Senators have reached an agreement to end Sen. Jim Bunning’s filibuster of a $10 billion package that extends benefits for unemployed workers and pays for road projects, Bunning’s office and Democratic officials said.
The agreement calls for senators to vote later Tuesday night on both the extensions and an amendment proposed by the Kentucky Republican to [...]
Archive for March, 2010
Bunning’s Talk Stopped
Tuesday, March 2nd, 2010Freddie Says Bye-Bye to Interest Only
Monday, March 1st, 2010Freddie Mac will be eliminating its Interest Only product. At that time the company announced that on or about September 1, it will cease purchasing and securitizing IO mortgages, including Freddie Mac Initial Interest fixed-rate and adjustable-rate mortgages. As agents and brokers know, what Fannie or Freddie do, the other usually follows, and with them, [...]
Freddie And Fannie, Changes and Losses
Monday, March 1st, 2010Fannie Mae reported a $72 billion net loss for 2009, $15 billion in the 4th quarter, and greater than the $59 billion the company lost in 2008. Fannie said it asked the U.S. Treasury for another $15.3 billion to stay afloat, bringing its total bailout tab past $76 billion. (Freddie Mac lost $6.5 billion in [...]
AIG Sells Asian Life Insurance Business
Monday, March 1st, 2010AIG said Monday that it had reached a definitive agreement to sell its Asian life insurance business to Britain’s Prudential PLC in a deal valued at $35.5 billion.
The deal includes $25 billion in cash, which AIG says is the largest cash proceeds it’s received from any sale during its current restructuring efforts…Under the terms of [...]
