Word: firms
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...billion in government funds. But it may soon have competition. Last week mortgage giant Freddie Mac said it had lost $50 billion in 2008 alone. A look at the company's books suggests the government will have to spend at least triple that much to save the financial firm from collapse. If the housing market worsens, the tab could be even larger...
Freddie's business, which in part comes from a government mandate, is insuring mortgages. So when borrowers lose their jobs, as many now are, Freddie is going to lose money. But only a quarter of Freddie's red ink, or about $13 billion, comes from mortgage-insurance woes. The firm took a larger hit from its investment in mortgage-backed securities tied to subprime, adjustable-rate or jumbo mortgages. By law, Freddie isn't allowed to insure against losses on those types of mortgages, in part because they are riskier. But it bought securities tied to those home loans anyway...
...this year, she said. “The economy’s sinking, and we weren’t surprised,” Mount said. Students shared similar sentiments about the shrinking job market. Tracy L. Meng ’10 said she secured an internship with a consulting firm this summer, but said that this year’s job process had been especially difficult. “It’s been tough, and I’ve been grateful to have an offer,” she said. “I think that eRecruiting...
...White House scrambled on Monday to get ahead of the latest outrage stemming from the bailout of failed corporate behemoth American International Group (AIG): $165 million in bonus pay for executives in one part of the firm, which is now 80% controlled by American taxpayers...
...person financial products division, the London-based unit largely responsible for the company's debacle involving bad bets insuring mortgage-backed securities. Overall, however, three separate, AIG-wide retention and bonus payments due to start later in March will spread some $1.2 billion among roughly 6,400 of the firm's 116,00 staff. Seven people at the financial products unit are in line for more than $3 million in extra 2008 compensation...