Daily News Channel
Speaking at an annual conference of real estate editors, James Lockhart, head of the Federal Housing Finance Agency, said on Thursday the government shouldn’t run Fannie Mae and Freddie Mac. Lockhart should know. He leads the agency that has been doing just that since last September, when the giant mortgage insurers were put into government conservatorship
Two fishing vessels carrying over 600 people sunk off the coast of Libya on Monday, according to Egyptian state television. It was not clear how many injuries or fatalities resulted from the incident.
Americans don’t favor handing billions more dollars to U.S.
A central Colombian farm worker has been accused of raping his daughter for decades and fathering eight children with her. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government’s bailout strategy for the troubled automaker. “On Friday I was in Washington for a meeting with Administration officials.
General Motors CEO Rick Wagoner announced his resignation early Monday — the latest change for the troubled automaker. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government’s bailout strategy for the troubled automaker. “On Friday I was in Washington for a meeting with Administration officials.
Since the first, dramatic interventions into the financial system by the Treasury Department and the Federal Reserve during the collapse of Bear Stearns a year ago, Timothy Geithner has based his approach on one underlying theory. The crisis, the former New York Fed president and now Treasury Secretary believes, is the result of the collapse of a shadow banking system that grew over the past 30 years to rival the traditional banking system in size but lacked all four of the safeguards that had been imposed after repeated collapses of the traditional system in the early part of the 20th century. Geithner, his predecessor Hank Paulson, FDIC chief Sheila Bair and Fed Chairman Ben Bernanke have so far used ad hoc powers to erect two of those crucial four pillars.
Antiguan and Barbudan regulators Friday took control of U.S.financier Robert Allen Stanford’s financial institutions on the twin-island nation, a day after federal agents served the Texas businessman with papers accusing him of running an investment fraud scheme.
Hundreds of workers from one of Hong Kong’s largest telecommunications companies stormed out of work Tuesday, chanting protests about possible job cuts. An estimated 350 contract workers at PCCW walked off the job for a half-day and staged a protest outside the company headquarters, chanting slogans such as: “We are against pay cuts. We are against layoffs.” Organizers told CNN that PCCW hired about 2,000 to 3,000 workers from other companies and those workers have now been told they face at least a 10 percent salary cut and might lose their jobs