mobile alabama: Mortgage rates plummetting thanks to the Federal Reserve today... - 12/16/08 01:33 PM
Press Release
Release Date: December 16, 2008
For immediate release
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that … (1 comments)
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mobile alabama: With the news that the Fed will be buying huge amounts of... - 11/25/08 09:18 AM
mortgage backed securities, you can look for substantially lower rates. This is the move that may really spur home sales. Here is the press release from the Fed...
Press Release
Release Date: November 25, 2008
For release at 8:15 a.m. EST
The Federal Reserve announced on Tuesday … (1 comments)
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mobile alabama: Here we go again...again... - 10/21/08 09:19 AM
It had been a few days without a day new Fed funding facility ... From the Fed: Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF) The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a … (3 comments)
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mobile alabama: Helping high school kids become financially educated... - 10/20/08 05:56 PM
Since this credit crisis, I have thought what we need is more education regarding financial matters. We, at the Manders Group, have decided that we would like to help high school kids in our area, state and region become more financially educated. We are donating a $200 scholarship to the "Secure … (37 comments)
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mobile alabama: Mortgage rates since the bailout and why... - 10/17/08 01:47 PM
When the U.S. government first took conservatorship of Fannie and Freddie, rates started to plummet as bond purchasors decided that with the "implicit" guarantee for mortgage backed securities they would receive a better yield than comparable treasuries. This was true and investors flocked into MBS's, driving rates on a 30-year fixed … (2 comments)
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mobile alabama: Joint press release from the Treasury, Federal Reserve and FDIC... - 10/14/08 07:51 AM
Here is the latest announcement from the Treasury, Federal Reserve and FDIC...
Joint Press Release
Board of Governors of the Federal Reserve SystemU.S. Department of the TreasuryFederal Deposit Insurance CorporationFor release at 8:30 a.m. EDT October 14, 2008
Joint Statement by Treasury, Federal Reserve, and FDIC
Washington, DC-- The … (4 comments)
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mobile alabama: Fed works in concert with other Central Banks to ease rates... - 10/08/08 06:23 AM
Press Release
Release Date: October 8, 2008
For release at 7:00 a.m. EDT
Joint Statement by Central Banks
Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial … (3 comments)
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mobile alabama: Fed to buy Commercial Paper... - 10/07/08 08:40 AM
Press Release
Release Date: October 7, 2008
For release at 9:00 a.m. EDT
The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve's existing credit facilities to help provide liquidity to term funding markets. The … (2 comments)
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mobile alabama: Statement from Bernanke on bailout passage... - 10/03/08 01:06 PM
Press Release
Release Date: October 3, 2008
For immediate release
I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted … (5 comments)
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mobile alabama: FDIC could now have unlimited access to the Treasury... - 10/01/08 11:37 AM
From the WSJ: Revised Bill Lets FDIC Borrow Without Limits
The Senate financial market rescue bill would temporarily allow the Federal Deposit Insurance Corp. to borrow unlimited amounts of money from the Treasury Department in connection with the larger government deposit coverage that would extend until the end of next year.This … (3 comments)
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mobile alabama: Foreign leaders demanding bailout passage... - 10/01/08 08:15 AM
I never thought I would see the United States being led around by our nose by leaders of foreign governments because WE owed them so much money, but it has happened. I am concerned about the signal being sent...
From Bloomberg:
"European Central Bank President Jean- Claude Trichet said U.S. lawmakers … (0 comments)
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mobile alabama: Citi buys Wachovia retail banking operations... - 09/29/08 07:26 AM
Breaking News!
From NY Times blog:
"Citi assumes Wachovia banking operations for $1 a share, a move that that would concentrate power within the nation's banking industry in the hands of a few giant lenders, The New York Times's Eric Dash and Andrew Ross Sorkin reported Monday morning.
The Federal Deposit … (10 comments)
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mobile alabama: Goodbye Wachovia... - 09/28/08 06:25 PM
From the NY Times: Citigroup and Wells Fargo Said to Be Bidding for Wachovia
Citigroup and Wells Fargo were locked in a bidding war on Sunday over a possible emergency takeover of the Wachovia Corporation ... The government, led by the Federal Reserve and Treasury Department, has been involved in the … (7 comments)
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mobile alabama: Link for the draft of bailout bill... - 09/28/08 04:02 PM
Alright guys, who is man/woman enough to read this article in its entirety? I have linked the pdf version and it is 106 pages. Good luck and please report back with Cliff Notes...
The Troubled Assets are initially limited to commercial and residential mortgages and instruments based on them. The Treasury … (1 comments)
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mobile alabama: Deal reached on bailout bill... - 09/28/08 03:45 PM
There seems to be a deal reached on the bailout bill. The House Republicans were conspicuously missing from the press conferences early this morning, but many people associated think this deal can get done...
From the NY Times: Breakthrough Reached in Negotiations on Bailout
Congressional leaders and the Bush administration reached … (0 comments)
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mobile alabama: FDIC to seize WAMU and sell deposits to JPMorgan Chase... - 09/25/08 07:40 PM
Another wild night in the financial markets...
CNBC reports: FDIC to Seize WaMu and Sell Deposits to JPMorgan The Federal Deposit Insurance Corp will seize Washington Mutual and sell its deposits to JPMorgan Chase for an undisclosed sum, CNBC has learned. The deal is expected to be announced during a Thursday … (1 comments)
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mobile alabama: Bernanke testimony before Congress today... - 09/24/08 09:47 AM
Here is the transcript of the speech Chairman Bernanke will give to Congress this afternoon. It was made public just a few minutes ago...
Testimony
Chairman Ben S. Bernanke
Economic outlook
Before the Joint Economic Committee, U.S. Congress
September 24, 2008
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Chairman Schumer, Vice Chair Maloney, Representative Saxton, and other … (2 comments)
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mobile alabama: Testimony from Bernanke on U.S. Financial Markets... - 09/23/08 07:01 AM
This is a very interesting read just made public. This is the speech Chairman Bernanke will give before the Committee on Banking, Housing and Urban Affairs...
The entire speech:
Chairman Ben S. Bernanke
U.S. financial markets
Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
September 23, 2008
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… (3 comments)
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mobile alabama: Goldman Sachs and Morgan Stanley abandon investment banking model... - 09/22/08 05:06 AM
they have petitioned the Fed to become bank holding companies which will oversee their balance sheets and give them limits on leverage and access to the discount window.
From the Fed press release:
Release Date: September 21, 2008
For release at 9:30 p.m. EDT
The Federal Reserve Board on … (3 comments)
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mobile alabama: Bailout proposal... - 09/20/08 02:27 PM
LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITYTO PURCHASE MORTGAGE-RELATED ASSETSSection 1. Short Title.This Act may be cited as ____________________.Sec. 2. Purchases of Mortgage-Related Assets.(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from … (3 comments)
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