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Business News tagged with banking

Wachovia Sends $150 Million To Victims Of Telemarketing Fraud
Business  (tags: consumers, dishonesty, telemarketing, fraud, Wachovia, reimbursements, settlement, banking )

Summer
- 328 days ago - money.cnn.com
Wachovia Corp. (WB) has begun to reimburse victims of a telemarketing fraud as part of its April settlement with U.S. banking regulators, mailing nearly 750, 000 checks totaling more than $150 million to the victims.
1 comment
Cutting: Will It Ease the Pain?
Business  (tags: Wall Street, Federal Reserve, interest rate, Dow Jones, Bank of America, economic crisis, banking )

RC
- 398 days ago - washingtonpost.com
Chairman of the Federal Reserve Ben Bernanke says the economic outlook is growing worse. On Wall Street: a 330-point slide in the Dow Jones Industrials. Bank of America lost 18% of its value today. Will a cut in the interest rate stem the flow of red ink?
33 comments
Bush Rushes to Sign Bailout - Now His Business Pals' Butts Are Covered
Business  (tags: Bush, bailout, banking, money, legislation )

RC
- 402 days ago - money.cnn.com
Unreal...he already put an X on the line...
52 comments
Ctigroup Take Over of Wachovia
Business  (tags: banking, economy, finance, investments, money, consumers )

Joan
- 406 days ago - cbs3.com
citigroup takes over //WACHOVIA BANK
12 comments
Politically-Unaffiliated Economists Repudiate Paulson's Plan - 200 Sign Petition Against It
Business  (tags: bailout, academic economists, Paulson, banking )

RC
- 410 days ago - washingtonpost.com
This doesn't surprise me, since the plan is clearly geared toward saving the cronies and donors of politicos. But it's good to know what these academic economists object to.
17 comments
Government Seizes Fannie, Freddie Mac
Business  (tags: US Treasury Department, Fannie Mae, mortgages, banking, Hnery Paulson, Freddie Mac )

RC
- 428 days ago - nytimes.com
The US Treasury Department has taken over the quasi-public Fannie Mae & Freddie Mac mortgage lenders. Treasury Secretary Henry Paulson has fired the heads of both companies & put in hand-picked replacements. He said a "rescue plan" will be implemented.
39 comments
Credit Sinkhole : Citigroup Posted a $5.1-Billion Loss and Announced 9000 Layoffs.
Business  (tags: Citibank, Citigroup, loans, credit crisis, layoffs, jobs, jobs lost, emerging trends, banks, banking, investments )

Blue
- 569 days ago - thecurrent.theatlantic.com
Analysts call it a "kitchen sink quarter." Companies in shell-shocked industries write down everything that even looks like it might go wrong, clearing the balance sheet for future growth.
3 comments
Bear Stearns Buy-Out... 100% Fraud
Business  (tags: banking, banks, Bear Stearns, Buy Bout, JP Morgan, fraud )

Ben
- 570 days ago - optionsforemployees.com
This article is about how the Bear Stearns collapse was artificially created so insiders could get massively short prior and how J.P. Morgan would in effect be paid $55 Billion of US tax payer money to shore up themselves to buy Bear Stearns.
1 comment
Panic Selling Shuts £2bn Fund
Business  (tags: housing, property, investors, banking, crash, financial, dollar, currency )


- 659 days ago - guardian.co.uk
One of Britain's biggest property funds was forced to shut its doors to withdrawals yesterday after the slump in commercial prices triggered panic selling by small investors.
1 comment
Buddy, Can You Spare a Billion?
Business  (tags: finance, banking )

Ralph
- 663 days ago - nytimes.com
First hard-pressed Wall Street banks turned to rich foreign governments for help. Now, they are seeking aid from the likes of New Jersey and big mutual funds to bolster their weakened finances.
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Citigroup Loss Raises Anxiety Over Economy
Business  (tags: money, finance, banking )

Ralph
- 663 days ago - nytimes.com
Citigroup, the nation's largest bank, reported a staggering fourth-quarter loss of $9.83 billion on Tuesday and issued a sobering forecast that the housing market and the broader economy still had not bottomed out.
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Tony Blair Joins Investment Bank
Business  (tags: corporate, economy, banking )


- 669 days ago - news.bbc.co.uk
It is not known how much JPMorgan will pay him, but some estimates say more than $1m (£500,000) a year. The bank said he had a "unique perspective".
1 comment
JPM and BAC to Write Down $3 Billion in Loans:
Business  (tags: americans, banking, business, economy, money )

Sue
- 763 days ago - today.reuters.com
Mason estimated Bank of America will take write-downs of $700 million for leveraged loans and mortgage write-downs of $300 million, the paper said. Other banks have already taken losses
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Foreclosure Crises Worsens - Record Number of Foreclosures In August
Business  (tags: real estate, foreclosure, mortgage, money, bank, banking, home, economy, consumers, SustainableDevelopment, economy, banking )

David
- 765 days ago - davickservices.com
August 2007 U.S. Foreclosure Market Report, shows a total of 243,947 foreclosure filings were reported during the month, up 36 percent from the previous month and up 115 percent from August 2006. One of 165 Households Foreclosed In Nevada; Other States...
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Is Ben Up to the Job?
Business  (tags: marketing, market, consumers, corporation, business, banking, ethics, money, government, economy )

TW
- 766 days ago - forbes.com
the markets that during the next 12 to 18 months the Fed will begin to soak up the excess money it created in 2004--05. Otherwise, we'll be facing a debilitating currency crisis. A government that looks as if it won't protect the integrity of its currency
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