Word: mortgagee
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With the job outlook grim, unemployed workers received an unexpected boost this week as President Obama signed legislation authorizing a six-month extension of the COBRA health care subsidy program that was part of the economic stimulus bill passed in February. "That makes me pretty happy," says Don Hall, 56...
To be sure, Citi's potential losses in Dubai are not enough to bring down the bank. Citi has $2 trillion in assets. And the Dubai losses look puny compared to huge hits the bank took in subprime lending and the mortgage market in general. But Citi was far more...
What's more, Citi's bid to expand in the Middle East at a time when the U.S. and the rest of the world was entering a financial crisis appears to be yet another management blunder for what was once the world's largest bank. It's also likely a...
The housing crisis, too, is a political sore point. Last week Treasury announced the initial results of its program to rewrite troubled residential loans. So far, of the more than 3 million past due loans at banks participating in the government's $75 billion loan-modification program, just slightly more...
Other holiday-card designers are downright caustic. Order of St. Nick, based in Davenport, Iowa, has a Depressing Times section, which includes a card with a stark black-and-white photo of a man with tattered clothing, a dirt-smudged face and a thought bubble that reads, "The more I...