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The missing parts to get Detroit roadworthy again
President Bush saved thousands of jobs in the U.S. automobile industry last week when he agreed to provide General Motors and Chrysler with $13.4 billion from the Troubled Asset Relief Program. The low-interest loans will keep the two manufacturers from...Tags: Career and Workplace, Employees, Freddie Mac, Fannie Mae, Automotive Equipment
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Rx for our financial crisis
Call it "a bailout in every pot": Having poured money into storied Wall Street institutions and major banks, the federal government is considering more aid for homeowners who are defaulting on their mortgages, along with billions in loans to help two U.S....Tags: Financial Markets, Politics, Freddie Mac, Financial and Business Services, Fannie Mae
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Citigroup loses nearly $10 billion
Los Angeles Times Staff WritersThe sub-prime mortgage crisis hit Wall Street with full fury Tuesday as Citigroup Inc. reported a nearly $10-billion fourth-quarter loss, and both Citigroup and Merrill Lynch & Co. got cash infusions to shore up their financial stability. Citigroup...Tags: Management Change, Companies and Corporations, Kuwait, Earnings Forecasts, Layoffs and Downsizing
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Sub-prime subplots
BY NOW, MOST OF US know that sub-prime mortgages are hurting many homeowners. But economists have warned that they could have repercussions for the broader economy too. Those warnings came to life this month when two hedge funds run by the Wall Street...Tags: Money and Monetary Policy, Stock Broking, Homes, Stock Activities, Bonds
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Mortgage relief plan advances
Los Angeles Times Staff WritersSenate Democratic and Republican leaders reached agreement Wednesday on a multibillion-dollar package to address rampant foreclosures and other problems stemming from what may be the worst housing slump since the Great Depression. The compromise measure,...Tags: Barney Frank, Defense, Tax Credits, Veterans Affairs, Homes
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AOL looks for a Bebo bump
Los Angeles Times Staff WriterAOL has a new buddy: Bebo. After several months of negotiation, Time Warner Inc.'s AOL agreed Thursday to buy the social networking site for $850 million, part of its bold strategy to grab a greater share of online advertising. Analysts say it's a...Tags: AOL LLC, Companies and Corporations, Mergers, Acquisitions and Takeovers, Sociology, MySpace
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Relief or a raw deal?
Today, Leonard and Thornberg debate the extent to which the government should facilitate loan modifications to prevent foreclosures. Previously, they discussed the public's reluctance to support federal assistance for troubled borrowers and regulating...Tags: Interior Policy, Politics, Federal Reserve, Financial and Business Services, HSBC Holdings plc
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A new Great Depression? It's different this time
Los Angeles Times Staff WriterDysfunctional capital markets, frantic central banks, stressed-out consumers, fear and uncertainty -- all are alarming echoes of the global economic cataclysm of the 1930s. Which raises the inevitable question: Could another Great Depression be lurking...Tags: Central Bank, University of California, Berkeley, Unemployment, Banking, History
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Wall Street bailout?
Thornberg and Green conclude this week's Dust-Up with a debate on the recent Bear Stearns deal. Previously, they discussed the public's reluctance to support federal assistance to borrowers, payday lender regulation and to what extent the government...Tags: Investment Service, Federal Reserve, Banking, Wages and Pensions, Freddie Mac
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First Mariner's Hale retires
Edwin F. Hale Sr., the Baltimore trucking magnate and developer, said Friday that he has retired as chief executive and chairman of First Mariner Bancorp — the banking company he built, only to scramble in the housing market collapse and recession...Tags: Companies and Corporations, Wilmington Trust Company, Services and Shopping, Corporate Officers, Mercantile Bankshares Corp.
Feb 1, 2012
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Dec 23, 2008
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Oct 31, 2008
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Apr 10, 2008
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Dec 23, 2011
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