Six Democratic House leaders who deal with financial services issues, including Rep. Barney Frank, D-Mass., Friday expressed “outrage” over a news report that some hedge funds have tried to convince companies that service mortgages not to take advantage of legislation aimed at reducing foreclosures, because it would hurt their mortgage investments.
Great Britain’s second largest life insurer, Prudential PLC, is considering buying some of American International Group Inc.’s business units.
The price of an ounce of gold for December delivery increased more than 2% in Friday trading, following a decrease of more than $190 .
The Department of the Treasury has begun to purchase stakes in several regional banks as the government aims to halt the freeze of the credit markets,
More than 50 letters that contained threats and an unidentified white powder have been mailed to U.S. financial institutions and government offices.
The Treasury Department wants insurance companies to participate in its $700 billion bailout program —and it may take equity stakes in return.
AIG has borrowed $90.3 billion from the federal government, surpassing its original $85 billion rescue loan.
Home sales increased 5.5% last month from August and 1.4% from a year earlier to a seasonally adjusted rate of 5.18 million units, according to the NAR.
U.S. equities plummeted at the open, sparked overnight by news that Sony reduced its 2009 forecast while Toyota Motor Corp.'s third-quarter sales contracted.
In another sign that the housing turmoil continues to deepen, foreclosure activity surged more than 70% in the third quarter from the same period a year ago, according to the latest data from RealtyTrac of Irvine, Calif.
