Papering over the problem: killing the dollar to save Bear Stearns.
AS THE NEWS BROKE on March 14 that the Federal Reserve would backstop the rescue of Bear Stearns by JPMorgan Chase, it's unlikely that many of the drivers paying record-high prices at the gas stations off the West Side Highway thought to glance toward midtown, where two sleek towers...

What would George Bailey Do? Any plan to right the housing market should put families first.
HENRY POTTER: Have you put any real pressure on these people of yours to pay those mortgages? PETER BAILEY: Times are bad, Mr. Potter. A lot of these people are out of work. POTTER: Then foreclose! BAILEY: I can't do that. These families...

Nonprofit IPO Launched by Warren Buffett Hits One Year.
ENTERTAINMENT CLOSE-UP-20 May 2008-Nonprofit IPO Launched by Warren Buffett Hits One Year(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com The first-ever nonprofit IPO, launched a year ago with help from investor Warren Buffett, celebrates its first anniversary with more than $700,000 raised from the sale of "fundraising shares," priced at...

Fannie Mae/Freddie Mac uniform mortgage instruments: the forgotten benefit to homeowners.
I. INTRODUCTION Fannie Mae and Freddie Mac are the giants of the home mortgage industry. Today they own or guarantee about forty percent of outstanding home mortgage debt in the United States. (1) In addition, their uniform mortgage instruments document the great majority of home mortgage loans....

What [pounds sterling]32 can do in Ghana: Tamsin Morrison reports on how a [pounds sterling]32-loan given to a Ghanaian woman, Esther Nyamekye, by Opportunity International in 1997 has dramatically changed her life. The then struggling Esther has now been able to send all her seven children to school, and two are now at university.
Esther Nyamekye, a 49-year-old mother of seven, who runs a batik fabric-dying business in Kumasi Central Market in Ghana, was the guest of honour at a fundraising reception hosted by Marks & Spencer Money in Chester, UK, on 24 November in aid of Opportunity International, one of the world's...

SEC approves Banco de Oro, Equitable PCIBank merger.
Byline: ANA MARIE MACUJA The Securities and Exchange Commission (SEC), headed by Chairperson Fe B. Barin, has approved the merger of Banco de Oro Universal Bank and Equitable PCI Bank with BDO as the surviving entity. Under the merger, the surviving corporation will be renamed...

BDO buys UOB Phils. bank branches.
Byline: LEE C. CHIPONGIAN Banco de Oro Universal Bank and United Overseas Bank Limited of Singapore yesterday concluded a share-swap arrangement under which BDO will acquire the 66 branches of OUB Philippines. UOB head office in the meantime will acquire shares in BDO, according to...

P/$ rate closes at P52.39 to $ 1.
The peso rate closed lower at P52.39 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.32 the previous day. The weighted average rate depreciated to P52.456 from P52.24. Total volume amounted to $ 383.7 million. NG likely...

NEWS IN BRIEF; P/ $ rate closed at P52.39 to $ 1.
The peso rate closed at P52.39 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P52.456. NDC to auction P2-B bonds The National Development Company (NDC), will auction P2-billion worth...

How the Cleaver family destroyed our S&Ls; low mortgages, high CD rates, and money market funds allowed Americans over 40 to take the rest of us to the cleaners.
How the Cleaver Family Destroyed Our S&Ls After a fair amount of confusion over which vague entity ("deregulation," "campaign finance") deserved the blame for the $500 billion savings and loan crisis, congressional leaders and the press are helpfully trying to focus the nation's resentment on one of two...