California Earthquake Would Accelerate US Mortgage Meltdown Reveals Aon Benfield Study
In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to both US and international financiers, according to an analysis released today by Impact Forecasting LLC, a division of Aon Benfield, the world's premier reinsurance intermediary and capital advisor.
Read more News Source - PR Newswire via Yahoo! Finance
Publish date - 21:48:18 01/05/09

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From ‘Frisco to Frisco: Former Californians moving back to capitalize on falling home prices
The plunging stock market and national credit crunch are bad news for most people, but Laura Lichtman sees a silver lining. Tumbling housing prices in California gave her the chance to sell her Frisco home and purchase one in her home state for less than she ever imagined.
Read more News Source - The Frisco Enterprise
Publish date - 07:30:21 01/05/09

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Pre-purchase help for home buyers lessens risk
From her snug one-bedroom condominium near San Francisco State University, Lea Azucena has watched family members struggle against foreclosure. The mortgage meltdown has claimed the financial stability of countless other first-time home buyers, but Azucena,...
Read more News Source - San Francisco Chronicle
Publish date - 17:07:07 01/03/09

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BUSINESS HIGHLIGHTS
The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.
Read more News Source - The Salt Lake Tribune
Publish date - 01:42:58 01/06/09

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Wells Fargo completes Wachovia purchase
Wells Fargo & Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans.
Read more News Source - Reuters via Yahoo! News
Publish date - 13:21:26 01/01/09

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First Banks takes federal bailout money
Five months after taking a $100 million bailout from the Dierberg family, First Banks is taking another $295 million from the federal bank rescue fund. The bank issued $295 million in preferred stock, paying a 5 percent dividend, to the U.S. Treasury.
Read more News Source - St. Louis Post-Dispatch
Publish date - 06:22:57 01/06/09

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Billionaires to buy IndyMac bank
A seven-member investor group including billionaire George Soros and Dell founder Michael Dell have agreed to purchase failed lender IndyMac Bank for $13.9bn.
Read more News Source - News 24 South Africa
Publish date - 06:55:54 01/05/09

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(AFX UK Focus) 2009-01-01 13:29 Wells Fargo completes Wachovia purchase
NEW YORK, Jan 1 (Reuters) - Wells Fargo & Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans. The merger closed on Wednesday and more than doubles the size of Wells Fargo, creating the fourth-largest U.S. bank by assets. Wells Fargo also has the nation's largest ...
Read more News Source - Interactive Investor
Publish date - 13:59:19 01/01/09

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The Ticker
Ailing Apple Inc. founder Steve Jobs announced he has an easily treatable hormone imbalance and will remain in charge of the company. Massachusetts and 10 other Northeast...
Read more News Source - Boston Herald
Publish date - 05:06:13 01/06/09

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Toxic leak upsets homeowners
When Debra Fenner and her husband bought their Beachwood-area home in the Summit Meadows development in September, there were some things they didn't know.
Read more News Source - Merced Sun-Star
Publish date - 08:27:23 01/06/09

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