Swiss trust in UBS eroding: report (AFP)
AFP - The Swiss people's trust in the country's banking giant UBS has been eroding following the subprime crisis, a survey commissioned by Swiss tabloid newspaper SonntagsBlick indicated Sunday. More »
Paulson Plan May Spark Showdown Between Democrats, Republicans (Bloomberg)
Bloomberg - Sept. 21 (Bloomberg) -- Congressional Democrats want to use the Bush administration's $700 billion rescue plan for U.S. financial companies to curb executive pay, spur the economy with infrastructure spending and help people avoid foreclosures, setting the stage for a possible fight with Republicans and the Bush administration. More »
Treasury Seeks Authority to Buy Mortgages Unchecked by Courts (Bloomberg)
Bloomberg - Sept. 21 (Bloomberg) -- The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets. More »
Treasury Seeks Authority to Buy $700 Billon in Mortgage Assets (Bloomberg)
Bloomberg - Sept. 20 (Bloomberg) -- The Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments from U.S. financial companies in what would be an unprecedented government intrusion into the markets. More »
Rescue plan seeks $700B to buy bad mortgages (AP)
AP - The Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated Press. More »
4 Fannie execs depart; organization restructured (AP)
AP - Mortgage finance giant Fannie Mae, taken over by the government earlier this month, announced Friday the resignations of four senior executives and said it was restructuring its organization. More »
The Right Stuff... (Investor's Business Daily)
Investor's Business Daily - Subprime Crisis: President Bush's financial team is now proving its mettle -- and its expertise. Led by Treasury Secretary Henry Paulson, it crafted a reasonable, workable response to the subprime meltdown. More »
Paulson urges Congress action on mortgage debt plan (Reuters)
Reuters - U.S. Treasury Secretary Henry Paulson, leading a push for a taxpayer-funded plan to contain the credit market crisis, said on Friday he would ask Congress to take action on this next week and that the Treasury was taking immediate steps in the meantime. More »
Paulson: Fannie, Freddie to buy more mortgages (AP)
AP - Treasury Secretary Henry Paulson announced Friday that mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. More »
Freddie Mac and Fannie Mae PACs on Capitol Hill (AP)
AP - Highest congressional career totals for contributions from PACs tied to Freddie Mac and Fannie Mae: More »
Burning Bodies on Bowman (Commentary)
A busy commercial area has grown up around what was a secluded crematory in west Little Rock. More »
Pastor Pursues Plan to Foster Economic Development
Mark DeYmaz of Mosaic Church of Central Arkansas provides an update on the church's plan to revitalize the dilapidated property at the corner of University and Asher avenues. More »
Wal-Mart Buys Superior For New Sam's Club HQ
Wal-Mart Stores Inc. purchased the 375,000-SF Superior Building in Bentonville for $29.9 million on Sept. 16 to serve as the new headquarters for its Sam's Club division and about 1,000 of its associates. More »
Retailers, Developers Share Plans for Shopping Centers
Several hundred commercial real estate brokers, retailers and shopping center developers gathered at the Embassy Suites in Rogers on Sept. 9 for the International Council of Shopping Centers' 2008 Oklahoma/Arkansas Idea Exchange. More »
Most Contractors Report Increased Revenue During 2007
Construction activity held its own among the leading commercial contractors in Arkansas during 2007. Combined revenue for the top 21 firms increased more than 12 percent compared with 2006, growing from nearly $2.28 billion to more than $2.61 billion. More »
Government as Capitalist (Jeff Hankins Publisher's Note)
We can talk about how government failed or enabled behavior, but I'm far more irritated by the terrible business practices that led to the credit mess. More »
Heart Clinic Gains Office Facility in $2.85 Million Transaction
A look at important Arkansas real estate transactions for the week of Sept. 22, 2008. More »
Rocket Properties' Green Approach Boosts Lot Sales
Rocket Properties LLC has taken a low-impact approach to developing its Woodlands Edge residential project in west Little Rock. That means retaining more green space and reducing the lot count. More »
Bankruptcy Court Denies Barber Attorney
Northwest Arkansas real estate developer Brandon Barber's request to employ attorney Vaughn Knight in the Chapter 11 bankruptcy of his Lynnkohn LLC has been denied by the U.S. Bankruptcy Court, Western District of Arkansas. More »
Obama mocks McCain's call to fire SEC chairman (AP)
AP - Democratic presidential nominee Barack Obama promised fresh ideas Thursday to calm America's financial meltdown and help struggling families avoid mortgage foreclosure, saying "this is not a time for fear, it's not a time for panic." More »
McCain Effort to Tie Obama to Fannie Mae Woes Sets off Political Brawl (CQPolitics.com)
CQPolitics.com - Republican presidential nominee John McCain sparked a furious exchange of campaign attacks Thursday night with the release of a television ad linking Democratic nominee Barack Obama to a former Fannie Mae chief who was forced out by an accounting scandal. More »
Freddie Mac says Lehman owed it over $1.2 billion (Reuters)
Reuters - Freddie Mac said on Thursday it has yet to receive payments of more than $1.2 billion due from Lehman Brothers Holdings , which went bankrupt after the U.S. government refused to bail out the investment bank. More »
California home sales surge as prices plummet (AP)
AP - Home sales in California surged 13.6 percent in August as a flood of foreclosures drove down prices. More »
Congress Lies Low To Avoid Bailout Blame (Investor's Business Daily)
Investor's Business Daily - Congress says it likely will adjourn this month having done nothing on the most important issue in America right now: the financial meltdown from the subprime lending crisis. More »
Economy - Thursday (Investor's Business Daily)
Investor's Business Daily - Household debt in Q2 grew at its slowest annual pace since 1952, the Fed said in its flow of funds report. By comparison, debt grew 7.2% in Q2 '07. Home mortgage debt grew 0.8%, also the lowest since 1952. Household net worth fell for a 3rd straight quarter, declining 0.8% annually to $55.9 trillion. More »