*Circumspect on implications of China, Greece troubles. SYDNEY, July 7- Australia's central bank held interest rates at record lows on Tuesday as sliding commodity prices, a still-high currency and mounting economic uncertainty in China argue for continued stimulus, and even the chance of more cuts. He also declined to go into detail on the implications of...» Read More
A story is circulating in the LA media today about a Wells Fargo executive, Cheronda Guyton, who allegedly moved into a foreclosed property being held by the bank and threw lavish parties there...What is this, Risky Business 2?
Failure to address the underlying weaknesses in the banking system and some shortcomings in the package of regulatory reforms for the financial sector could result in a crisis relapse in the next few years.
One year after Lehman Brothers’ failure, former employees remain haunted and confounded by the event. “It wasn't Lehman's employees who failed; it was the leadership,” says one ex- senior manager.
Treasury Secretary Timothy Geithner offered a spirited defense of the government's efforts to forestall another Great Depression but cautioned that the recovery would be slow and painful.
I was fighting traffic on my way in to work today, when I heard a headline on the radio, something to the effect of, "Good news on the housing front! Foreclosures are moderating, potentially signaling an end to the housing crisis." This is why people don't trust the news. Headlines.
The Bank of England is expected to hold interest rates at record lows and continue with its program to boost the money supply on Thursday despite growing signs of an economic recovery.
The House passed it, the Senate defeated it, but you had to know the idea of bankruptcy judges getting into the business of mortgage modifications would not go gently into that good night. Today the Treasury Department released its latest progress report for the Home Affordable Modification Program (a.k.a. the housing bailout).
Experts predict a steady drumbeat of defaults over much of the next decade as interest-only loans mature. Auctioned off at low prices, those foreclosed houses could help brake any revival in home prices.
China will continue to grow as the crisis has forced it to shift from an export-led economy to one which bases its development on domestic consumption, Jim O'Neill, head of global economic research at Goldman Sachs, told CNBC Wednesday.
The dollar will continue to drift but it doesn't face the risk of a free-fall, while healthcare stocks will rebound once the dispute over healthcare reform is settled, Robert Doll, BlackRock vice-chairman, told CNBC Wednesday.
The credit ratings industry will be forced to create a more accurate and transparent market to better meet the needs of the investing community, Sean Egan, president and cofounder of Egan-Jones Ratings Company, told CNBC.
As foreclosures continue to rise, there's been a lot of talk lately about how well-capitalized the FHA is to handle defaults on all the loans it backs. The FHA, which doesn't make loans itself, estimates it will insure over $400 billion in loans just this year.
The collapse of Fannie Mae and Freddie Mac one year ago was the result of bad government policy that took too long be corrected, Jim Lockhart, the GSE's former regulator, told CNBC.
Acting FHFA director Edward Demarco seems, at face value, to be a quiet, intelligent, unassuming guy. He prefers to be called Ed, and this morning he did his first live television interview with me on CNBC. But don't let the demeanor fool you.
The current market rally is based on temporary measures and could evaporate once government stimulus has run its course, Pimco's Mohamed El-Erian told CNBC.
The International Monetary Fund has revised up its forecast for economic growth this year and next in major industrialised economies and worldwide, according to a document obtained by Reuters on Friday.
The rush to buy gold and the rise in the bond market witnessed this week are not reassuring for investors, as they indicate fears of future troubles in the economy, Dennis Gartman, author of The Gartman Letter, told CNBC Friday.
The US nonfarm payrolls number later on Friday will likely make or break the stock market's timid attempts at a rebound after declines in the first days of this month, but predictions for the volatile figure are as far apart as ever.
Dallas Federal Reserve Bank President Richard Fisher on Thursday gave a muted outlook for the U.S. economy, saying a long period of slow growth lies ahead even when the recession ends.
Mortgage rates are kept low by Fed intervention, which is due to end soon. So unless that program is extended, mortgage rates will start rising again.