Latest News in Home Insurance – Sep 22, 2008
Takeovers of AIG, Fannie and Freddie raise business and political … – Los …
21 Sep 2008 at 4:58pm
By agreeing to bail out insurance giant American International Group Inc. and mortgage lenders Fannie Mae and Freddie Mac, the federal government has put itself in the unprecedented position of running huge private companies. In the case of American …
U.S. Widens Scope of Bad-Debt Plan Beyond Home Loans (Update1) – Bloomberg
22 Sep 2008 at 3:28am
Sept. 22 (Bloomberg) — The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities. The U.S. Treasury submitted revised guidance to Congress on its plan …
U.S. Treasury Widens Scope of Bad-Debt Plan Beyond Home Loans – Bloomberg
21 Sep 2008 at 9:23pm
Sept. 22 (Bloomberg) — The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities. The U.S. Treasury submitted revised guidance to Congress on its plan …
AIG collapse would have cost N.C. taxpayers $1B – Triangle Business Journal
21 Sep 2008 at 8:26pm
RALEIGH – If insurance colossus American International Group and its subsidiaries had been allowed to fail by the federal government, North Carolina regulators – and ultimately state taxpayers – would have been left with a mess that would have …
Insurance market gets secure for storms – Myrtle Beach Online
21 Sep 2008 at 8:33pm
Without good fortune, a hurricane the size of Hurricane Ike might one day rake North Carolina’s coast, causing billions of dollars in property losses like those incurred by Texas. Whether North Carolina’s insurance market will be ready to pay the …
A Failure To Learn From The Past – Forbes
18 Sep 2008 at 5:59pm
After perhaps the most tumultuous week in the financial markets in living memory, the question on everyone’s mind is whether this turn of events was inevitable. In order to answer this question fairly, one has to avoid making the common mistake of …
Administration and Fed move to deal with crisis – Miami Herald
22 Sep 2008 at 3:14am
The Bush administration and the Federal Reserve are moving on multiple fronts in an effort to calm financial markets that have been roiled by the biggest upheavals on Wall Street since the Great Depression. Another seismic shift occurred late Sunday …
Corporate bankruptcies rise, more on way – Reuters
20 Sep 2008 at 5:57pm
NEW YORK (Reuters) – U.S. corporate bankruptcies have soared this year and more are on the way, highlighting a historic and pivotal year for those in the restructuring industry. Virtually no segment of the U.S. economy has been safe from a rolling …
Bailouts are common, but risk doesn’t always pay off – Detroit Free Press
22 Sep 2008 at 3:43am
The stock market plummets, investors pull out money and loans dry up, triggering global financial turmoil. Enter the government, buying up bad mortgages and other problem assets. This scenario from the 1930s sounds eerily current, in part because the …
Big Financiers Start Lobbying for Wider Aid – The Ledger
22 Sep 2008 at 3:50am
Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. Financial firms were lobbying to have all manner of troubled investments covered, not just those …
