President Bush said he is confident that Congress and the administration will be able to approve a stimulus package to jump-start the economy and calm fears of recession that have shaken financial markets worldwide.
The turmoil in the mortgage markets has incited a wave of legal tangles, as homeowners are suing lenders, lenders are suing banks, banks are suing loan specialists. And investors are suing everyone.
Agreement between the White House and Congress that the stumbling U.S. economy needs help was a big first step but it was clear Saturday there was room for sparring over crafting a rescue package.
Senator Hillary Rodham Clinton won the vote in the Nevada Democratic caucuses on Saturday, giving her a second consecutive victory in what is shaping up as a protracted battle with Senator Barack Obama.
With his victory in South Carolina on Saturday, Senator John McCain of Arizona has accomplished what no other Republican presidential candidate has been able to do this year: he has captured two competitive contests. Not incidentally, this one was in the state that effectively sank his campaign in 2000.
Washington has its plan to boost the economy, and the Mad Money host has his.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The convincing victory by Mitt Romney in the Michigan primary on Tuesday means three very different states — with dissimilar electorates driven by distinctive sets of priorities — have embraced three separate candidates in search of someone who can lead the party into a tough election and beyond President Bush.
U.S. President George W. Bush said on Tuesday oil prices were "very high" and tough for theU.S. economy to bear.
STANDISH, Mich. — This quiet town, tucked between the thumb and the rest of the fingers in Michigan’s mitten, feels worlds away from the struggling automobile factories of Flint and Detroit. But economic gloom has made its way here just as it has seeped through so much of this state.
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As we spend the end of the year debating the merits of the various plans to save the subprime borrower, I need to add a dose of reality to the Realty Check: On December 6th, when President Bush announced the brand new Paulson Plan to freeze certain subprime mortgages at their “teaser” rates, a little factoid got lost in the shuffle, and the trouble with this factoid is that it’s not exactly a fact.
With an approval rating stuck in the 30s, President Bush no longer holds many political cards. But he still has one ace in the form of his veto pen. That's a substantial weapon--as President Bill Clinton showed against the Republican Congress in 1996 and Bush is showing against the Democratic Congress now.
While the Bush mortgage plan reduces uncertainty short term, it has created considerable debate about the long-term implications, particularly for buyers of mortgage-backed securities. Recognizing that buyers of ARM securities were anticipating receiving a higher yield (and many now will not), Raymond James noted that...
Call it what you want: a bailout, a subprime freeze plan, or government intervention. Whatever it is or becomes, a lot of you wrote in with your opinions on the Bush/Paulson mortgage "plan." Most of what you said, to state what may be obvious, was this idea pretty much "stinks." If I had to guess, I'd say the ratio of negative to positive emails was 30 to 1, and that's being conservative.
Today we saw a fine display of presidential leadership on an economic problem--the kind we would have expected from President Bill Clinton, not President George W. Bush. Yes, the administration is avoiding the "b" word, as in "bailout." And yes, in theory the new mortgage terms for homeowners facing upward resets represent a "voluntary" agreement by their creditors.
The House of Representatives Thursday passed an energy bill that would boost vehicle fuel economy requirements by 40 percent by 2020, raise ethanol use by five-fold by 2022 and impose $13 billion in new taxes on big oil and gas companies.
Well. We haven't seen this kind of ideological food fight in a long time. The battle among traders about whether President Bush's plan is a rational response to the crisis or an unconscionable bailout is really beside the point. The central problem is that freezing adjustable mortgage rates is not a long-term solution to even the ARM problem.
Hundreds of thousands of strapped homeowners could get some relief from a plan to freeze interest rates on subprime mortgages.
I was reading the report from the Mortgage Bankers Association this morning on delinquencies and foreclosures. None of it was particularly unexpected, but I was struck by one aspect, and that is the amount of prime loans that are going into foreclosure.
I want to thank President Bush for clearing up a few things this morning at his news conference: 1) that the mortgage industry is, “a more complex industry than we’ve had in the past” and 2) that “we shouldn’t bail out lenders, and so, in other words, that we shouldn’t be using taxpayers’ money…”