Reuters - British bank HBOS Plc, due to be taken over by Lloyds TSB, said on Friday that its bad debts and other charges so far this year have jumped by two thirds in the last two months alone, to 8 billion pounds ($11.9 billion), as corporate and home loans soured.
Reuters - The White House on Tuesday demanded greater assurances about the viability of U.S. automakers before it would agree to a Democratic proposal for $15 billion in short-term loans for the wounded corporate giants.
AP - Three months after the government seized control of Fannie Mae and Freddie Mac, lawmakers on Tuesday blamed former top executives at the mortgage giants for fueling the financial market turmoil that has dragged the country into a recession.
Reuters - Four men who led failed mortgage finance giants Fannie Mae and Freddie Mac were called before a U.S. House of Representatives panel on Tuesday and chided for making risky loans that fueled a housing crisis and helped push the economy into recession.
Reuters - The White House and Democrats edged toward agreement on Monday to rescue U.S. automakers by extending emergency loans but their plan leaves key restructuring decisions to the incoming Obama administration.
Reuters - More than half of mortgages modified in a bid to avoid foreclosure fell delinquent within six months, a top U.S. banking regulator said on Monday, casting doubt on a proposal to rewrite home loans en masse.