Archive for the ‘foreclosure’ Tag

Last week’s financial picture

  posted Feb 25, 2009 by Lamar Thames

For the week ending Feb. 20, 2009:

  • Obama administration moves to halt foreclosures
  • Fed sets inflation target, cuts growth forecast
  • GM, Chrysler ask for more funds
  • BOJ expands asset-purchase program

    • Stocks fell around the world this week as investors remained skeptical of the U.S. government’s effort to bail out the financial sector. The Dow Jones Industrial Average fell to a six-year low on Thursday, while Japan’s Topix stock index tumbled to its lowest level in 25 years. As the selling ensued, Treasuries rallied, and gold rose above $1,000 per ounce.

    U.S. economic news Obama administration takes aggressive stance to hall foreclosures
    U.S. President Barack Obama pledged $275 billion for a program to cut mortgage payments for struggling homeowners and expand the role of Fannie Mae and Freddie Mac in curbing Read the rest of this entry »

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