Mortgage and Financial News From 2008-9-30 Page 19

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• Dexia receives €6.4bn capital injection - Financial Times

  Troubled French-Belgian lender Dexia will get a €6.4m cash injection from governments and stakeholders in the third major continental European bank rescue in less than two days. The Belgian government announced early on Tuesday that the state and ...
  2008-09-30 12:13:00

• White House, lawmakers to seek new bailout deal - CNBC

  WASHINGTON - Top congressional and White House officials, stunned when the House rejected a massive rescue plan for the nation's economy, scrambled to structure a new bailout proposal that would attract reluctant lawmakers and still soothe the ...
  2008-09-30 12:13:00

• PMI Mortgage exits XOL - Global Reinsurance Online

  PMI Group said that its primary mortgage insurance company, PMI Mortgage Insurance Co will terminate all of its existing excess-of-loss ("XOL") reinsurance arrangements with lender affiliated captive reinsurers. On that date, in-force XOL contracts ...
  2008-09-28 05:55:00

• Tuesday's news and tips (Investors Chronicle)

  ■ BSkyB is in the spotlight again today as media regulator Ofcom has said it will seek opinions on whether the pay-TV operator has too much control over live sport and first-run films.
  2008-09-30 01:46:47

• National City Corp., other shares tumble (Louisville Courier-Journal)

  National City Corp. shares plummeted yesterday as bank stocks tumbled amid another bank buyout and the overall market plunged after a financial bailout package failed in the House.
  2008-09-30 01:47:05

• Credit squeeze tightens for area small business (Worcester Telegram & Gazette)

  Small- and medium-sized companies dependent upon credit and raising capital to stay in business and grow will have an increasingly tough time staying afloat as banks tighten credit, say business development professionals.
  2008-09-30 01:47:09

• Every sector feels pain (Toronto Star)

  North American stock markets plummeted yesterday after the United States House of Representatives rejected a $700 billion (U.S.) bailout plan for Wall Street while the financial crisis stiffened its stranglehold on global banks.
  2008-09-30 01:47:40

• Credit unions attract new deposits (Santa Cruz Sentinel)

  Wachovia customer Branna Banks voted with her feet. Standing in line at Washington Mutual on Friday, the day after the giant thrift collapsed due to bad mortgages and was sold to JPMorgan Chase, she overheard three women talking.
  2008-09-30 01:49:22

• Citigroup gets Wachovia (The Washington Times)

  In the continuing upheaval of the financial industry, Citigroup, the nation's largest bank, paid $2.1 billion in stock Monday to acquire Wachovia Corp., whose share price has been collapsing following the bursting of the housing bubble.
  2008-09-30 01:52:32

• AIG's Japan unit gets capital for stock price fall (AP via Yahoo! Finance)

  A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen in additional funds to bolster its financial strength, the company said Tuesday.
  2008-09-30 01:53:07

• U.S. now has three superbanks (The News & Observer)

  Consumers' fees might increase.
  2008-09-30 01:54:27

• City renters could be next victims of mortgage mess - New York Daily News

  An increasing number of apartment complexes face possible foreclosure and thousands of city renters could be the next victims of the mortgage crisis, housing advocates warn. At least 580 buildings, containing 40,000 units, have one or more factors ...
  2008-09-29 03:37:00

• Experts expect difficult times - Lexington Herald-Leader

  If there is no bailout to rescue investors and mortgage lenders, stock prices and consumer spending will drop, and interest rates and unemployment will rise for the next year or so. "We are going to be faced with a period in which we have slow or ...
  2008-09-29 10:40:00

• State must do its part in this crisis - Hollister Free Lance

  California is at the forefront of exotic home loans, the resulting mortgage crisis and ripple effects on unemployment and slowed consumer spending... Reckless lending and lax oversight of state-regulated mortgage brokers and lenders helped get us ...
  2008-09-29 04:20:00

• Commentary: Bankruptcy, not bailout, is the right answer - CNN

  Editor's note: Jeffrey A. Miron is senior lecturer in economics at Harvard University. A Libertarian, he was one of 166 academic economists who signed a letter to congressional leaders last week opposing the government bailout plan. Economist Jeffrey ...
  2008-09-29 04:13:00

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