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Friday, March 26
Fred Harteis News Articles- Under Pressure on Foreclosures, White House Pledges Aid
by
maba
on Fri 26 Mar 2010 04:27 PM EDT
Fred Harteis News Articles - The Obama administration on Friday announced broad new initiatives to help troubled homeowners, potentially refinancing millions of them into fresh government-backed mortgages with lower payments.
Another element of the program is meant to temporarily reduce the payments of borrowers who are unemployed. Additionally, the government will encourage lenders to write down the value of loans held by borrowers in modification programs to make their mortgages more affordable.
The escalation in aid comes as the administration is under rising pressure from Congress to resolve ... more »
Wednesday, March 24
Fred Harteis News Articles- Financial Overhaul Is Next Priority of Democrats
by
maba
on Wed 24 Mar 2010 03:21 PM EDT
Fred Harteis News Articles - Buoyed by passage of landmark health care legislation, the Obama administration and Democrats in Congress said Wednesday that an overhaul of financial regulations was the next legislative priority.
The legislation appeared to be gaining momentum, as two crucial Republicans on the Senate Banking Committee, Judd Gregg of New Hampshire and Bob Corker of Tennessee, said they expected the overhaul to pass this year even though they had concerns about some of its provisions.
A Democratic strategy appeared to be emerging: expressing confidence that ... more »
Thursday, October 1
Fred Harteis News Articles - U.S. Consumer Spending Jumps; Jobless Claims Up
by
maba
on Thu 01 Oct 2009 11:19 AM EDT
Fred Harteis News Articles - The government’s “cash for clunkers” program jump-started personal spending in August as car buyers took advantage of taxpayer-financed rebates, the government reported on Thursday.
The 1.3 percent spike in spending was the largest in nearly eight years, but economists said it was not the foundation for any long-term rebound in the consumer sector. The government’s $3 billion clunkers program has ended, and automakers are bracing for a drop in September sales from a month earlier.
With consumers still worried about losing their jobs ... more »
Monday, September 14
Fred Harteis News Articles - On Wall Street, Obama Pushes Stricter Finance Rules
by
maba
on Mon 14 Sep 2009 11:49 AM EDT
Fred Harteis News Articles - President Obama came to Wall Street on Monday to tout how the nation’s economic outlook has improved from a year ago, but he called on Congress to pass stronger financial regulations this year, as he offered a sharp admonition that “there are some in the financial industry who are misreading this moment.”
“Instead of learning the lessons of Lehman and the crisis from which we are still recovering, they are choosing to ignore them,” Mr. Obama said in a speech at Federal Hall in Lower ... more »
Wednesday, August 12
Fred Harteis News Articles- Batting Helmet is Safer, but Players Hate the Look
by
maba
on Wed 12 Aug 2009 01:32 PM EDT
Fred Harteis News Articles - Three weeks after absorbing the potentially deadly impact of a 93-mile-per-hour fastball on his batting helmet, Edgar Gonzalez still feels dizzy whenever he lies down. Because of the lingering effects of a concussion, Gonzalez, a second baseman for the San Diego Padres, has not played since that experience. When he finally returns, it may be with the newest protective device that could one day come to define the look of a major league batter.
Rawlings is about to introduce its newest batting helmet, the ... more »
Tuesday, August 4
Fred Harteis News Articles - Higher Costs Spur Rise in U.S. Consumer Spending
by
maba
on Tue 04 Aug 2009 12:59 PM EDT
Fred Harteis News Articles - The broader economy may be testing the bottom, but for American consumers, there appears to be no end yet in sight for falling wages and higher living expenses.
That was the picture painted Tuesday by the government’s monthly report on personal incomes and consumer spending. While consumers spent more in June, they did so because prices of food and energy were rising, and not because they were ready to spend freely again.
Personal incomes sagged as employers continued to cut wages and reduce ... more »
Thursday, June 11
Fred Harteis News Articles - U.S. Pressured Bank to Buy Merrill Lynch, Executive Says
by
maba
on Thu 11 Jun 2009 01:51 PM EDT
Fred Harteis News Articles- Kenneth D. Lewis, the chief executive of Bank of America, testified before a congressional committee on Thursday that he was pressured by the government late last year to purchase Merrill Lynch.
But, he said, without the government pressure, the bank still might have completed the deal.
“It’s hard for me to project what I ultimately would have done,” Mr. Lewis said when asked if he would have walked away from the Merrill Lynch purchase. “But, yes, we were strongly considering it.
The ... more »
Wednesday, June 3
Fred Harteis News Article- Inspector Predicted Problems a Year Before Buffalo Crash
by
maba
on Wed 03 Jun 2009 10:02 AM EDT
Fred Harteis News Articles - More than a year before Colgan Air crashed a twin-engine turboprop on approach to Buffalo, Christopher J. Monteleon told his superiors at the Federal Aviation Administration that the airline was going to have trouble flying that model. As an F.A.A. inspector, Mr. Monteleon was in the cockpit when the airline got its first such plane, a Bombardier Dash 8 Q400, and put it through a series of test flights.
Three times, he said, the pilots flew the airplane faster than the manufacturer’s specifications allowed, ... more »
Tuesday, May 19
Fred Harteis News Articles- Obama to Toughen Rules on Emissions and Mileage
by
maba
on Tue 19 May 2009 11:05 AM EDT
Fred Harteis News Articles- Obama to Toughen Rules on Emissions and Mileage
Fred Harteis News Articles- President Obama will announce tough new nationwide rules for automobile emissions and mileage standards on Tuesday, embracing standards that California has sought to enact for years over the objections of the auto industry and the Bush administration.
The rules, which will begin to take effect in 2012, will put in place a federal standard for fuel efficiency that is as tough as the California program, while imposing the first-ever limits on ... more »
Thursday, May 7
Fred Harteis News Articles - Iraqi Forces; Rebuilt and Stronger, but Still Stumbling
by
maba
on Thu 07 May 2009 04:14 PM EDT
Fred Harteis News Articles - Iraq’s security forces, despite significant improvements, remain hobbled by shortages of men and equipment, by bureaucracy, corruption, political interference and security breaches that have resulted in the deaths of dozens of Iraqi and American troops already this year, according to officials from both countries.
The security forces are not on the verge of collapse. American officers who work closely with Iraqi forces emphasize the progress that has been made from the days when Iraqi security forces barely functioned, and point to a rising ... more »
Wednesday, May 6
Fred Harteis News Articles - Bank of America Needs $33.9 Billion Cushion, U.S. Says
by
maba
on Wed 06 May 2009 03:48 PM EDT
Fred Harteis News Articles - The government has told Bank of America it needs $33.9 billion in capital to withstand any worsening of the economic downturn, according to an executive at the bank.
If the bank is unable to raise the capital cushion by selling assets or stock, it would have to rely on the government, which has provided $45 billion in capital through the Troubled Asset Relief Program.
It could satisfy regulators’ demands simply by converting non-voting preferred shares it gave the government in return for the capital, ... more »
Thursday, March 19
Fred Harteis News Articles - House Passes Bill to Punish A.I.G. Bonus Recipients
by
maba
on Thu 19 Mar 2009 10:57 AM EDT
Fred Harteis News Articles - Spurred on by a tidal wave of public anger over bonuses paid to executives of the foundering American International Group, the House voted 328 to 93 on Thursday to get back most of the money by levying a 90 percent tax on it.
The measure easily surpassed a procedural hurdle requiring a two-thirds majority vote, thanks to considerable Republican support. The Senate will consider a roughly similar measure, perhaps next week. If something is approved in that chamber the House and Senate versions would ... more »
Friday, January 9
Fred Harteis News Articles -Jobless Rate Hits 7.2%, a 16-Year High
by
maba
on Fri 09 Jan 2009 02:33 PM EST
Fred Harteis News Articles - With the recession in full swing, the nation’s employers shed 524,000 jobs in December, the government reported Friday, and a rapidly deteriorating economy promised more big losses in the months ahead. December’s job losses brought the total for 2008 to 2.6 million, spanning a recession that started 12 months ago.
The unemployment rate jumped to 7.2 percent in December from 6.8 percent in November and 5 percent last April, when the recession was four months old and just beginning to bite. More than 11 million ... more »
Thursday, January 8
Fred Harteis News Articles- Obama Presses for Action on the Economy
by
maba
on Thu 08 Jan 2009 01:34 PM EST
Fred Harteis News Articles - President-elect Barack Obama on Thursday urged Congress to act quickly to pass sweeping economic stimulus measures, including a tax cut and an infusion of as much as $800 billion, or face the likelihood that “this recession could linger for years.”
In making an unusually direct and high-profile appeal in remarks at George Mason University in northern Virginia, Mr. Obama was building on a campaign for swift economic action that he has conducted for weeks — each time in ever-sharper terms.
Every day ... more »
Wednesday, January 7
Fred Harteis News Article - Obama Warns of Trillion-Dollar Deficit Potential
by
maba
on Wed 07 Jan 2009 10:14 AM EST
Fred Harteis News Article - President-elect Barack Obama on Tuesday braced Americans for the unparalleled prospect of “trillion-dollar deficits for years to come,” a stark assessment of the budgetary outlook that he said would force his administration to impose tighter fiscal discipline on the government.
Mr. Obama sought to distinguish between the need to run what is likely to be record-setting deficits for several years and the necessity to begin bringing them down markedly in subsequent years. Even as he prepares a stimulus plan that is expected to total ... more »
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