Word: cnbc
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Dates: during 2000-2009
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...homes are at risk of sinking into foreclosure by the end of 2012. That number has no precedent, and its impact is only beginning to register. Populist pundits have struck a nerve with angry denunciations of Obama's plan. "See if we really want to subsidize the losers' mortgages," CNBC's Rick Santelli demanded - and the gut level reaction of millions of taxpayers across the country was, unquestionably, no. Not if we have a choice. (Read: "How to Fix the Housing Market...
...According to CNBC, AIG is about to post another huge loss. "Sources close to the company said the loss will be near $60 billion due to writedowns on a variety of assets including commercial real estate." The financial channel also reports that the need for capital may be so great that AIG might have to enter Chapter 11, something the government has spent over $130 billion trying to prevent. (See pictures of the Top 10 scared traders...
...program is voluntary, there are early signs that it might be the kick in the pants needed to get servicers to more aggressively rewrite loans. At a mortgage bankers' conference in Tampa, Fla., on Wednesday, servicers praised the incentive structure, and Jamie Dimon, CEO of JPMorgan Chase, went on CNBC to say he thought the plan would "lead to a lot more modifications." An earlier effort to spark loan rewrites proved to be a flop, but the Administration thinks this new program could reach 3 million to 4 million homeowners. The plan also includes an endorsement of the idea that...
...Before explaining the nuts and bolts of Strata's structure, it may be wise to put down your Blackberry, mute your CNBC program and turn down your iPod. This stuff is very tricky, perhaps far more so than any investment should be. That's part of the problem. (See the worst business deals...
Obama advisers say there is still plenty of time to create a bill that can attract more Republican support. "I think you will see it get better," Vice President Joe Biden said in an interview Thursday on CNBC. "And I also think you will see Republicans voting for it." House Republican leaders also claim to be optimistic that a better compromise can be created. Just hours after the House vote Wednesday night, Representative John Boehner, who leads the GOP caucus, joined Obama at a White House cocktail reception. According to aides, Boehner told the President not to take the House...