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MIAMI - Florida sued mortgage lender Countrywide Financial Corp on Monday for predatory lending practices, alleging the company at the center of the United States mortgage crisis made subprime loans to people who could not repay them.

NEW YORK - JPMorgan Chase & Co reigned supreme across global debt and equity underwriting for the last quarter.

DETROIT - Shares of General Motors Corp tumbled to a 54-year low while smaller rival Ford Motor Co shares fell as much as 10 percent on Monday on concerns record oil prices would further hit United States demand for vehicles.

CHICAGO - The United States economy continues to bump along at a slow level of growth but has probably not fallen into recession, a series of regional purchasing managers’ reports suggested on Monday.

CHICAGO - The United States economy continues to bump along at a slow level of growth but has probably not fallen into recession, a series of regional purchasing managers’ reports suggested on Monday.

CHICAGO - The United States economy continues to bump along at a slow level of growth but has probably not fallen into recession, a series of regional purchasing managers’ reports suggested on Monday.

…He cites as examples appliftrs, “fee hungry” mortgage brokers, and
real estate agents who participated in putting home purchaseers into subprime
mortgages they could not afford. There may also be, as Lenckus
puts it, an unknown number of “widget manufacturers”
which bought various mortgage- backed financial instruments as
investments that must now be devalued. This will impact the company’s
bottom line and provide an impetus for shareholder suits. Even
companies that did not invest in subprime instruments
may be vulnerable… Read More Now

Speaking to journalists en route to Berlin, Treasury Secretary
Henry Paulson has said that his speech on July 2 will focus
on the Federal Reserve’s role as a macro stability regulator.

Paulson has said that speech will focus on the Federal Reserve’s process
for intervening in financial affairs and that any
intervention by the Fed must be paired with market discipline.

Read More Now