Bank of America was rescued by the US government on Friday through a -billion bailout.
The world’s financial markets remain at the eye of a perfect economic storm. The architects of this almighty financial sell-off? The banks themselves.
The true impact of this plan lies in the limitations it will place on other areas of public spending, writes Bill Emmott.
Larry Elliott takes a look at the bail-out which is a nationalisation designed to avert the worst market collapse since the 1930s.
United States stocks were in a dramatic sell-off on Monday morning amid a widening credit crisis.
US regulators will not allow mortgage giants Fannie Mae and Freddie Mac to pay their chief executives multimillion-dollar severance packages.
Regulators have decided how multimillion-dollar severance packages for the departing chief executives of Fannie Mae and Freddie Mac could be limited.
US stocks rose on Monday as investors bet Washington’s bail-out of Fannie Mae and Freddie Mac would stabilise the US housing sector.
Asian and European bank shares soared on Monday after the US government took control of mortgage finance firms Fannie Mae and Freddie Mac.
The US government seizes control of mortgage finance companies Fannie Mae and Freddie Mac in an aggressive move to help the distressed US economy.
Can Treasury Secretary Henry Paulson’s "bazooka" save mortgage finance titans Fannie Mae and Freddie Mac from a calamitous meltdown?
Share prices dropped sharply on the world’s financial markets early last week amid fears that the year-long credit crunch is entering a dangerous new
Ben Bernanke has boosted shares on both sides of the Atlantic when he said the fight against inflation was being aided by falling commodity prices.
Fannie Mae slumped to a quarterly loss of ,3-billion after the housing market came down ”fast and hard”, prompting huge liabilities.
An emergency plan by the US government to stabilise the nation’s two biggest mortgage finance corporations won cross-party support last week.
Shares in Asian and European banks tumbled on Tuesday as investors dumped stocks on concerns about exposure to troubled US mortgage lenders.
A government plan to shore up Fannie Mae and Freddie Mac helped calm markets on Monday but did little to allay fears about the health of the system.
United States worries grew on Friday night when federal officials took over California mortgage lender IndyMac after a run on the bank by depositors.
The United States government is considering taking over top US mortgage lenders Fannie Mae and Freddie Mac and placing them into conservatorship.
United States Federal Reserve Chairperson Ben Bernanke told Congress on Thursday that the credit crisis has created ”significant market stress” and offered fresh assurances that…
