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Banks agree $25 billion deal for U.S. homeowners

WASHINGTON — President Barack Obama and top US mortgage lenders unveiled a landmark $25 billion deal Thursday to help struggling homeowners get back on their feet and to untether the moribund housing market. Five of the country’s top banks, the federal government and 49 states — all except Oklahoma —…

Romney profited from mortgage lenders that foreclosed on thousands

Republican presidential candidate Mitt Romney and his wife, Ann, saw profits by sinking millions into a Goldman Sachs fund that invested in mortgage-backed obligations, which were owned by lenders who foreclosed on thousands of Floridians. By examining the candidate’s May 2011 financial disclosure forms, Think Progress determined that Romney and…

Some Fed policymakers want more stimulus

WASHINGTON — Federal Reserve policymakers viewed the US economy’s outlook as particularly clouded, and some wanted to ramp up large-scale asset purchases, according to the minutes of their last meeting published Wednesday. “Participants saw considerable uncertainty surrounding the outlook for a gradual pickup in economic growth,” the minutes of the…

Can’t be an expert in everything

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo. This video (hat tip) is very good at clearing up some of the more confusing aspects of the credit crisis. My main objection is the way the subprime borrowers are stereotyped as ne’er do wells. I’m sure there were some,…

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