webmaster @ September 30, 2008 # No Comment Yet
The critical part of the bailout is the price the government pays for the trash assets it buys from banks. In short, if the government pays too much, the taxpayers will get hosed.
So it is interesting to note the difference between the price the government is proposing to pay and the price one of the [...]
webmaster @ September 28, 2008 # No Comment Yet
By Lori Montgomery and Paul Kane
Washington Post Staff Writers Sunday, September 28, 2008; 12:47 AM
Congressional leaders and the Bush administration last night struck a historic accord to insert the government deeply into the nation’s financial markets, agreeing to spend up to $700 billion to relieve Wall Street of troubled assets backed [...]
webmaster @ September 26, 2008 # No Comment Yet
It’s a scary time for bank customers. But most accounts are safe. Here’s what you need to know.
By CNNMoney.com staff
Washington Mutual, once the nation’s largest thrift and rocked by bad lending on real estate, had been reportedly teetering on failure. On Thursday regulators seized the bank and arranged a takeover by JPMorgan Chase.
And experts and [...]
webmaster @ September 23, 2008 # No Comment Yet
THE LOCAL outsourcing operations of troubled US insurance firm American International Group (AIG) and financial giant JPMorgan Chase & Co. will continue expanding here despite mounting concerns of a slump in the world’s largest economy.
AIG-Business Processing Services, Inc. (BPSI), which has operations in the Philippines handling all customer service requirements of its parent, said it [...]