Bailout Of GSEs Will Do Nothing To Rein In Reckless Risk-Taking Aug 8, 2008
The last time Congress tried to push off and not deal with an impending and growing liability, we were rewarded with the savings and loan crisis, which was a huge draw on the taxpayer's purse. These recommendations are by no means meant to be comprehensive, but merely a starting point for a dialogue regarding Fannie's and Freddie's future. (Investors Business Daily)
Mass. Pension Loses Trust In Legg Mason Aug 7, 2008
Fetting believes that the 58-year-old Miller, who suffered during the savings and loan crisis and then came roaring back when financials started to perform better, is well positioned for a repeat. Soon after Fetting s vote of confidence, Legg released a study they hoped would shore up investor confidence. (Forbes -- Business)
ALL BUSINESS: Know Bank Deposit Insurance Rules Aug 6, 2008
There are nearly 8,500 banks and savings and loan institutions in this country, and so far this year, eight have gone under, the largest being IndyMac. That's up from three failures last year and none in 2006, according to the Federal Deposit Insurance Corp., or FDIC, which backs deposits at the nation's banks. (ABC News -- Wire)
Hudson City's Hermance Says Credit Crunch Is Less Severe Than 1990s Crisis Aug 6, 2008
Aug. 5 (Bloomberg) -- Chief Executive Officer , who built the company into the largest U.S. savings and loan amid a worldwide credit crunch, said the current crisis isn't the worst he's seen ... Delinquencies aren't ``anywhere near'' the level that fueled the savings and loan collapse of the late 1980s and early 1990s, he said ... Hermance began his 34-year career in banking as a branch manager, working his way up to running originations at the now- defunct Home Federal Savings and Loan in East... (Bloomberg)
ABA says community banks are safe Aug 5, 2008
In fact, during the Savings and Loan (Ssis of the late 1980s and early 1990s, there were approximately 1,500 banks on the FDIC problem list. According to FDIC former Chairman William Seidman, there are about 8,500 banks in the United States, and currently there are about 90 banks on the FDIC list. (Thomaston Times, GA)
Hakim Akbar Reflects on his Life, Part 1 Aug 4, 2008
He and Mikal saw their father arrested and sentenced to eight years for armed robbery of a nearby savings and loan. This situation infuriated Mikal and tore Hakim apart and rendered him sullen. (Dawgman.com)
Politics: POW status was key factor in McCain's first race Aug 4, 2008
It cemented his reputation as a tireless campaigner and set the stage for things that would come back to haunt him, including his troubled relations with GOP conservatives and his ties to Charles Keating, a savings and loan financier later convicted of securities fraud ... In this period, McCain met Keating, a real estate developer who was later convicted of securities fraud after a thrift institution he owned failed during the savings and loan crisis. (San Diego Union-Tribune)
Chic restaurant off to slow start despite subsidy Aug 3, 2008
"I think that's what some people have not fully grasped."The city paid $8 million in 2003 to purchase the 10-story building at One Exchange Plaza, the former home of Raleigh Federal Savings and Loan. The upper floors are filled with employees of Raleigh's planning, inspections, utilities and development services departments. (News & Observer)
LETTERS: NCT, Aug. 1, 2008 Aug 2, 2008
"The same could be said of John McCain, sdraoul or me. Obama never claimed any great history with the currency. He alluded to the fact that he did not look like any of the men on the currency. Neither does anybody else. Bye the way, when is the likeness of an American heroine going to adorn one of our paper currencies? She whomever it will be does not look like any of the men on the bills. wrote on Aug 1, 2008 11:06 AM:sdraoul: Obama does not have to pander for the black vote. Polls show that he... (North County Times)
Obama could help America's reputation Aug 2, 2008
Remember what caused the Savings and Loan scandal. You got it: our federal government. (NJ.com -- Times)
4-H Sale of Champions held at close of annual 4-H Fair Aug 2, 2008
Donors include ADM, Diller-Rod Inc., First State Bank of Van Orin, Rod Pioneer Sales, Van Orin Co-op Oil Co., First Federal Savings and Loan Association of Kewanee Princeton branch, Amboy Veterinary Clinic, Animal Care Clinic, Pioneer Hi-Bred International Inc., Pioneer Research, Rick Rokosz - Heritage Seeds, Diener Seeds, Morton Fertilizer, Amcore Bank, United Feeds, D & B Morton Fertilizer Inc., Bureau Valley Veterinary Service, Green River Veterinary Service, Becker Grain & Feed, Trego... (Princeton Bureau County Republican, IL)
Housing plan signed, but concerns linger Aug 1, 2008
The two companies were created, Fannie in the 1930s and Freddie in 1970 after the savings and loan debacle, to boost home ownership by increasing liquidity in the mortgage market ... Ely, an expert on the savings and loan crisis who predicted in 2000 that the mortgage giants posed a systemic risk to the economy, said the companies are "in police custody, so to speak." But he urged Congress to take the companies private once the housing market bottoms out. (San Francisco Chronicle)
Distinguished Brenham alumni selected Jul 31, 2008
Picone began his career as an accountant with Texaco Inc. in Houston, and then spent 26 years in the savings and loan industry before being employed by Blinn College 17 years ago. He presently serves as executive director of the Blinn College Foundation. (Brenham Banner, TX)
Hemet family says bank withheld money to bury son Jul 31, 2008
Their complaint says the Hemet branch of Downey Savings and Loan refused to waive a 10-day hold on the checks, even when Retmier's grandfather showed up with a newspaper article on his grandson's death. The family finally managed to get the money elsewhere. (KRNV.com, NV)
WaMu's Bloated Asset Values Don't Fool Investors: Jonathan Weil Jul 31, 2008
of the Seattle-based savings and loan have fallen 89 percent the past year to $4. 43, leaving the company with a $7. (Bloomberg -- Columnists)
Financial vulture swoops in for the pickings Jul 30, 2008
John Grayken made a fortune buying investments no one else seemed to want during the U.S. savings and loan debacle in the early 1990s ... Grayken, 52, made his mark buying bad mortgages from Resolution Trust, the government-owned asset management company that liquidated assets of failed savings and loans associations during the early 1990s ... Grayken cut his teeth running Brazos, an entity formed by the Resolution Trust and Bass to buy up and work out troubled mortgages from savings and loans. (International Herald Tribune -- Business)
A Deal At Merrill Puts Spotlight On Others Jul 30, 2008
John P. Grayken made a fortune buying investments no one else seemed to want during the savings and loan debacle in the early 1990s ... Mr. Grayken cut his teeth running Brazos, an entity formed by the Resolution Trust Corporation and Mr. Bass to buy up and work out troubled mortgages from savings and loans. (Atlanta Journal-Constitution -- Business)
If McCain were a Democrat ... Jul 29, 2008
Costly friendship McCain was one of the Keating Five senators who intervened with federal regulators on behalf of Lincoln Savings and Loan head Charles Keating Jr, a six-figure campaign contributor and, in McCain's case, a business partner with his wife and father-in-law. The late 1980s-early 1990s savings and loan crisis cost US taxpayers more than US$100 billion. (Asia Times Online)
U.S. Senate approves a wide, deep property 'safety net' Jul 28, 2008
Politics aside, the measure approved by Congress was the most aggressive government intervention in the housing market since the 1989 response to the savings and loan crisis and perhaps the boldest attempt to aid troubled borrowers since the creation of the Home Owners' Loan Corp. in 1933. In addition to the program to prevent foreclosures and the rescue plan for Fannie Mae and Freddie Mac, the bill contains a sweeping new regulatory structure for the mortgage giants, including the creation of... (International Herald Tribune -- Business)
Home sales in U.S. bring back slump Jul 28, 2008
Washington Mutual, the biggest US savings and loan, slumped 35 percent to 3. 84 dollars last week on concern that the lender may need to raise cash. (Xinhuanet, China)
Thriller strips bare subprime culprits Jul 28, 2008
Next up: Chain of Blame, a ripping piece of reporting that shows how subprime mortgage lending rose amid the ruins of the savings and loan crisis in the late 1980s and early 1990s, slithered throughout the financial system, and ended with about 1 million Americans losing their homes ... Muolo, the executive editor of National Mortgage News, has tracked the industry for years and is the co-author of a bestseller on the savings and loan crisis, Inside Job ... Next up: Chain of Blame, a ripping... (Business Report, South Africa)
Ramos to drive Transnet's growth plan Jul 28, 2008
Online Edition Powered By IOL. Johannesburg - Transnet had started working on a growth plan to replace its turnaround strategy and chief executive Maria Ramos had agreed to stay on to implement it, the logistics parastatal said on Friday. (Business Report, South Africa)
Board yet to contact firms in Sentula probe Jul 28, 2008
Business Report - Board yet to contact firms in Sentula probe. Online Edition Powered By IOL. (Business Report, South Africa)
* FDIC closes First Heritage Bank Jul 27, 2008
On July 11, federal regulators stepped in and seized the assets of a savings and loan, IndyMac Bank, after the mortgage lender succumbed to problems from the tight credit markets and mortgage foreclosures. It was the second-largest bank failure in US history, the government said. (Taipei Times, Taiwan -- World)
On Your Mind Jul 27, 2008
First National Bank wrote on Jul 26, 2008 7:26 AM:" First National of Nevada buys First National of Arizona and then goes under. This smells like Neil Bush and Silverado Savings and Loan all over again. I remember soldiers in the Gulf War losing thier houses while they were deployed. ". Larry Talbot wrote on Jul 25, 2008 10:25 PM:" Two more Banks today, the Bush Depression is upon us. America is Bankrupt and existing on borrowed money. Soon they will pay this $9 Trillion Dollar debt the way all... (Sierra Vista Herald, AZ)
Economic woes hit U.S. credit card business Jul 27, 2008
NEW YORK Even as Washington Mutual Inc. lost billions of dollars from risky mortgages, the largest U.S. savings and loan could rely on its credit card business to turn a profit. No longer. (Globe and Mail -- Business)
Problem banks: What you need to know Jul 27, 2008
So far this year, seven banks have failed - a far cry from the turbulent times of the savings and loan crisis of the early 1990s, when more than a thousand institutions shut down. Why is the list not made public. (CNNMoney.com)
Banks rally as CEOs hold off on issuing shares Jul 26, 2008
It has rebounded from the savings and loan crisis in the 1980s, and the 1990s began with huge losses from ill-fated real estate loans and then the collapse of Long-Term Capital Management at the end of the decade. There was no swift rebound in the financials after each of these periods, and analysts don't expect it will be any different in recovering from the credit crisis. (Anchorage Daily News)
FDIC Takes Over 2 Western Banks Jul 26, 2008
On July 11, federal regulators stepped in and seized the assets of a savings and loan, IndyMac Bank, after the mortgage lender succumbed to problems from the tight credit markets and mortgage foreclosures. It was the second-largest bank failure in U.S. history, the government said. (CBS News -- 60 minutes)
Flatbush Federal Bancorp, Inc. Reports 2008 Second Quarter Operating Results Jul 25, 2008
BROOKLYN, N.Y., July 24 /PRNewswire-FirstCall/ -- Flatbush Federal Bancorp, Inc. (the "Company") (OTC Bulletin Board: FLTB), the holding company of Flatbush Federal Savings and Loan Association (the "Association"), announced consolidated net income of $9,000, or $0. 003 per share for the quarter ended June 30, 2008 as compared to net income of $2,000, or $0. (PR Newswire)
Alarm Over WaMu Jul 25, 2008
Shares of the Seattle-based savings and loan plunged 19. 1%, or 89 cents, to $3. (Forbes -- Markets)
WaMu Shares Fall as Credit Concerns Grow Jul 25, 2008
4 percent and the cost to insure its debt against default rose after an analyst said some creditors reduced their exposure to the largest U.S. savings and loan. Citing the Seattle-based thrift's financial statements for the period ending June 30, Gimme Credit analyst Kathleen Shanley wrote that "many creditors have quietly been pulling funds" from the company. (ABC News -- Wire)
U.S. stocks drop sharply; banks lead decline Jul 25, 2008
Financial shares, coming off a six-session winning streak, plunged after the regional bank National City and Washington Mutual, America's biggest savings and loan, were besieged by gloomy analyst reports. WaMu was forced to take the unusual step of issuing a public statement about its financial strength, for the second time in a week. (International Herald Tribune -- Business)
European bank stocks have tumbled 40 percent in past year but may well fall further Jul 25, 2008
" On the face of it, stocks would appear to have fallen to extremely low levels. Analysts say financials trade at a 22 percent discount to the broader market's price/earnings ratio, but they added that this is small compared to the discount during the fallout the savings and loan crisis in the 1990s. Noddings said that the discount to the market reached 40 percent in that crisis. "Very roughly," he said, "banks are valued at 20 percent higher than they were at the rock bottom then. "Broadly... (International Herald Tribune -- Business)
Overview: Bond yields rise on recession fears Jul 25, 2008
Fresh jitters over US financials were stoked when Gimme Credit, the research firm, said Washington Mutual, the largest US savings and loan institution, was enduring a funding squeeze from the market. You have viewed your allowance of free articles. (FT.com -- Markets)
Money fund assets rose to $3.507 trillion Jul 25, 2008
com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money market accounts was unchanged at 0. 72 percent from the week earlier. (San Diego Union-Tribune -- Business)
Affiliated Managers results fall 16% Jul 24, 2008
Inc., the second-largest US savings and loan by assets, rose in New York trading after second-quarter profit beat analysts' estimates. Net income declined 14 percent to $127. (Boston Globe)
Downey Financial Corp. Declares Quarterly Dividend Jul 24, 2008
6 billion, is the parent company of Downey Savings and Loan Association, F.A., which has 169 branches throughout California and five in Arizona. SOURCE Downey Financial Corporation. (PR Newswire)
Why wasn't IndyMac on FDIC problem list? Jul 24, 2008
Highline and Bankrate both use a rating system similar to the so-called CAMELS system used by federal regulators including the FDIC, which regulates banks, and the Office of Thrift Supervision, which regulates savings and loans ... Although it has been growing for five straight quarters, regulators say the problem list is much smaller than it was during the savings and loan crisis. (San Francisco Chronicle -- Business)
* Fannie, Freddie and faith in the US markets Jul 24, 2008
Still, this weeks congressional debate on the issue is going to worry people, Schuler said, though she, like most analysts, is confident that Washington will deliver, just as it has in past financial crises, like the savings and loan industry bailout of the late 1980s and early 1990s. Because the US relations with a host of countries are intricately tied to Fannie Mae and Freddie Mac, the only realistic option open to lawmakers may be to hand the Treasury Department that blank check,... (Taipei Times, Taiwan -- World)
Investors wise to view rally with skepticism Jul 24, 2008
In his report, Mr. Delisle pointed out that the selloff in U.S. financials this time around was greater than that during the savings and loan crisis when U.S. financials lost more than 44 per cent of their value between September, 1989, and October, 1990. He regards the rally in the financials as a rebound from extreme oversold levels. (Globe and Mail -- Business)
Can state's financial firms dodge the bullet? Jul 23, 2008
Savings and loan giant reported a $3. 3 billion quarterly loss and announced a $1 billion cost-reduction program. (Boston Globe)
WaMu 2Q Widely Misses Estimates Jul 23, 2008
The largest savings and loan in the U.S. lost $3. 33 billion, or $6. (Fox News)
Paulson says financial stability is top priority Jul 23, 2008
And Washington Mutual, the nation's largest savings and loan, reported it lost 3 ... In an effort to reassure Americans about the safety of their bank deposits, Paulson said that even with the collapse earlier this month of savings and loan IndyMac Bank, one of the biggest failures in U.S. history, no money was lost on deposits insured by the Federal Deposit Insurance Corp., which insures accounts up to 100,000. (Sioux City Journal, IO)
Investors Question Financial Sector Rebound Jul 23, 2008
Washington Mutual, the nation's largest savings and loan, delivered a further blow, swinging to a $3. 33 billion loss as it boosted its loan loss reserve to more than $8 billion, betting it will have more soured mortgages. (ABC News -- Wire)
Stocks Rise as Oil's Drop Trumps Earnings Jul 23, 2008
After the bell, Washington Mutual, the largest U.S. savings and loan posted a $3. 3 billion second-quarter loss. (ABC News -- Wire)
Washington Mutual reports $3.3-billion loss Jul 23, 2008
NEW YORK Washington Mutual Inc., the largest U.S. savings and loan, posted a $3. 33-billion (U.S.) second-quarter loss Tuesday as souring mortgages forced it to set aside more money for loan losses. (Globe and Mail)
Washington Mutual posts 2Q loss of $3.3 billion Jul 23, 2008
The nation's largest savings and loan increased its loss reserves to more than $8 billion to cover souring loans in its mortgage portfolio. The bank also said Tuesday it will be cutting up to $1 billion in expenses by the end of 2009. (Longview Daily News, WA)
Guess who gets to write the check? Jul 23, 2008
In the 1980s, Congress, for what seemed good reason at the time, deregulated the thrifts -- savings and loan institutions -- and what followed were several intense years of wildly risky speculation in real estate and development, fueled by the creation of new and at the time exotic financing like brokered deposits and the bundling of mortgages for sale to Wall Street. The inevitable bust cost the taxpayers about $125 billion but they and their lawmakers could do little but sigh, write the checks... (Scripps Howard News Wire)
WaMu Shows Paulson Plan for Mortgage Market Rescue Provides Investor Peril Jul 23, 2008
The extra yield on covered bonds sold in Europe by Seattle- based Washington Mutual Inc., the biggest U.S. savings and loan, has jumped 13-fold since the sale two years ago to 3. 16 percentage points over government notes. (Bloomberg)
Is it safe? ... Police make arrest in car-fire case ... Westlund sets a solid goal for the future ... Two more initiatives qualify for Ore. ballot ... News Digest: ... Battle erupts over land use law in Idaho ... ';var marqueewidth="440px";var marqueeheight="25px";var marqueebgcolor="#";////NO NEED TO EDIT BELOW THIS LINE////////////var pauseit=1;var marqueespeed=1 //slow speed down by 1 for NSvar copyspeed=marqueespeedvar pausespeed=(pauseit==0)? copyspeed: 0var iedom=document.all||document.getElementByIdif (iedom)document.write(''+marqueecontent+'')var actualwidth=''var cross_marquee, ns_marqueefunction populate(){if (iedom){cross_marquee=document.getElementById? document.getElementById("iemarquee") : document.all.iemarqueecross_marquee.style.left=parseInt(marqueewidth)+8+"px"cross_marquee.innerHTML=marqueecontentactualwidth=document.all? temp.offsetWidth : document.getElementById("temp").offsetWidth}else if (document.layers){ns_marquee=document.ns_marquee.document.ns_marquee2ns_marquee.left=parseInt(marqueewidth)+8ns_marquee.document.write(marqueecontent)ns_marquee.document.close()actualwidth=ns_marquee.document.width}lefttime=setInterval("scrollmarquee()",20)}window.onload=populate;function scrollmarquee(){if (iedom){if (parseInt(cross_marquee.style.left)>(actualwidth*(-1)+8))cross_marquee.style.left=parseInt(cross_marquee.style.left)-copyspeed+"px"elsecross_marquee.style.left=parseInt(marqueewidth)+8+"px"}else if (document.layers){if (ns_marquee.left>(actualwidth*(-1)+8))ns_marquee.left-=copyspeedelsens_marquee.left=parseInt(marqueewidth)+8}}if (iedom||document.layers){with (document){document.write('')if (iedom){write('')write('')write('')write('')}else if (document.layers){write('')write('')write('')}document.write('')}} Joe Bennett, a teller at Malheur Federal Credit Union, calls a tube in for drive thru banking Wednesday at the Ontario branch, 1695 S.E. Fifth Ave., Ontario. The credit union also has branches in Vale and Payette. The National Credit Union Administration and the Federal Deposit Insurance Corp. insure each depositor up to $100,000 aggregate should a financial institution fail.Is it safe? Jul 23, 2008
While bad investments by savings and loan companies caused the downturn in the 1980s, the diminished housing market contributed this time, Johnson said. You had builders who thought if they continued to build, people would continue to buy, Johnson said, adding when the housing market crashed, people who had bought too big couldn t sell as their interest rates increased. (Ontario Argus Observer, OR)
Roubini: 'Worst' Recession in Decades Ahead Jul 23, 2008
The U.S. is in for the "worst" recession in decades, one that may well be more severe than the downturn that followed the stock market bubble in 2001 and the savings and loan crisis of 1991, says Nouriel Roubini, former Clinton White House economist. In an interview with Bloomberg, Roubini, now a university professor, says the recession will be a result of a downturn in consumer spending. (Newsmax)
Bank Analyst Bove Sued Over Report Jul 22, 2008
The report was dated two days after federal regulators seized IndyMac Bancorp Inc , a large mortgage lending specialist, following a run on that savings and loan. Alan Levan, BankAtlantic's chairman, said in a statement on Monday that BankAtlantic's financial condition showed that the bank did not belong on any list of lenders that might be "next" to fail. (ABC News -- Wire)
Newsweek: Seeing shades of the 1930s Jul 22, 2008
Or will these responses prove a temporary blip, as when the government bailed out the savings and loan industry in the late 1980s ... In the 1980s, the Federal Savings and Loan Insurance Corporation (born 1934), which provided deposit insurance to S&Ls, was overwhelmed when the deregulated thrift industry imploded. (MSNBC -- Business)
A&M Fires Sailing Coach Jul 22, 2008
Atchley didn't disclose he had a federal conviction in 1990 related to the savings and loan scandals of the 1980s. Atchley was responsible for overseeing repair work and maintenance of the Galveston school's fleet. (KWTX.com, TX)
A&M-Galveston sailing coach fired Jul 22, 2008
Texas A&M at Galveston fired James Atchley on Friday for failing to reveal on his 1997 job application that he had a federal conviction seven years earlier related to the savings and loan scandals of the 1980s, said Jay Kimbrough, Texas A&M University System s general counsel and deputy chancellor. A&M System officials stressed that Atchley was fired for failing to disclose his criminal history and not for anything. (KHOU.com, TX)
Naugatuck Valley Savings and Loan profits climb 93% Jul 22, 2008
The Republican-American Naugatuck Valley Savings and Loan profits climb 93 ... An almost $700,000 increase in net interest income enabled Naugatuck Valley Financial Corp., parent of Naugatuck Valley Savings and Loan, to report a 93 percent increase in second-quarter profits, the company said Monday. (Republican-American)
Wachovia, other U.S. banks post dismal results Jul 22, 2008
Washington Mutual Inc , the largest savings and loan, is expected to post a big second-quarter loss after U.S. markets close. The KBW Bank Index fell 1. (San Diego Union-Tribune -- Business)
NEWSWEEK: Media Lead Sheet/July 28, 2008 Issue (on newsstands Monday, July 21) Jul 21, 2008
The question now is, "Will the crisis inspire a fundamental restructuring of the vital, symbiotic relationship between Washington and Wall Street, as happened during the New Deal? Or will these responses prove a temporary blip, as when the government bailed out the savings and loan industry in the late 1980s?" "What Should Uncle Sam Do?" (p. 36) Participants in Newsweek's Business Roundtable assess the damage from the economic crisis and offer solutions. (PR Newswire)
Housing prices haven't hit bottom yet Jul 21, 2008
They've actually held pretty stable considering how turbulent the market around them has been," said Rick Sharga, vice president of RealtyTrac, a large online foreclosure-listing service in Irvine, Calif., that publishes some of the most-cited nationwide foreclosure statistics.Sharga thinks that even if prices continue to decline it's unlikely that prime loans will go the way of so-called sub-prime loans, which are defaulting at record rates."I don't think you are looking at a savings and loan... (Anchorage Daily News)
Jerry Griswell, 77, sheriff's deputy, police chief Jul 21, 2008
"There was a robbery at Tucker Federal Savings and Loan that was a big ordeal," Mrs. Hughes said. "We listened on the police radio down in the den and could hear him running and talking on the radio and shots being fired, until Mama made us turn it off.". (Atlanta Journal-Constitution -- Metro)
FAIR GAME: In the bailout game, the elite and all the rest Jul 21, 2008
IndyMac Bank, one of the largest U.S. savings and loan companies, was closed down by regulators last week. Nevertheless, we are in dangerous territory today where bailouts are concerned, and not only because they feed Americans' suspicions that only the rich and powerful get help in the United States. (International Herald Tribune -- Business)
Is America too big to fail? Jul 21, 2008
There have been recent interventions in America, of course - the taxpayer-backed bailout of Chrysler in 1979, and the savings and loan rescue of 1989. But the first happened under Jimmy Carter, a year before Americans embraced Ronald Reagan and his passion for unfettered markets. (International Herald Tribune)
Overseas investors take hard look at U.S. mortgage giants Jul 21, 2008
But Schuler, like most analysts, is confident that Washington will deliver, just as it has in past financial crises like the savings and loan industry bailout of the late 1980s and early 1990s. "There may be many things worthy of panic" in the capital markets now, she said, but holding Fannie and Freddie issued securities is "not one of them.". (International Herald Tribune)
Trouble at Fannie and Freddie Stirs Concern Abroad Jul 21, 2008
Still, this week s Congressional debate on the issue is going to worry people, Ms. Schuler said, though she, like most analysts, is confident that Washington will deliver, just as it has in past financial crises like the savings and loan industry bailout of the late 1980s and early 1990s. Because America s relations with a host of countries are intricately tied to Fannie and Freddie, the only realistic option open to lawmakers may be to hand the Treasury Department that blank check, analysts... (Atlanta Journal-Constitution -- Business)
