Farmers Fear Immigrant Help Will Be Hard to Find read more...
S&P's gloomier mortgage view puts more pressure bond insurers (Market Watch) Standard & Poor?s darker outlook for the mortgage market is adding to problems in the bond insurance industry.
Where's the Froth? Luxury Sellers Cut Prices An advertisement for a travel-industry software firm claims the company's technology is responsible for pricing 600 trillion trips every day.read more...
Bank bailout bill passes 2nd reading The relief mechanism would not intervene unless these ill-fated banks failed to improve their financial conditions within the grace period, Kong said.via
Commerzbank Earnings Drop 18 Percent "These results strengthen our confidence in exceeding our target returns for 2007, although it is clearly premature to make a projection for the entire year based on the first quarter
Housing Starts Rebound Slightly, Building Permits Hit Nine-Year Low Construction on new homes improved in November rising 6.7% after a whopping 14% drop in October, the Commerce Department reported Tuesday. The continuing decline in permits is a sign of
“The effect of these reserving and impairment activities on our capital position will be more than offset by the successful completion of our capital plan, which will increase our capital position by well over $2 billion”
MBIA Inc. reported write-downs of $3.5 billion on souring credit derivatives in the fourth quarter Thursday, raising the possibility that the world’s largest bond insurer could lose its top credit rating.
Continued weakness in the bond insurance market may put struggling banks in a precarious position. Banks, which have reduced portfolio values by more $140 billion during the second half of 2007 in a deteriorating mortgage market, might be forced to take further write-downs tied to bonds insured by companies like MBIA. Read more
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