Imagine applying for a mortgage in a few years and finding out it works like this: You are offered a standard 30-year fixed-rate loan. The only route to a different mortgage — a riskier one, say, with an adjustable interest rate — is to opt out.
You’d have to say More…
With all the news about partially nationalizing banks, and with the candidates rolling out new economic proposals and facing off in a debate tonight over their prescriptions for the credit crunch, it’s easy to forget that the whole mess still comes down to simple things: A homeowner, and More…
PHILADELPHIA — Following several days of indecision on whether to announce a new set of economic proposals, Sen. John McCain, the GOP presidential nominee, may have been forced into a more proactive role when Sen. Barack Obama unveiled a new economic plan of his own yesterday.
The More…
President George W. Bush, the Treasury Dept., the Federal Reserve and the Federal Deposit Insurance Corp. are all out in force today, as they should be. You own a piece of some of our biggest banks today.
Bush went first, explaining to the American people that Washington will invest More…
If Democratic presidential nominee Sen. Barack Obama’s call for a 90-day moratorium on foreclosures sounds familiar, that’s because his former Democratic rival, Sen. Hillary Rodham Clinton, proposed something similar during their primary fight. And Obama didn’t think it was a good idea at the time.
Politico’s Ben More…
WILMINGTON, N.C. – Sen. John McCain apparently plans to announce new economic proposals tomorrow.
That’s the most recent line coming from his campaign. In a conference call with reporters today, McCain economic adviser Doug Holtz-Eakin said the Arizona senator intends to unveil “specific” measures for stabilizing the economy.
That’s contrary More…
Before Sen. John McCain finished his new stump speech Monday, the Obama campaign had already upbraided the GOP nominee for scuttling plans to outline new economic policies.
“Less than 12 hours after his campaign announced that Sen. McCain would finally have some new
In an interview with ABC’s Charlie Gibson Thursday, Sen. John McCain said his “Homeownership Resurgence Plan” to allow the federal government to buy up bad debt from banks and allow people to refinance mortgages they can no longer pay, may require $300 billion in “new money.”
New More…
Today should be another scary day on Wall Street, but we’ve got bigger problems. Across the board, economists are calling for global action on the credit crisis — and soon. Very soon. Like no later than this weekend.
From Nouriel Roubini, famous for having predicted this whole mess:
Incredibly, Republican presidential nominee Sen. John McCain changed his surprise mortgage plan this week to make it even easier on lenders, Politico noted.
After introducing the idea in Tuesday’s debate, a summary of the proposal on McCain’s Website noted that lenders taking part must recognize the losses they’ve More…
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