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Citigroup plans a leaner future, cuts 53,000 jobs - Seattle Post Intelligencer
NEW YORK -- Citigroup, widely seen as the sickest Wall Street bank, will make some of the most severe cuts in the history of U.S. business - 53,000 jobs - as it tries to slash costs and get back to basics before it's too late. The cuts, which will ...

American Express: A Creditable Investment - Barron's - Seekingalpha.com
American Express ( AXP ), the credit card firm recently approved to be a bank holding company, has seen its shares plummet this year as the credit crisis rages on and the economy grows weaker. The markets may have overreacted, says Barron's Andrew ...

UPDATE 1-Deutsche Bank CEO- End at hand for investment banks - Reuters
FRANKFURT Nov 17 (Reuters) - Deutsche Bank's (DBKGn.DE: Quote , Profile , Research , Stock Buzz ) Chief Executive, Josef Ackermann, said he expected banks around the world to drop the model of investment banking as a standalone business as a result ...

Buy-outs bypass bank debt in all-share deals - Financial Times
Confucius, the Chinese philosopher, said that only the wisest and stupidest of men never change. Most private equity bosses are already showing they are neither too wise nor too stupid to adjust their strategies to cope with turmoil in financial ...

Hypo Real Estate seeks more cash from rescue fund - Guardian Unlimited
FRANKFURT, Nov 17 (Reuters) - Troubled German property financier Hypo Real Estate wants to tap the government for more cash by the end of the year, beyond the 50 billion euros ($63.43 billion) it has already secured, it said on Monday. Hypo Real ...

FDIC's Bair pushes aggressive mortgage plan - CNN Money
NEW YORK (CNNMoney.com) -- In a surprise move, FDIC Chairwoman Sheila Bair Friday unveiled details of her plan to have the government help delinquent homeowners. There are two key elements to the proposal. First, housing payments for delinquent ...

A Hanging Offense - Wall Street Journal
Yesterday we noted a story about liberals, prompted by the election of Barack Obama, making sudden shows of patriotism after shunning such displays for the past eight years. We wondered if the same thing had happened on the other side--that is, if ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. The latest grim housing statistic comes today from RealtyTrac. The California firm reported Thursday that nationwide foreclosures surged 25% in ...

Voices of the Evacuated - Santa Barbara Independent
del.icio.us. Trace Robinson's home at 356 East Mountain Drive was still standing as of this morning, but many Mountain Drive homes burned to the ground. Trace Robinson and her family lived at 356 East Mountain Drive, next to the Tea Gardens, where ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

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Today's Mortgage Terms starting with G

  • Good Faith Estimate: A written estimate of the closing costs the borrower will most likely have to pay based on common local practices. Under the Real Estate Settlement Procedures Act (RESPA), the lender is must provide this disclosure to the borrower within three days of receiving a loan application.

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