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Economic Memo: Credit Enters a Lockdown Without a mechanism to shed the bad loans on their books, financial institutions and lenders may continue to hoard their dollars and starve the economy of capital. The New York TimesWashington Mutual Collapses The battered savings and loan company Washington Mutual has become the latest casualty of the subprime mortgage disaster. Regulators say the bank fell over the edge because in the past week or so more and more customers began pulling their deposits out. NPRWall Street Bailout Could Crimp CEO Pay Democrats want to rein in rich exit packages and reclaim millions paid to bosses who piled up toxic mortgage assets. But it won't be easy BusinessWeekFirst Marblehead shares continue to slide (AP) Shares of First Marblehead Corp. continued to slide Friday as an analyst removed his 'Sell' rating on the stock, but said the student-loan services provider faces a tough economic environment in which to restructure its flagging business and conserve cash. yahoo.comWaMu may file for bankruptcy shortly: Merrill Lynch (Reuters) - Washington Mutual may file for bankruptcy shortly, said Merrill Lynch analyst Kenneth Bruce terminating coverage of the stock. The top U.S. savings and loan bank, whose market value has been virtually wiped out because of soaring mortgage losses, was closed by regulators on Thursday, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. The company witnessed $16.7 billion in deposit outflows from September 15 to September 24, ReutersFreddie Mortgage Portfolio Dropped Before Takeover NEW YORK (Reuters via COMTEX) -- Freddie Mac, the second-largest provider of funding for U.S. mortgages, on Friday said its investment portfolio fell sharply in August prior to its takeover by the U.S.... Hispanic BusinessWashington Mutual Woes May Tilt Bailout Decision Banking giant Washington Mutual has collapsed under the weight of bad home loans. What impact will this failure have on the debate over a bailout of the financial system? NPRWashington Mutual: Questions and answers Posted: 1:30 PM- JPMorgan Chase & Co. purchased Washington Mutual on Thursday for $1.9 billion after the Federal Deposit Insurance Corp. took over the failed savings and loan. The Salt Lake TribuneWaMu no more, but Utahns say with JPMorgan taking over they aren`t worried Posted: 12:17 PM- It's business as usual today for Utah customers of failed savings and loan Washington Mutual, thanks to an agreement to sell the company's assets to JPMorgan Chase & Co. for $1.9 billion. The Salt Lake TribuneRegulator sells Washington Mutual The mortgage lender Washington Mutual becomes the biggest US bank to fail and is sold to JPMorgan Chase. BBC1 2 3 4 5 |
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Feedzilla is a news aggregator which categorizes news stories by topic. It is a platform where webmasters and bloggers can find an unmatched selection of easy to use, automatically updating and professional news widgets for their sites. Feedzilla supports the building of widgets in various formats, as well as allowing the addition of news widgets to different blogging platforms and social networks.
Feedzilla manually aggregates news summaries found in RSS feeds, and redistributes them in either RSS format or as a news widget. Content is collected 24 hours a day, 7 days a week from an ever-growing list of providers.
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9th of September 2009 - Interview of Feedzilla's founder at the IFA in Berlin. [More]