that officials are willing to take the risk of saddling taxpayers with billions of dollars in obligations in the name of keeping the banking system running.
2008-03-18 08:16:00 -
Goldman Sachs: $1.5B profit half last year's take
CNN Money - The firm's net losses on residential mortgage loans and securities totaled approximately $1 billion as the crisis that began in the subprime sector last year spread to borrowers of better credit backgrounds, said Chief Financial Officer David Viniar ...
2008-03-18 09:56:00 -
Goldman earnings fall by half, yet beat views
Forbes - Goldman also recorded about $1 billion of net losses on residential mortgage loans and securities, as well as net losses of $1 billion on leveraged loans.
2008-03-18 07:47:00 -
Goldman Soars on Earnings Beat (TheStreet.com)
The New York bank's strong quarter, while off vs. the year-ago period, soothed investors.
2008-03-18 10:19:30 -
Some Wall St banks seen riskier than poor countries (EARTHtimes.org)
LONDON (Reuters) - Turmoil and uncertainty over some of Wall Street's best-known investment banks has left some facing rougher market conditions that price them as riskier than developing countries or banks in volatile areas of the world.
2008-03-18 10:21:12 -
Editor's view: Ombudsman o'clock for mortgage market (Money Marketing Online)
Tick. Tock. It’s ombudsman o’clock for the mortgage market. The principal ombudsman Tony Boorman is making noises that sound very like he is envisaging a new ombudsman-led review of the mortgage market. ...
2008-03-18 10:23:31 -
Lehman Net Income Declines 57%, Less Than Estimated (Update5) (Bloomberg.com)
March 18 (Bloomberg) -- Lehman Brothers Holdings Inc. , the fourth-biggest U.S. securities firm, reported earnings that beat analysts' estimates and reassured shareholders that it has more than enough capital to survive.
2008-03-18 10:25:31 -
All eyes fixed on Federal Reserve (WTOL 11 Toledo)
Federal Reserve Chairman Ben Bernanke and his colleagues have already been working overtime, employing a variety of novel approaches to keep the economy out of a recession or at least moderate the impact of any downturn.
2008-03-18 10:28:30 -
Northern Rock Cuts Third of Workforce, Home Lending (Update4) (Bloomberg.com)
March 18 (Bloomberg) -- Northern Rock Plc, the bank that got a 25 billion-pound ($50 billion) bailout from the British government, will cut about a third of its 6,000-strong workforce and reduce mortgage lending to help repay state loans.
2008-03-18 10:30:34 -
Saint-Gobain to Grant Wendel Board Seats, People Say (Update3) (Bloomberg.com)
March 18 (Bloomberg) -- Cie. de Saint-Gobain SA , Europe's largest provider of construction materials, plans to grant three board seats to buyout firm Wendel, its biggest shareholder, said four people directly involved in the talks.
2008-03-18 10:32:05 -
You've been reading the newspaper again, haven't you? I warned you about that.... (San Francisco Chronicle)
You've been reading the newspaper again, haven't you? I warned you about that. Also, you've been listening to those cable news programs, or checking in with NPR, yes? I knew it. And now you are in despair. You think you are entirely screwed. And you're right....
2008-03-18 10:34:09 -
Fed poised to cut rates aggressively as it combats weak economy (Reporter-Times)
The Federal Reserve is expected to aggressively lower interest rates in its intensified battle against the credit crisis and spreading economic weakness. The question is whether all of the effort will turn the tide.
2008-03-18 10:37:04 -
Mortgage Web Site
Colleyville Courier - ... the BEST loan and LOWEST rate for your purchase or refinance transaction!! http://www.realcities.com/ Professional Mortgage $150,000 Loan for $391/month - Refinance, Home Equity and Purchase. Historic Low Rates From ... Mortgage Rates at 4.9% Fixed APR ...
2008-03-16 12:04:00 -
Washington tries to stop bleeding
Cincinnati Enquirer - ... as a full percentage point, to 2 percent, which would put that rate at the lowest it has been since late 2004. Because that rate affects a wide range of rates ... financial institutions, which racked up huge losses from soured investments in mortgage ...
2008-03-18 08:23:00