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Pawlenty blasts Obama on "class warfare"
Jun 07, 2011 13:46 EDT
CHICAGO (Reuters) - White House candidate Tim Pawlenty on Tuesday unveiled a plan he said would supercharge the economy and accused president Barack Obama of championing "class warfare".
Fed balance sheet hits fresh record size
Jun 02, 2011 16:51 EDT
NEW YORK (Reuters) - The Federal Reserve's balance sheet expanded to a record size in the latest week, as the central bank bought more bonds in an effort to support the economy, Fed data released on Thursday showed.
BofA CEO says foreclosure deal will take time
Jun 01, 2011 10:15 EDT
CHARLOTTE, North Carolina (Reuters) - A settlement between a coalition of federal and state agencies and banks over foreclosure practices will take longer to hammer out than many expect, Bank of America Corp Chief Executive Brian Moynihan said on Wednesday.
Fed balance sheet hits another record size
May 26, 2011 16:47 EDT
NEW YORK (Reuters) - The Federal Reserve's balance sheet expanded to a record size in the latest week, as the central bank bought more bonds in an effort to support the economy, Fed data released on Thursday showed.
Fed officials see recovery firm even as gas costs weigh
May 24, 2011 18:04 EDT
CAPE GIRARDEAU, Missouri (Reuters) - Federal Reserve officials on Tuesday expressed confidence in the U.S. economic recovery despite high gas prices and European financial jitters, and one suggested the U.S. central bank could reverse its ultra-loose monetary policy this year.
Fed to widen counterparty list for exit strategy
May 24, 2011 17:23 EDT
NEW YORK (Reuters) - The Federal Reserve is looking to add another group of big players to round out its roster of counterparties that will participate in its exit strategy when it is ready to end its ultra-loose monetary policy.
GOP offers more bills to limit Fannie, Freddie
May 13, 2011 16:02 EDT
WASHINGTON (Reuters) - Republican lawmakers on Friday proposed legislation to keep in place the dividends mortgage finance giants Fannie Mae and Freddie Mac pay the government for taxpayer support, while capping the amount of aid they can get.
Fannie Mae seeks $8.5 billion from taxpayers
May 06, 2011 17:50 EDT
WASHINGTON (Reuters) - Mortgage finance giant Fannie Mae <FNMA.OB> on Friday said it would ask for an additional $8.5 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.
Housing financer Freddie Mac returns to profit
May 04, 2011 18:43 EDT
The US government-controlled housing financer Freddie Mac reported its first quarterly profit in three and a half years Wednesday, after years of losses on its huge mortgage portfolio.
Freddie Mac loses $929 million
May 04, 2011 17:56 EDT
WASHINGTON (Reuters) - Mortgage finance giant Freddie Mac <FMCC.OB> on Wednesday said it lost just short of a billion dollars last quarter, though it did not ask taxpayers for more aid as the loss stemmed from interest payments to the government.
Some signs of life in housing, credit drought goes on
Apr 25, 2011 02:15 EDT
CHICAGO (Reuters) - Like an increasing number of well-heeled Americans, the Hodgsons decided it was time to buy a new home, even if most of the U.S. housing market remains in the dumps.
Don't fall for the 'defensive portfolio' hype
Apr 18, 2011 08:21 EDT
In a stock market decline, investors do not continue to value the earnings of those companies as highly as during an exciting bull market . As the stock market has stalled and moved sideways since mid-February, with economic and inflationary worries increasing, Wall Street is beginning to put out advice on how to prepare for a potential market correction.
BofA profit drops as foreclosure delays hurt bank
Apr 15, 2011 16:55 EDT
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted an unexpectedly sharp drop in first-quarter profit as higher expenses from delayed home foreclosures weighed on its mortgage business.
BofA profit drops as foreclosure delays hurt bank
Apr 15, 2011 16:55 EDT
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted an unexpectedly sharp drop in first-quarter profit as higher expenses from delayed home foreclosures weighed on its mortgage business.
BofA expected to beat Street, but mortgage costs loom
Apr 15, 2011 07:06 EDT
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp is expected to report a 9 percent drop in its first quarter profit, as U.S. consumer lending contracts and the costs for collecting on mortgages continue to rise.
Big banks are government-backed: Fed's Hoenig
Apr 12, 2011 14:21 EDT
CHARLOTTE, North Carolina (Reuters) - Big banks like Bank of America Corp <BAC.N> and Citigroup Inc <C.N> should be reclassified as government-sponsored entities and have their activities restricted, a senior Fed official said on Tuesday.
Analysis: Obama claim shutdown to hit housing may be off mark
Apr 07, 2011 15:56 EDT
WASHINGTON (Reuters) - President Barack Obama's warning that a government shutdown might prevent many Americans from obtaining a mortgage may be more of a negotiating tactic than reality.
Fed's Lacker says must let ailing big firms fail
Apr 07, 2011 08:23 EDT
ROANOKE, Virginia (Reuters) - Large financial firms should be allowed to fail or they will continue to take excess risks that lead to crises, Richmond Federal Reserve President Jeffrey Lacker said on Thursday.
US housing system a bad model: IMF
Apr 06, 2011 13:34 EDT
The International Monetary Fund on Wednesday singled out the United States as a poster child for bad housing policies, calling on Washington to reform for the sake of global financial stability.
IMF urges U.S. budget include Fannie, Freddie costs
Apr 06, 2011 11:10 EDT
WASHINGTON (Reuters) - The United States should include in its budget the cost of mortgage loan guarantees and other housing supports, the International Monetary Fund said on Wednesday in a rare criticism of its biggest shareholder.
