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    Personal Finance Headlines
    SEC finds shortcomings in credit raters (Reuters)
    Reuters - Credit rating agencies did not properly manage their conflicts of interests when assigning ratings to structured products such as mortgage-backed securities, a report by the U.S. Securities and Exchange Commission said on Tuesday. -- read full article
    Tue, 08 Jul 2008 17:30:20 GMT - Yahoo! News: Personal Finance News
    Fannie, Freddie rise after dive a day earlier (AP)
    AP - Shares of mortgage financiers Fannie Mae and Freddie Mac bounced back Tuesday, a day after plunging over worries the pair might need billions of dollars in new capital if a new accounting rule is put into effect. -- read full article
    Tue, 08 Jul 2008 18:44:16 GMT - Yahoo! News: Personal Finance News
    Struggling IndyMac says depositors pulling cash (Reuters)

    Mailing envelopes and mortgage statements from IndyMac Bank are seen in Los Angeles July 8, 2008. (Danny Moloshok/Reuters)Reuters - IndyMac Bancorp Inc on Tuesday said depositors were withdrawing cash at an "elevated" pace after a prominent U.S. senator recently questioned the big mortgage lender's ability to survive the U.S. housing crisis.


    -- read full article
    Tue, 08 Jul 2008 18:55:52 GMT - Yahoo! News: Personal Finance News
    ALL BUSINESS: Wall Street CEOs should return pay (AP)
    AP - If Wall Street CEOs really want to revive their credibility, they should return the bloated bonuses they got when they made what eventually turned into wrongheaded bets on the mortgage market. -- read full article
    Tue, 08 Jul 2008 19:00:22 GMT - Yahoo! News: Personal Finance News
    Treasuries move higher on concerns about economy (AP)
    AP - Treasury bonds rose Monday as investors fled the stock market amid growing concerns about the financial sector. A Federal Reserve official warned that financial companies' problems might worsen, and a Wall Street analyst raised questions about government lenders Freddie Mac and Fannie Mae. -- read full article
    Mon, 07 Jul 2008 21:24:29 GMT - Yahoo! News: Personal Finance News
    Financial worries weigh on Wall Street (Reuters)

    (R-L) John Casey, Francis Mastroianni, and Anthony Fazio work in the Rice Pit at the Chicago Mercantile Exchange, April 24, 2008. (John Gress/Reuters)Reuters - Stocks fell on Monday on concerns that the top two mortgage providers would have to raise even more capital, severely devaluing existing shareholders' stakes, while big energy companies fell along with oil prices.


    -- read full article
    Mon, 07 Jul 2008 21:35:48 GMT - Yahoo! News: Personal Finance News
    Stocks fall on worries about financial sector (AP)

    (R-L) John Casey, Francis Mastroianni, and Anthony Fazio work in the Rice Pit at the Chicago Mercantile Exchange, April 24, 2008. (John Gress/Reuters)AP - Wall Street lost more ground in extremely volatile trading Monday, as investors recoiled at a cautious economic outlook from a Federal Reserve official and the possibility of more financial troubles of Fannie Mae and Freddie Mac.


    -- read full article
    Mon, 07 Jul 2008 21:39:52 GMT - Yahoo! News: Personal Finance News
    IndyMac to stop most mortgage loans, cut 3,800 jobs (Reuters)
    Reuters - IndyMac Bancorp Inc , one of the largest U.S. mortgage lenders, said on Monday it will eliminate 3,800 jobs and stop making most home loans after regulators concluded it was no longer "well capitalized." -- read full article
    Mon, 07 Jul 2008 22:50:16 GMT - Yahoo! News: Personal Finance News
    IndyMac stops new loans, to cut work force by half (AP)

    In this Jan. 2008 file photo, a man leaves an IndyMac Bank branch office in Burbank, Calif. IndyMac Bancorp Inc. has stopped accepting new loan submissions in its retail and wholesale forward mortgage lending channels and plans to slash 3,800 jobs, or more than half its work force. (AP Photo/Reed Saxon)AP - Mortgage lender IndyMac Bancorp Inc., struggling to raise capital to stay in business, said Monday it has stopped accepting new loan submissions in its main mortgage lending divisions and plans to slash 3,800 jobs, or more than half of its work force.


    -- read full article
    Mon, 07 Jul 2008 23:20:29 GMT - Yahoo! News: Personal Finance News
    Freddie Mac, Fannie Mae shares pummeled (Reuters)
    Reuters - Fannie Mae and Freddie Mac shares plunged to their lowest in nearly 16 years on Monday while costs to insure their debt against default rose on concern the two largest U.S. mortgage funders may need to raise vastly more capital amid larger-than-expected losses. -- read full article
    Tue, 08 Jul 2008 01:27:46 GMT - Yahoo! News: Personal Finance News
    Treasuries move higher on concerns about economy (AP)
    AP - Treasury bonds rose Monday as investors fled the stock market amid growing concerns about the financial sector. A Federal Reserve official warned that financial companies' problems might worsen, and a Wall Street analyst raised questions about government lenders Freddie Mac and Fannie Mae. -- read full article
    Mon, 07 Jul 2008 18:18:38 GMT - Yahoo! News: Personal Finance News
    Stocks fall on economic worries, earnings jitters (AP)

    (R-L) John Casey, Francis Mastroianni, and Anthony Fazio work in the Rice Pit at the Chicago Mercantile Exchange, April 24, 2008. (John Gress/Reuters)AP - Stocks turned lower Monday as investors reacted to cautious remarks about the economy by a Federal Reserve official and worried about the financial health of Fannie Mae and Freddie Mac. Treasurys rose sharply as investors sought the safety of government debt.


    -- read full article
    Mon, 07 Jul 2008 18:49:37 GMT - Yahoo! News: Personal Finance News
    Employers use federal law to deny benefits (AP)

    Melissa Amschwand-Bellinger shown Wednesday, July 2, 2008  in Houston. Dying of cancer, her husband did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer.  (AP Photo/Pat Sullivan)AP - Dying of cancer, Thomas Amschwand did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer.


    -- read full article
    Sun, 06 Jul 2008 03:31:51 GMT - Yahoo! News: Personal Finance News
    TPG pulls out of Bradford & Bingley plan (AP)
    AP - Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of its agreement to invest more than $350 million in the mortgage banker. -- read full article
    Fri, 04 Jul 2008 18:18:36 GMT - Yahoo! News: Personal Finance News
    Housing market seen getting worse (Reuters)

    A foreclosed home is seen in Stockton, California in this May 13, 2008 file photo. (Robert Galbraith/Reuters)Reuters - An even gloomier scenario may be in store for an already ailing U.S. housing market if the overall economy slips into a recession, according to UBS Securities analysts.


    -- read full article
    Thu, 03 Jul 2008 15:54:50 GMT - Yahoo! News: Personal Finance News
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