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Articles posted in the lending category

Must Read: Bailout Cheatsheet – The Trail of Tax Dollars
January 5, 2009 by Alexis has a great outline of where and when money has been allocated for this economic bailout we’re paying for in tax dollars. Check it out here. We’re beginning to wonder what the figures for Citigroup loan-loss backstops and Auto industry energy efficiency loans will look like when all’s said and done. Also, that unknown price tag for money market guarantees is something we're eager to see cleared up. There look to be four different ...
States Struggle to Support Their Unemployed
December 17, 2008 by Alexis
As unemployment rates rise nationally, individual states are now facing the challenge of generating enough funds to pay for jobless benefits. The National Association of State Workforce Agency reported this week there are thirty states across the country turning to the federal government for federal aid to solve a crisis that’s seemingly feeding upon itself – less people in the workforce means less state-generated money, which in turn means less funding for the unemployed. When the economy is going ...
Federal Reserve To Cut Interest Rates to Historic Low
December 16, 2008 by Alexis
The Federal Reserve decided this afternoon to cut a key short-term interest rate to historic lows, making things clear that it will “employ all available tools” in its effort to save the country from its current economic crisis. The Fed announced that it would pull back its target for the federal funds rate to a figure between 0% and .25%, more than .75% lower than the 1% Chairman Ben Bernanke and the Reserve had previously planned to implement. It’s the lowest interest ...
Fannie Mae Foreclosures Won’t Evict Renters – Others Not So Lucky
December 15, 2008 by Alexis
Fannie Mae announced Sunday that renters don’t have to fear eviction if their landlords get foreclosed. The loan association has reworked policies to allow tenants that are up-to-date on their rent to remain in their homes even after the foreclosure is underway. It’s a move that falls in line with Fannie Mae and Freddie Mac’s late November announcement that they would place a holiday moratorium on owner-occupied homes until January 9. Until recently, foreclosures across the country ...
What is a Money Market?
November 12, 2008 by Admin
If you have been following the global economy and its downturn over the last few months, then you have probably heard people talk about a problem with the money market and how this problem is impacting the economy at large. What is a money market and why is it so important? On its most basic level, the money market is where banks and individuals go in order to lend and borrow over the short-term. While there are larger markets ...
Fannie Mae and Freddie Mac in the Financial Crisis
October 1, 2008 by Admin
In September 2008, the Federal Housing Finance Agency (FHFA) announced the federal takeover of mortgage giants Fannie Mae and Freddie Mac. The bailout of the two government sponsored enterprises (GSEs) occurred in the midst of the current credit crisis, further fueling anxiety of the US market as well as concern about the possibility of impending recession. Fannie Mae (Federal National Mortgage Association) was established in 1938, and its brother company Freddie Mac (Federal Home Loan Mortgage Corporation) was founded in 1968. Both ...