Mortgage and Financial News From 2007-12-21 Page 01

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  • A not-so-merry Christmas from Bill Gross

    Salon - ... at any particular point in time, the Fed is too eager to ease interest rates and ... It's not easy, given the lack of good financial data, to compare the 19th century U ... After the subprime mortgage fiasco, Citibank has turned to Vikram Pandit as its new ...
    2007-12-20 03:56:00
  • Goldman Awards Blankfein a Record $67.9 Million Bonus for 2007

    Bloomberg - Goldman shattered Wall Street profit records for the fourth-consecutive year even as rivals such as Morgan Stanley and Merrill Lynch & Co. suffered mortgage-related losses. Goldman set aside $20.2 billion to pay employee salaries, benefits and ...
    2007-12-21 02:29:00
  • Nils Pratley: Viewpoint

    Guardian Unlimited - The latter, aside from blowing a few billion at home in the sub-prime mortgage crisis, finds that the outposts of its empire regularly enrage local regulators. Why follow those footsteps? Barclays has yet to reveal its own sub-prime related pain. All ...
    2007-12-21 08:27:00
  • Lombard buys United Home Loans

    New Zealand Herald - NZX-listed financial services provider Lombard Group said yesterday its subsidiary Lombard Mortgages had bought United Home Loans from Hanover Group for an undisclosed sum. The buy included United Home Loans' $230 million mortgage book. Combined with ...
    2007-12-21 09:17:00
  • Goldman Sachs CEO Lloyd Blankfein taking home $68.5M in pay

    CNBC - In a year where most investment banks lost billions of dollars on bad bets in the mortgage industry, Goldman Sachs Group Inc.'s chief executive, Lloyd Blankfein, still managed to take home $68.5 million in total compensation _ a record for an ...
    2007-12-21 02:58:00
  • SEC investigating Washington Mutual's handling of mortgage loans, home appraisals; stock falls (Minneapolis-St. Paul Star Tribune)

    The Securities and Exchange Commission is probing how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals.
    2007-12-21 09:01:20
  • Euro, pound slip against US dollar

    CNBC - Any slowdown would crimp the European Central Bank's ability to raise interest rates from their current 4 percent. Meanwhile, the pound has slipped on this week's release of minutes from the Bank of England's latest interest rate meeting, which showed ...
    2007-12-20 07:35:00
  • Blame to spare on foreclosures

    Rapid City Journal - Hope Now is the home credit industry’s self-imposed plan, brokered by the Bush Administration, to freeze interest rates on ... There’s plenty of blame to go around in the current home foreclosure crisis. Too many homebuyers don’t bother to ...
    2007-12-21 10:00:00
  • Dollar continues rise in Europe

    CNBC - Any economic slowdown would crimp the European Central Bank's ability to raise interest rates from their current 4 percent. Meanwhile, on Thursday, the U.S. Commerce Department confirmed its estimate last month that gross domestic product grew at 4.9 ...
    2007-12-20 01:48:00
  • US consumer spending surges in November, reducing fears of imminent ...

    International Herald Tribune - ... at Standard & Poor's in New York, said he now believed the economy would grow at around a 1.5 percent rate in the current ... Fed officials worried about rising inflation may be less inclined to cut interest rates, the normal medicine for a slowing ...
    2007-12-21 07:23:00
  • Fitch Rates Talbot County, Maryland's $25MM GO Public Improvement ...

    Forbes - The current capital investments in the school system and the commitment to ... Unemployment rates have been at or below state and national levels since at least ... Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall ...
    2007-12-21 11:52:00
  • Fitch Rates Washington $921MM GO Bonds 'AA'; Outlook Positive

    Forbes - Unemployment rates have been falling on both an absolute and relative basis; the ... Revenue growth for the current biennium is forecast at 1.5% in fiscal 2008 and 3.8 ... Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall ...
    2007-12-21 12:35:00
  • ECB drains more cash to steady short-term rates

    New Straits Times - For its latest cash withdrawal operation, the ECB set a fixed rate of 4.0 percent, the same level as its benchmark lending rate, a move designed to "align short-term interest rates with the minimum bid rate," a bank statement said. The operation would ...
    2007-12-21 04:24:00
  • Bank of Japan could cut rates in 2008, but effects likely limited (Market Watch)

    Japan’s benchmark interest rate is already close to the bone, but with the world's second-largest economy facing a slowdown, some analysts are pondering whether the Bank of Japan might cut rates even lower in 2008 -- and whether doing so would have much effect on growth or currency markets.
    2007-12-21 12:49:33
  • Central Bank Will Continue Gradually Reducing Interest Rates Depending On Developments And Figures, Giorgianni (TurkishPress.com)

    ANKARA - Lorenzo Giorgianni, International Monetary Fund (IMF) Mission Chief for Turkey said the Central Bank would continue the process of gradually reducing the interest rates -- which it started in September-- depending on developments and figures.
    2007-12-21 01:52:46