Barclays, Royal Bank of Scotland and HSBC routinely breached their own mortgage-lending rules and bullied surveyors into wildly inflating valuations of American properties in the run up to the credit crunch, it has been claimed... more
Finance: US regulators look set to bow to political and public pressure and block millions of dollars in severance payouts to the chiefs of sticken mortgage finance firms Freddie Mac and Fannie Mae... more
Barack Obama has turned his attention on the big pay-offs tipped for senior executives at mortgage finance giants Freddie Mac and Fannie Mae which are being bailed out by public money... more
Profile: Nationalising America's mortgage backers was a hugely bold move for a right-wing US Treasury Secretary. We may all have reason to be grateful to Hank Paulson... more
The accounts at Fannie Mae and Freddie Mac were described as a "house of cards" by a senior US Republican senator just as the first class action was being filed... more
Markets: The London Stock Exchange said yesterday's breakdown was down to a software fault rather than high trading volumes as it returned to business as usual... more
It was inevitable the financial sector would lead the charge on the stock market today, in response to the US Government’s decision to rescue mortgage lenders Fannie Mae and Freddie Mac with a cash injection in excess of £100 million... more
The political cycle in the United States played a key part in the decision to rescue Fannie Mae and Freddie Mac, with the US Treasury saying that the final fate of the pair would be determined by the next administration... more
As Sarah Skelding's situation demonstrates, the problem of the housing crisis is not the difficulty in getting mortgage finance, but the fact that houses are grossly over-priced... more
The worse than expected fall in profits at Lloyds TSB and heavy bad debt charge is further evidence of the scale of damage done by the credit crunch to high-street lenders... more
The search is on in the City and Mayfair for the holders of up to £15 billion of bonds held in Fannie Mae and Freddie Mac, the distressed US mortgage giants... more
As the American economy continues its steep decline and banks and other institutions fall victim to the Credit Crunch, Henry "Hank" Paulson is shaping up to be a true super-hero... more
You may not have heard of the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation, but if you haven't heard of Fannie Mae and Freddie Mac, the nicknames for these two vast businesses, you certainly will... more
Sound check: German industrial metal band Rammstein literally play with fire in their live performances - and now they are about to unleash their singeing spectacle on London. Watch out for your eyebrows
Morning:
6°c
