Mortgage and Financial News From 2008-5-19 Page 3
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Economic Tide Is Rising for Repo Man - New York Times
HARRISON TOWNSHIP, Mich. — So many people have so many things they can no longer afford. This is an excellent time to be a repo man. When a boat owner defaults on his loan, the bank hires Jeff Henderson to seize its property. The former Army ...
2008-05-19 06:29:00 -
Melanie Troxel Wins NHRA Funny Car Race at Bristol (The Auto Channel)
BRISTOL, Tenn., Melanie Troxel completed an incredible turnaround Sunday at Bristol Dragway, winning her first Funny Car round and adding three more in succession to win the Thunder Valley Nationals in a stunning performance during a wet, wild and long day.
2008-05-19 11:27:57 -
President Bush Meets with the Secretary of the Treasury (White House News)
President Bush on Monday said, "Secretary Paulson, thanks for coming. And I just got back from the Middle East, and the Secretary came over to talk about the economy and how he sees it. And we're working through tough times, and I appreciate the leadership you're providing."
2008-05-19 11:42:57 -
Times Are Tough, Except in the Repo Business (New York Times)
The recreational boating industry has faltered amid the housing slump and one of the largest boat repo operations in the country is repossessing nearly a boat a day.
2008-05-19 01:08:15 -
Economy falters, and the repo man gains (International Herald Tribune)
After nearly 20 years in the boat-repossession business, Jeff Henderson has never been busier. "I used to take the weak ones," he said. "Now I'm taking the whole herd."
2008-05-19 01:43:07 -
IBD's Top 10 - Monday (Investor's Business Daily via Yahoo! Finance)
Crude Gains On OPEC Outlook. Crude futures rose 76 cents to a record close of k27.05 a barrel after OPEC President Chakib Khelil said the cartel...
2008-05-19 03:34:55 -
Owner of Bill Blass Faces Cash Shortage After Acquisition (NYTimes.com via Yahoo! Finance)
The fast-growing buyout firm that owns Bill Blass, Athlete’s Foot and Maggie Moo’s appeared to be on the verge of financial collapse on Monday.
2008-05-19 07:37:44 -
Economic Tide Is Rising for Repo Man (NYTimes.com via Yahoo! Finance)
The recreational boating industry has faltered amid the housing slump, leading to a boom in repossessions.
2008-05-19 07:37:46 -
Consumer Confidence - Chicago Tribune
NEW YORK -- Wall Street closed mixed Monday after weakness in the technology sector punctured some of the market's enthusiasm over a report that suggested the economy could still be growing. But comments from memory chip maker SanDisk Corp. about ...
2008-05-19 05:25:00 -
Subprime Losses Top $379 Billion on Balance-Sheet Marks: Table - Bloomberg
May 19 (Bloomberg) -- The following table shows the $379 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 100 of the world's biggest banks and securities firms. The ...
2008-05-19 12:03:00 -
Credit Doctors Dole out Bad Medicine - Wall Street Journal
Thanks to the credit crunch, lenders only have eyes for borrowers with near-perfect credit — and that comes as welcome news to Edward Jamison. A credit-repair expert, Jamison helps improve consumers' credit scores by quickly removing such things as ...
2008-05-19 01:22:00 -
Bunning Blasts Bailout - US News and World Report
Hall of Fame pitcher turned Kentucky senator Jim Bunning threw a high-and-tight fastball at bailout supporters late last week when the Republican delivered a sharp rebuke of the Senate's efforts to pass legislation allowing struggling homeowners to ...
2008-05-19 02:55:00 -
Mortgage debt fears hit banks' shares - Daily Telegraph
Jitters about a potential increase in bad debts also hit other UK banks, including HBOS, owner of Halifax and Bank of Scotland, and Royal Bank of Scotland. The further slide in banking shares came as investors focused on problems that could lie ahead ...
2008-05-19 06:08:00 -
Banks Keep $35 Billion Markdown Off Income Statements (Update1) - Bloomberg
May 19 (Bloomberg) -- Banks and securities firms, reeling from record losses resulting from the collapse of the mortgage securities market, are failing to acknowledge in their income statements at least $35 billion of additional writedowns included ...
2008-05-19 10:08:00 -
Will Bank of England's rescue plan work? - BBC Business
When the Bank of England launched its Special Liquidity Scheme, the Bank and the government had rather different ideas about what would count as a success. Four weeks on, the Bank thinks the £50bn-plus official bank lending scheme has done what it ...
2008-05-19 12:57:00