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Global interest rates in 2008
2008-10-23 11:25:00 The following table of average rates is aimed at reflecting the movement of official policy rates during the economic cycle rather than actual borrowing costs. The following table of average rates is aimed at reflecting the movement of official policy rates during the economic cycle rather than actual borrowing costs. 2008 MONTH: END06..END07..01...02...03...04...05...06 ...07...08...09...10...11...12 ----------------------------------------- ------------------------------------- G7 AVG: 3.65 3.70 3.40 3.35 3.10 2.90 - - 2.95 - - - - - 11 AVG: 4.00 4.52 4.39 4.41 4.32 4.25 4.26 4.28 4.33 - 4.28 - - - ----------------------------------------- ------------------------------------- FED 5.25 4.25 3.0* - 2.25 2.0 - - - - - - - - BOJ 1) 0.25 0.50 - - - - - - - - - - - - ECB 3.50 4.00 - - - - - - 4.25 - - - - - BOE 5... More About: Interest Rates , Global , Interest , Rates
Hand-held Portable Universal Cell Phones Jammer (2nd Gen)
2008-08-28 09:46:00 You can create a dome area of about radius 8 to 10 meters to shield, and avoid to disturb by cell phone calls. # Features: Hand-held Portable Universal Cell Phones Jammer# Suggest to use: Conference room, Class room, Library, Court room, Cinema, Concert hall, etc.# Operate continuously for 1.5 hours with full charged battery# Operate Range: Radius 8-10 meters# Dual miniature antenna# Hand-held size: 5.8 x 11.8 x 2.2 cmBlocked Frequency Systems:# GSM850 Band: 869-894 MHz# EGSM900: 925-960 MHz# DCS1800: 1805-1880 MHz# PCS1900: 1930-1990 MHz# CDMA800: 869-894 MHz# WCDMA/CDMA2000: 2110-2170 MHz# PHS: 1895-1919 MHz# DECT: 1880-1900 MHzPackage Included:# 1 piece Hand-held Portable Universal Cell Phones Jammer# 1 piece Universal Adaptor# 1 piece Rechargeable Li-ion Battery More About: Effect
Country Performance (Aug 20, 2008)
2008-08-21 12:18:00 MSCI IndexMTD3Mo.YTD1 Yr3 Yr10 YrBRAZIL-10,240%-26,060%-10,810%38,170%41 ,720%17,890%RUSSIA-12,230%-31,780%-28,380 %-5,030%19,990%28,380%INDIA-0,040%-14,540 %-37,940%-5,280%22,800%18,040%CHINA-10,65 0%-20,130%-33,580%-8,760%25,860%8,930%sou rce: MSCI Barra Excel More About: India , Country , Performance , China , Global
JUSHENKO GOES CRAZY
2008-08-11 11:34:00 As the Internet news agency korrespondent.ua informs, referring to confidential sources, tonight the President of Ukraine Victor Jushchenko is placed in psycho-neurologic clinic for restoration of psychological balance. The press-service of the president of Ukraine does not confirm, but also does not deny this fact. According to the edition, Jushenko has run into heavy depression after news about full clearing Republic South Ossetia of the Georgian armies and the message that the information on NATO landing in Poti has not proved to be true. More About: Crazy
Georgian units
2008-08-11 11:10:00 While they may dress in uniforms similar to the US, and some of them have US weapons, they aren't even close to US troops. Of the Georgian units I've seen, only the Commandos had any disciple. The regular units had SERIOUS disciple problems. They stole any and everything they could get a hold of, including the radio and antenna mount off of the HMMWV the NCOIC of their MiTT was driving. When confronted, their commander claimed innocence until the NCOIC told them they would get nothing else from the US military until his equipment was returned. So it "magically" appeared that night.In Kuwait, they were routinely caught steeling from other units, they broke into shipping containers to steel MREs, and uniforms, many of them got caught steeling form the PX, they set several structures on fire because they were smoking in no smoking areas, etc., etc. Until they can get their sh*t together, there's no way in hell they should be allowed into NATO."So you have had experience with Georgia... More About: Units
Top Finance Blogs Ranked by Alexa
2008-07-22 14:42:00 1 Seekingalpha.com TR: 2,734 (3,859 links from 683 blogs) A: 5,161 2 bigpicture.typepad.com/ TR: Unk A: 18,500 3 BloggingStocks.com TR: 595 (55,276 links from 1,558 blogs) A: 18,588 4 TheKirkReport.com TR: 114,529 (99 links from 32 blogs) A: 72,680 5 www.fatpitchfinancials.com/ TR: 18,407 (838 links from 177 blogs) A: 86,000 6 TraderMike.net TR: 6,891 (2,542 links from 377 blogs) A: 88,325 7 www.theessentialsoftrading.com/Blog TR: Unk A: 92,487 8 247wallst.blogspot.com TR: 19,067 (3,381 links from 170 blogs) A: 100,000 9 22dollars.com TR: 227,372 (82 links from 17 blogs) A: 123260 10 www.howardlindzon.com/ TR: Unk A: 151,800 11 valueinvestingnews.com/ TR: 114,529 (352 links from 32 blogs) A: 190,351 12 www.brettsteenbarger.com/weblog.htm TR:97,528 (328 lnks fm 37 blgs)A:193,425 13 investorgeeks.com/ TR: 27,742 (411 links from 118 blogs) A: 210,000 14 tickersense.typepad.com/ TR: 45,277 (563 links from 74 blogs) A: 223,322 15 Bi... More About: Finance , Blogs , Alexa
Russia's richest woman buys Fame Academy mansion for £50m - only a year aft
2008-07-16 12:36:00 After being sold last year for £32million, the biggest private house in London bar Buckingham Palace has just been bought for £50million - a 56 per cent rise in 12 months. Witanhurst, a 90-room Grade II Queen Anne listed mansion in Highgate, is the latest investment by the Mayor of Moscow's wife Elena Baturina.She is the richest woman in Russia in her own right with a fortune of £1.3billion. The property has been used for the BBC's Fame Academy in the past and the Queen even played tennis there as a girl at a pre-Wimbledon party hosted by a former owner.It is in a dilapidated state, with holes in the ceilings and crumbling cornices, and no work has been done on it since it was bought from an Arab family by property developer Marcus Cooper last July. But with her company, Inteco, said to be the most successful building conglomerate of the post-Soviet era, 45-year-old Miss Baturina should have no problem restoring Witanhurst to its former glory. Something of a controversial figure ... More About: News , Woman , Mansion
Rant about the weather
2008-02-08 15:59:00 "We had another 8-inches of snow that dumped on us again a couple of days ago. Man, I am tired of all this crap that we are getting this year. Anyway, this time we got a decent amount of rain which froze underneath the snow. So today being payday, and riding on empty, I went to get ice. Guess what. My dang, gas tank was iced shut. I cut my knuckles trying to chip the ice away (without damaging my paint). To top it off my city, doesn't blade the roads. Because they don't want to damage the roadway. So they just throw salt and sand down and call it good. Then the cities police issue their annual press release reminding citizens are to have their sidewalks and driveways shoveled within 12 hours (or 6 hours from sunrise) to avoid getting a $100 ticket (plus $71 court costs). The gall of the city to expect private citizens to do what they refuse to do on the streets. It is even worse then that. I live on a side street, and I may never even see them come down the street with salt and sa... More About: Weather , Rant
Japan stocks rise on Microsoft factor
2008-02-04 07:39:00 Shares in Softbank soared as much as 16% and Yahoo Japan was untraded due to a flood of buy orders on Monday in Tokyo, on hopes a potential Microsoft acquisition of Yahoo would boost the Japanese firms? competitiveness, reports Reuters. Microsoft?s $44.6bn bid for Yahoo announced Friday was priced at $31 per share - a 62% premium to Yahoo Inc?s Thursday close. Internet and mobile phone service company Softbank owns 3.9% of Yahoo Inc in terms of voting rights. Yahoo Japan is owned 41% by Softbank and 33% by Yahoo Inc. The deal, if realised, would be highly positive for Yahoo Japan, said one analyst, as Microsoft?s financial prowess and technological expertise would help Yahoo Inc and Yahoo Japan compete better with Google in internet search services. Meanwhile, a weekend report in the Nikkei business newspaper said that a Microsoft acquisition of Yahoo Inc would likely result in an alliance among Microsoft, Softbank and Yahoo Japan. More About: Stocks , Rise
Stock market woes hit hedge funds
2008-02-04 07:33:00 January was the worst for hedge funds since the August 1998 crisis that presaged the collapse of Long Term Capital Management, according to data from Chicago-based Hedge Fund Research. The average fund tracked by the HFRX index lost more than 2% in January, with event-driven funds, which include activists, the worst hit with a 3.39% loss. Equity long-short funds ? which also tend to be exposed to declines in stock markets ? were badly hit too. Funds that had long positions on stock markets lost out as UK blue-chips fell 6.6% and the S&P 500 fell 6% over the month. For example, the computer-driven RIEF fund from Jim Simons? Renaissance Technologies, one of the best-respected hedge funds, was down about 4%, as it is structured to be long the market. More About: Stock Market , Market , Stock
Microsoft + Yahoo = Microsoft - $44.6 billion
2008-02-01 16:40:00 NEW YORK (Reuters) - Microsoft Corp (MSFT.O: Quote) has made an unsolicited offer to buy Yahoo Inc (YHOO.O: Quote) for $44.6 billion in cash and stock, seeking to join forces against Google Inc (GOOG.O: Quote) in what would be the biggest Internet deal since the Time Warner-AOL merger.In its boldest-ever acquisition move, Microsoft said on Friday it offered $31 per share for Yahoo, or a 62 percent premium over the Internet media company's closing stock price on Nasdaq Thursday.Yahoo, whose shares jumped to $30.75 in premarket trading, said it would evaluate the bid.Microsoft shares, which have a market capitalization of about $300 billion, fell 6 percent to $30.78. More About: Stocks , Yahoo! , Billion
20% Return
2008-02-01 12:10:00 INVESTOR 1Investor 1 wants to do right by herself and her money. She?s worked hard to stash away $1000, and she?s determined to maximize her return. So over the course of a year she spends much of her time online researching stocks. She keeps up with all the news, trades often, and is alternately exhilerated and stressed with every volatile turn in the markets. She does well and earns a 20% return ? even after taxes and all those trading fees! At the end of the year her $1000 has turned into $1200. She smiles and pats herself on the back. Then she flips on CNBC to see if she can pick up some tips on how to duplicate that return next year.INVESTOR 2 Investor 2 also worked hard to stash away $1000. She too wants to do what?s best for her financial future by making that money grow as fast as possible. Therefore she sticks her $1000 in an index fund. She knows this will minimize fees and taxes and - more importantly - that she can just let that money sit there without having to spend a ... More About: Investment , Return
Spending money on personal luxuries
2008-02-01 12:02:00 I've read a few articles about the philosopher Peter Singer, who, if I understand his ideas correctly, believes that all life has equal value, and that consequently we should all be vegetarians, and to take things to an extreme, that it's amoral for anyone to have luxuries while others are suffering. It's an interesting idea-- if you assume that each person who works as hard as they can, to the best of their ability, is equally deserving of rewards, how do we justify the different levels of luxury enjoyed by CEOs vs. teachers vs. people who work in factories in China? And are any of those people, all of whom have an income that can probably meet their basic needs, morally obligated to donate the rest of their money to better the lives of people for whom self-sufficiency isn't an option, and that only once all those people have been taken care of can anyone justify spending money on personal luxuries? More About: Personal , Money , Spending
World Economic Update
2008-01-30 12:27:00 The International Monetary Fund (IMF) has again cut its forecast for world economic growth and is bracing for more bad news in rich and poor countries, even as it stopped short of using the word "recession" on Tuesday (WASHINGTON). This year, the global economy will post its weakest performance in five years, the global economic watchdog said in an update to its semi-annual World Economic Outlook report. The warning comes days after IMF managing director Dominique Strauss-Kahn broke with tradition and asked governments to spend more - even at the cost of increasing budget deficits, which the agency normally considers a cardinal sin - to stimulate their economies. Strauss-Kahn cited the severity of the unfolding downturn. Growth in 2008 likely will slow to 4.1%, from 4.9% in 2007. Last October, it predicted 4.4% growth for 2008. This would be the worst performance since 2003, when the world economy grew by 3.6%, according to the IMF. "The overall balance of risks to the global growth... More About: India , Japan , China , Update
The 19 biggest trading scams
2008-01-25 15:03:00 Company: Societe Generale (2008) Detail: Lost 4.9 billion euros ($7.2 billion) before taxes after trader went beyond permitted limits on European stock index futures.Company: Bank of Montreal (2007) Detail: Wrong-way bets on natural gas led to a pretax loss of about C$680 million ($663 million).Company: Amaranth Advisors LLC (2006) Detail: Trader Brian Hunter's bad bets on natural gas triggered $6.6 billion of losses.Company: Refco Inc. (2005) Detail: Declared bankruptcy after hiding $430 million of debt Company: China Aviation Oil (2004) Detail: Lost $550 million on (Singapore) Corp. speculative oil-futures trades, forcing debt restructuring.Company: Allied Irish Banks Plc (2002) Detail: Trader hid $691 million in currency market losses.Company: Plains All American (1999) Detail: Lost $160 million because of Pipeline LP unauthorized crude-oil trading by an employee.Company: Long-Term Capital (1998) Detail: Lost $4 billion after a debt Management default by RussiaCo... More About: Trading , Scams , Effect
Bank hit by $7.1 billion trader fraud
2008-01-24 15:37:00 The Societe Generale Bank says it has uncovered "massive" fraud by a trader on its futures desk in Paris which resulted in a loss of 4.9 billion euros.The bank said the fraud was based on simple transactions, but concealed by "sophisticated and varied techniques".SocGen said that the employee, who has confessed to the fraud, has been suspended and a dismissal procedure had been initiated. It also announced new write-downs of 2.05bn euros related to the sub-prime mortgage crisis in the US. The bank's shares, which were suspended in the morning, lost 3.6% when they resumed trading. Societe Generale is one of the main European financial services companies and also maintains extensive activities in others parts of the world. More About: Fraud , Billion
Greenspan to join New York hedge fund firm: report
2008-01-15 08:25:00 NEW YORK (Reuters) - Former Federal Reserve Chairman Alan Greenspan is set to join hedge-fund firm Paulson & Co. as an adviser, The Wall Street Journal reported on Tuesday. New York -based Paulson, with assets of $28 billion, is set to make the announcement on Tuesday, the report said.Credit Opportunities Fund (Paulson & Co.) +590% (in 2007) More About: Report , Join
?Magnit?
2007-12-26 09:29:00 Top manager of a major Russian investment bank informed that retail chain ?Magnit? is planning to conduct a follow-on offering of shares in London in the nearest future. It aims to raise at least US$500m.Other investment bankers familiar with the company?s plans added that Deutsche Bank and Morgan Stanley have been appointed organizers of the deal, during which additionally issued shares will be sold on the LSE. The offering will take place in April-May 2008. More About: News
Gross Domestic Product (GDP)
2007-12-26 08:35:00 Economic growth is measured in terms of an increase in the size of a nation's economy. A broad measure of an economy's size is its output. The most widely-used measure of economic output is the Gross Domestic Product (abbreviated GDP).GDP generally is defined as the market value of the goods and services produced by a country. One way to calculate a nation's GDP is to sum all expenditures in the country. This method is known as the expenditure approach and is described below.Expenditure Approach to Calculating GDPThe expenditure approach calculates GDP by summing the four possible types of expenditures as follows:GDP = Consumption+ Investment+ Government Purchases+ Net ExportsConsumption is the largest component of the GDP. In the U.S., the largest and most stable component of consumption is services. Consumption is calculated by adding durable and non-durable goods and services expenditures. It is unaffected by the estimated value of imported goods.Investment includes investment...
Gazprom has bought OGK-6
2007-12-25 11:34:00 Dec. 25 (Bloomberg) -- OAO Gazprom , Russia's biggest company, is set to gain control of OAO OGK-6, the nation's third-largest power generator by capacity, after spending almost 21 billion rubles ($850 million) on new shares. Gazprom will own a little more than 50 percent in OGK-6 following Unified Energy's breakup after purchasing the 5.5 billion new shares, according to Bloomberg calculations. Gazprom is poised to dominate two out of the six national wholesale generating companies, or OGKs, being created under reforms to introduce competition and raise investment for the world's fourth-largest power network.The arrangement gives Gazprom influence over power supplies as far east as Siberia and in cities including Moscow and St. Petersburg, Russia's largest cities. Critics say the market reforms could be undermined by Gazprom's emerging dominance in the power sector.
Homefront Mortgage Inc.
2007-12-24 14:36:00 We're sure the primary reasons for the shutdown are in the first sentence of Mr. Fry's letter:"Due to the tremendous number of buy back requests on loans that our loan agent staff funded, and due to the overwhelming number of lawsuits as a result of loans that our loan agent staff funded, and due to the massive increase in our errors and omissions insurance coverage as a result of these issues, Homefront Mort gage Inc. must discontinue all business operations on December 31st 2007. "This had to be one of the more disturbing "shutdown" letters we've ever seen! We made a phone call and spoke to Stuart Spencer, President. Needless to say, he felt the email was going to be kept a secret, and was not very pleased it was in our hands. In an about-face, he stated "we haven't decided what to do yet." He then proceeded with "Keep your f***king nose out of our business," carefully spelling out the 'F' word, and ended the phonecall with "...and f***k you too."QUOTE
Eoin Treacy (Fullermoney): Sectoral performance for 2007
2007-12-24 09:57:00 âOver the last year, the worst performing sectors have been Homebuilding (-60.69%) Thrifts & Mortgages (52.45%) Real Estate Management (-37.11%), Department Stores (-34.99%), Motorcycle Manufacturers i.e. Harley Davidson (51%) and Regional Banks (-31.2%) This is no secret and real estate related worries have dominated media coverage over the last year.âHowever what is less well known is that of the S&P 500âs 147 sector indices, 85 are positive or unchanged for the year. Of these, 7 are up in excess of 50% year-to-date. These were Fertilizer & Agricultural Chemicals (+94.42%), Construction & Engineering (94.24%), Education Services (+84.89%), Coal and Con Fuel (+76.61%) Diversified Metals (71.97%), Internet Retail (64.89%) and Healthcare Services (51.21%. A number of these indices are consolidating their gains and need to sustain moves to new high ground to reaffirm their overall uptrends.âIn the coming year, we can probably expect banks to bottom out and they... More About: Performance , Perform
Moodyâs Economy.com: Survey of business confidence for world
2007-12-24 09:46:00 âGlobal business sentiment is very weak and fragile. This is particularly true in the US where confidence slumped last week to its lowest level in the five years of this survey, and where it is now consistent with a contracting economy. Expectations regarding the outlook through mid-2008 are particularly bleak, and responses regarding sales strength, inventory investment, and office space are also soft. Confidence is stronger outside the US, but it has notably weakened across the globe during the past month. While pricing pressures have risen with oil prices near $100 per barrel, they remain notably muted compared to the pressures that prevailed during previous oil price spurts.âSource: Moodyâs Economy .com More About: Business , World , Survey
China to Play a Greater Role as Donor at the World Bank
2007-12-24 09:14:00 Source: World Bank works with Chinese on Africa; China to Play Greater Role in World Bank World Bank President Robert Zoellick visited Li Ruogu, the chairman of the Chinese Export-Import Bank to discuss the possibility of conducting joint development projects in the future. The visit also addressed international concerns about Chinese lending in Africa. China has distinguished itself from other donors by not attaching conditionalities to its loans; however, it has yet to provide guarantees of debt forgiveness, either.Zoellickâs visit reflects the change in the World Bankâs approach to China. The Bank is now working to accommodate China as it transitions from recipient to donor country. As Zoellick noted at his meeting with Li, China has recently made donations to the International Development Association at the World Bank. The Bank is now seeking to recruit more Chinese staff. More About: The World
Greenspan Backs Help For Homeowners
2007-12-17 15:03:00 USA Today reports former Federal Reserve Board Chairman Alan Greenspan "suggested Sunday that a tax break or other government financial help for homeowners facing the mortgage crunch would be the best political fix for the economy," but he "cautioned against meddling with home prices or interest rates to address the housing problem." On ABC's "This Week," Greenspan said, "Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this."The Financial Times reports Greenspan's remarks were "likely to fuel growing political pressure for a more radical response to the housing crisis." The New York Times reports, "Two ways to help homeowners directly would be to reduce taxes or to give cash grants similar to those given to disaster victims. Either approach would strain the federal budget, but Mr. Greenspan said, 'It's far less damaging to the economy to create a short-term fiscal problem, which we would, than to try to fix the ... More About: Homeowners
How Top Companies from Rapidly Developing Economies are Changing the World
2007-12-11 15:22:00 Companies from rapidly developing economies (RDEs) are globalizing so quickly that they pose an urgent threat to industry leaders, The Boston Consulting Group (BCG) warns in the second edition of its report on 100 of the most formidable companies from RDEs. The report -- titled "The 2008 BCG 100 New Global Challengers: How Top Companies from Rapidly Developing Economies are Changing the World " -- is being published today."Industry leaders need to understand these new rivals and act quickly," urges David Michael, the report's coauthor and a Beijing-based BCG senior partner. "For those who move fast, the challengers could become key clients, suppliers, and even strategic partners. For those who don't, the challengers will represent fierce competition and, in time, become potential acquirers." By many measures, the BCG 100 New Global Challengers are already outperforming established industry leaders. In the past five years, the Challengers grew revenues faster than the S&P 500 --... More About: Companies , The World
That crisis has hurt only two types of borrowers
2007-12-11 10:46:00 That crisis has hurt only two types of borrowers: Those who want a lot of money -- more than $417,000 to be exact. And anyone with bad credit -- those with credit scores below 620.Here's why:Banks and finance companies obtain much of the money they loan for mortgages from two government-chartered companies -- commonly referred to as Freddie Mac and Fannie Mae -- or large private investors such as retirement plans, hedge funds and insurers. Those investors panicked at the prospect of billion-dollar losses because a growing number of homeowners are defaulting -- primarily borrowers with poor credit who were given dangerous, adjustable-rate mortgages.By early 2009 more than 2 million ARMs given to borrowers with credit scores below 700 will have reset to higher interest rates, pushing payments up by 30% to 100%. That's more than many of those homeowners can afford.lmost everyone blames this mess on lax lending standards and a screwed up system that rewarded mortgage brokers for pushi... More About: Hurt , Types , Crisis
Negative Ripple Effect on the Economies of the Nation's Metropolitan Areas
2007-12-06 12:56:00 Using Global Insight's proprietary databases and extensive housing analyses, the report for the U.S. Conference of Mayors, "The Mortgage Crisis: Economic and Fiscal Implications for Metro Areas," examines the effects of the housing recession and mortgage crisis on the economic growth prospects for 361 of the nation's metropolitan areas. Weak residential investment, lower spending and income in the construction industries, as well as curtailed consumer spending resulting from decreased home equity will have "multiplier effects" on the nation's economy. Other report findings include: The foreclosure crisis alone will reduce home values by an additional $519 billion in 2008, bringing the total forecast of lost equity for the nation's homeowners to$1.2 trillion. In 2008, the economy will grow at a rate of 1.9%, a full percentage point lower than would have been the case without the mortgage crisis. Foreclosures will increase by at least 1.4 million in 2008; these homes represent a m... More About: Effect , Negative , Metropolitan , Ripple , The Nation
Update - Federal Debt Consolidation Program
2007-11-29 08:50:00 A federal debt consolidation program covers federal student loans as well as other federal loans. Interest rates, regulations and benefits keep changing. Find some of them right here.The United States Department of Education is the governing body for the Federal Family Education Loan Program (FFELP). Federal debt consolidation loan interest rates are fixed across the board. Subsidized and unsubsidized Stafford, Perkins Loans, Nursing Loans and Health Education Assistance loans may be consolidated only after graduation. Only fully disbursed loans can be consolidated. Married couple cannot combine their loans. School students do not qualify for loan consolidation. They must wait till graduation to be eligible for federal loan consolidation. --------------------A private lender can consolidate almost all your federal loans, including cases of multiple lenders. You must be wondering, why one should ever go to a private lender when the loans can be consolidated through the federal Governm... More About: Debt Consolidation , Update , Debt , Dati
House mortgage bill
More articles from this author:2007-11-16 08:04:00 House mortgage bill. The bill, passed Thursday evening by a 291-127 vote, garnered support from 64 House Republicans. No Democrats were opposed.The bill would ban lenders from making loans that borrowers can't repay, create a nationwide licensing system for mortgage brokers and make Wall Street banks that package mortgage securities into investments liable for violations of lending laws.Many Republicans were critical of the bill's provision to increase banks' liability, with Rep Ed Royce, R-Calif., calling it a "trial lawyer's dream."Meanwhile, Sen. Tom Coburn, R-Okla., on Thursday blocked an effort by Senate Majority Leader Harry Reid, D-Nev., to get quick approval of a bill to expand authority for the Federal Housing Administration, a Depression-era agency that insures loans made to low-income borrowers.A similar bill, backed by the Bush administration, passed the House in September.It would permit the agency to insure loans at large as $417,000 -- about $54,000 more than the ... More About: House , Mortgage , Bill , Mort 1, 2 |
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