“It doesn’t take a math major to figure out that low margin on low volume means low, low revenue. We’ll see how that further complicates the H&R sale to Cerberus.”
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“The U.S. Federal Reserve is not rushing to cut benchmark interest rates because it wants to break investors of the view that the central bank is there to bail them out, an article in the Wall Street Journal said on Thursday.”
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“The judge stopped short of granting a request by Transland creditors to immediately place the lender into Chapter 11 under the bankruptcy code.”
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“Subprime Hazards Lurk In Special Pipelines Held Off Bank Balance Sheets”
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“Creditors are angry over a request by American Home Mortgage Holdings to keep a recently hired public relations firm on its payroll, accusing the bankrupt Melville lender of trying to put its “best face forward … concerning the failure of the company.”
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“European 10-year bond yields held near a three-month low as an Australian hedge fund filed for bankruptcy protection on losses related to a slump in U.S. home loans, prompting speculation global economic expansion will slow. ”
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” Borrowers hoping to use their biggest asset as a piggybank are in for a rude awakening. Defaults in the home equity sector are on the rise, investors are backing away from second mortgages, and many lenders have stopped offering home equity loans and home equity lines of credit. ”
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“September could be a critical month as bankers attempt to bring risky bond and loan offerings back to the market.”
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“This had nothing to do with terrorism.”
Shares of major U.S. brokerages were set to trade lower Thursday morning with a report from Lehman Brothers serving as the catalyst, as Lehman’s analysts lowered p… More . via Earthlink
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“Freddie Mac, the nation’s second-largest buyer and guarantor of home mortgages, said Thursday its second-quarter profit fell 45 percent as it had to record larger provisions on its books for bad loans”
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