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White House opposes Congress "raiding" TARP for automakers - Reuters
WASHINGTON (Reuters) - The White House on Tuesday said it opposed Congress "raiding" the $700 billion Troubled Asset Relief Program to bail out U.S. automakers. "We'd prefer that Congress take the responsible, bipartisan route of using the existing ...

Consumers may get ray of good news: lower prices - WTOP Radio
WASHINGTON (AP) - American consumers hit by a seemingly endless stream of bad news, from vanishing jobs to shrinking retirement accounts, may be in for a small dose of relief: lower prices at stores. The Consumer Price Index, the country's most ...

Treasury Denounced Over Bailout - Gainesville Sun
WASHINGTON — The Treasury secretary, Henry M. Paulson Jr., on Tuesday rejected pleas to use money from the $700 billion bailout program to help homeowners avoid foreclosure or to stave off bankruptcy by Detroit’s Big Three automakers. Click to ...

Lawmakers press Paulson on bailout plan changes - Seattle Post Intelligencer
WASHINGTON -- Faced with exasperated lawmakers upset by shifts in bailout strategy, Treasury Secretary Henry Paulson launched a spirited defense Tuesday of his handling of the $700 billion program and expressed fresh reservations about tapping the ...

Paulson says bailout not for mortgage guarantees - Seattle Post Intelligencer
WASHINGTON -- Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures. Paulson and Federal Reserve Chairman Ben Bernanke ...

Paulson, Bernanke defend $700 billion bailout - Associated Press
WASHINGTON (AP) -- Treasury Secretary Henry Paulson told Congress Tuesday he opposes tapping a $700 billion taxpayer-funded bailout pool to help struggling U.S. automakers. Paulson and Federal Reserve Chairman Ben Bernanke were on Capitol Hill ...

GM to sell remaining Suzuki stake - Financial Times
General Motors is to sell its 3 per cent stake in Japan’s Suzuki Motor for Y22.4bn ($231m), in an effort to shore up its fast-dwindling cash reserve. The carmaker warned this month that it would approach the minimum $11bn to $14bn it needs in cash ...

Retail sales sink as Dems seek auto industry loans - Newsweek
(NEW YORK) The worst monthly drop on record for retail sales set off new alarm bells about the economy Friday, stepping up pressure on policymakers to figure out how to combat what increasingly looks to be a severe recession. Confronting opposition ...

Beaumont Hospitals to announce turnaround plan - Detroit Free Press
Beaumont Hospitals, long one of the Detroit area’s most financially healthy hospital systems, will announce a financial turnaround plan today, it said in a statement. The hospital system declined further details prior to a 2 p.m. news conference ...

Almost Fired - Slate
The Washington Post leads with word that the two top intelligence officers in the country expect that President-elect Barack Obama won't keep them around for very long , even though they appear eager to stay in their current jobs. There seems to be a ...

Today's Mortgage Terms starting with N

Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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