| Best not to stand in the way of gold
Sometimes the scale of the losses is difficult to comprehend. Presumably the banks do have the collateral of the actual property to fall back on, and this is after years of sharply rising values, despite the recent falls in the US housing market. Only a small percentage of the last few years of lending should be in trouble from a valuation point of view, previous lending should still be covered. The problem seems to have been exacerbated by the packaging up of various separate pieces of each mortgage exposure to be sold on as a type of sliding scale of credit risk. The most vulnerable, and therefore generally highest return, is the actual interest payment segment of a mortgage and it is this bit that the banks seem to have been singularly unsuccessful in selling off to 'less' alert investors.
Governor not fazed by banquet hall critics
Bredesen said he felt "disappointed" over Ramsey's comments, saying the lieutenant governor had sat with him in the governor's conference room and discussed the project's financing. He said Ramsey knew the project involved both public and private funds, and that costs had gone up. "I thought he was more of a stand-up guy than he proved to be on that one,'' the governor said, adding that he would find something else they could work together on. The foundation, which Conte chairs, has raised about $8 million for mansion renovation and expansion project. Taxpayers will have to pick up the rest of the $19.2 million cost. Mansion renovations are almost completed and blasting could start later this month on the underground hall.
.
Experian offers credit freeze facility from November 1
Consumer credit reporting bureau Experian has announced that it will be offering its customers in 50 states and the District of Columbia, the chance to freeze their credit histories starting November 1. Experian is the second firm after TransUnion to offer consumers the option of freezing their credit histories. By freezing histories, consumers can block access to their reports by new creditors. The company said that it would be charging $10 every time a consumer wants to freeze his/her history temporarily or permanently. "It will be one option among a broad range of fraud-assistance tools we already provide to consumers so that they may make the choice best suited to their situation," said Kerry Williams, group president of credit services and decision analytics business at Experian. "Now that a national model for file freezing has emerged, Experian is offering this option to help prevent consumer confusion." TransUnion was the first company to offer this option, which will come into effect starting October 15.
Iowa caucuses
Huckabee, who came from behind in recent weeks with support from evangelical Christians, had been in a tight race with former Massachusetts governor Mitt Romney. He was winning with 34 per cent support, compared with 25 per cent for Romney. Former senator Fred Thompson and Senator John McCain battled for third place. The caucus vote is considered the official kickoff to the November 2008 presidential election. Voters from both parties choose delegates to attend party conventions later this year. The winners in Iowa will likely give the candidate a boost in New Hampshire, where independents can vote in either primary. But it should be clear by Super Tuesday on Feb. 5, when more than 20 states weigh in, who the nominees will be. FULL STORY Share your thoughts on the race for the White House « Previous Topic | Main | Next Topic » This discussion is now Closed.
Norlarco says approximately $52 million lost, 1,500 members gone
Norlarco Credit Union continued to bleed deposits and depositors five weeks after federal regulators confirmed they had seized the organization and dismissed its board of directors. Norlarco lost $20 million in deposits and nearly 900 members from Aug. 31 to Sept. 30, according to the statement of financial condition released Tuesday. .
|
