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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: December 7, 2008 - December 13, 2008

Report: AIG Pays More Retention Bonuses

AIG -- the insurance giant that has thus far received $153 billion in bailout money and is 80-percent owned by the government -- is paying retention bonuses to at least 2,000 employees, Bloomberg is reporting. The bonuses equal one year's...

By Frank Ahrens  |  December 12, 2008; 6:02 PM ET  |  Permalink  |  Comments (7)
Categories:  The Ticker  | Tags: AIG, bailout  
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Dodd: GOP Tried To Create 'Train Wreck'

House Banking Chairman Chris Dodd (D-Conn.) just wrapped up a press conference giving his views on the Senate's blockage of the $14 billion emergency bridge loans to Detroit's Big Three automakers and laid blame for the failure on Senate Republicans...

By Frank Ahrens  |  December 12, 2008; 4:35 PM ET  |  Permalink  |  Comments (6)
Categories:  The Ticker  | Tags: Christopher Dodd, Chrysler, Ford, GM, automakers  
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Would You Buy a Car From a Company in Bankruptcy?

The troubled Big Three Detroit automakers -- GM, Ford and Chrysler -- have consistently opposed bankruptcy as a way out of their struggles, an option advocated by a number of others. Their argument: No one wants to buy a car...

By Frank Ahrens  |  December 12, 2008; 3:15 PM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers, bankruptcy  
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Sen. Ensign Blames Union For Autos Bailout Collapse

Moments ago, Sen. John Ensign (R-Nev.), one of the Senate Republicans who killed the $14 billion package of emergency direct loans to struggling Detroit Big Three automakers, blamed the United Auto Workers for the bill's death. "The UAW walked away...

By Frank Ahrens  |  December 12, 2008; 1:21 PM ET  |  Permalink  |  Comments (7)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, UAW, automakers  
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GM To Cut Production By 250,000 Vehicles

Struggling auto giant GM said moments ago that it will slash its first-quarter 2009 production by 250,000 vehicles by temporarily idling 21 factories. The number represents one-third of the 750,000 vehicles GM typically produces in one three-month period. Many of...

By Frank Ahrens  |  December 12, 2008; 12:55 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers  
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Dec. 12, 2008

We could work for nothing and it wouldn't help GM make it to January." — United Auto Workers president Ron Gettelfinger...

By washingtonpost.com Editor  |  December 12, 2008; 12:02 PM ET  |  Permalink  |  Comments (0)
Categories:  Quotables  
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Mitt Romney for Car Czar?

One of the ideas floating around as part of any Congressionally approved Big Three automaker bailout is a "Car Czar" -- one person, appointed by the federal government, who would oversee GM, Ford and Chrysler and who may have the...

By Frank Ahrens  |  December 12, 2008; 11:30 AM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, Mitt Romney, automakers  
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UAW Chief: 'Imminent Collapse' of Big Three Looming

United Auto Workers president Ron Gettelfinger hit back against Senate Republicans who blocked the $14 billion in emergency loans to Big Three automakers last night, saying lawmakers are asking the union for too much and everyone else for too little....

By Frank Ahrens  |  December 12, 2008; 10:55 AM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, UAW, automakers  
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Wall Street Opens Down; Could Have Been Worse

The catastrophic markets opening predicted by the Asian markets and the Wall Street futures has not materialized -- yet. Yes, the Dow is down about 135 points, or 1.5 percent, in the first 15 minutes of trading. The S&P 500...

By Frank Ahrens  |  December 12, 2008; 9:51 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers, bailout  
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Autos Bailout: White House Blinks

There's a flurry of activity happening in the moments before the markets open on Wall Street today at 9:30 a.m., as the White House attempts to prevent a Dow disaster. The market futures point to a huge drop at opening,...

By Frank Ahrens  |  December 12, 2008; 9:24 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers, capitalism  
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Auto Bailout Failure Ripples Through Global Markets

It looks like the U.S. auto bailout that wasn't is already having a very real effect on global markets. Asian markets tanked when the bailout did; Europe followed. Major indexes around the globe were down anywhere from 3 to nearly...

By Washington Post editors  |  December 12, 2008; 8:02 AM ET  |  Permalink  |  Comments (0)
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Senate Efforts on Auto Bill Falters

An eleventh-hour effort to salvage a proposed $14 billion rescue plan for the auto industry collapsed last night as Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers, killing the legislative plan and...

By Lexie Verdon  |  December 11, 2008; 10:27 PM ET  |  Permalink  |  Comments (0)
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Reid: Autos Bailout Bill Still Alive In Senate

Senate Majority Leader Harry M. Reid (D-Nev.) said negotiations over a $14 billion loan deal for the auto industry have taken a positive turn, setting up a potential breakthrough, The Post's Paul Kane reports. "We're a lot further down the...

By Frank Ahrens  |  December 11, 2008; 5:36 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, Harry Reid, automakers  
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JP Morgan's Dimon: 'I Do Not Expect a Depression'

JP Morgan Chase chief executive Jamie Dimon, known by many now as "the nation's banker," just wrapped up an interview on CNBC during which he said: "I do not expect a depression." Dimon said he believes the U.S. will be...

By Frank Ahrens  |  December 11, 2008; 2:49 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Bear Stearns, Ben Bernanke, Geithner, JP Morgan, Jamie Dimon, Paulson  
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Newsweek Offers More Buyouts, To Cut 10 Jobs

Newsweek magazine, which is owned by The Washington Post Co., told employees today that the magazine is extending early-retirement, or "buyout," packages offered earlier this year and will lay off 10 employees. Newsweek, like all news weekly magazines, has seen...

By Frank Ahrens  |  December 11, 2008; 2:10 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Newsweek, Washington Post Co.  
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Dec. 11, 2008

A lot of struggling Americans are wondering where their bailout is." — Sen. Mitch McConnell (R-Ky.) speaks out against the auto bailout bill....

By washingtonpost.com Editor  |  December 11, 2008; 2:02 PM ET  |  Permalink  |  Comments (0)
Categories:  Quotables  
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November Home Foreclosures Decline, But Group Says the Worst is Yet to Come

According to RealtyTrac, which tracks foreclosures around the country, home mortgage foreclosures in November were actually down 7 percent from October, but they were up 28 percent from November of 2007 and the worst is still coming, the group warned....

By Frank Ahrens  |  December 11, 2008; 1:22 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: foreclosure, mortgage  
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Sen. Corker's Alternative Autos Bailout Plan

Senate Republicans are threatening to block the $14 billion Big Three auto bailout loans approved last night or, at the very least, amend the bill to get some of the conditions they want imposed on GM, Ford and Chrysler. Sen....

By Frank Ahrens  |  December 11, 2008; 12:50 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers  
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Big Pharma Likes Daschle as Health Secretary

According to Wall Street, Tom Daschle is a good choice to be the new secretary of the Department of Health and Human Services. Shares of the big drugmakers -- Pfizer, Eli LIlly, Merck, GlaxoSmithKline and AstraZeneca -- are all trading...

By Frank Ahrens  |  December 11, 2008; 12:01 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Eli Lilly, GlaxoSmithKline, Merck, Pfizer, Tom Daschle  
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Boeing Delays 787 Dreamliner -- Again

Aerospace giant Boeing said this morning that it will have to push back again both the first flight and first delivery of its new 787 Dreamliner commercial jet, thanks to the crippling machinists' strike earlier this year. The 787 was...

By Frank Ahrens  |  December 11, 2008; 11:09 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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Unemployment Figures Drive Markets Down At Opening

Wall Street opened down this morning, as the market reacts to higher-than-expected unemployment numbers from last week and larger-than-predicted growth in the trade deficit. In the first 15 minutes of trading, the Dow is down about 118 points, or 1.3...

By Frank Ahrens  |  December 11, 2008; 9:46 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: China, trade, unemployment  
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Oil Demand Falls in 2008

It's hard to imagine that this is happening the same year that the price of oil hit an all-time high: The International Energy Agency today said that global oil demand will actually shrink .2 percent this year. Yes, oil hit...

By Sara Goo  |  December 11, 2008; 7:28 AM ET  |  Permalink  |  Comments (1)
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Capitalism In Question: Why Is GOP For 'Forced Restructuring' Of Big Three?

Congress will spend the remainder of this week arguing over the Detroit Big Three automaker bailout -- $14 billion in emergency bridge loans aimed at keeping at least two of them, GM and Chrysler, in business. The House approved the...

By Frank Ahrens  |  December 10, 2008; 9:12 PM ET  |  Permalink  |  Comments (16)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, capitalism, nationalization  
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House Decidedly Passes Autos Bailout BIll

The House just passed the $14 billion Detroit Big Three autos bailout bill by a vote of 237-170, sending it to a Senate where approval is no slam-dunk, thanks to the promised opposition of leading Republicans. The bill was overwhelmingly...

By Frank Ahrens  |  December 10, 2008; 8:51 PM ET  |  Permalink  |  Comments (5)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, Nancy Pelosi, automakers, bailout  
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Autos Bailout Vote Underway In House

The House has begun voting on a bill that would provide $14 billion in nearly instant emergency bridge loans to Detroit's Big Three automakers. GM and Chrysler said they would access their shares of the money right away. Ford said...

By Frank Ahrens  |  December 10, 2008; 8:33 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, automakers, bailout  
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Rep. Frank's Jujitsu on House Republicans

Rep. Barney Frank (D-Mass.) practiced a little clever arm-twisting moments ago while arguing for his chamber to pass the $14 billion auto bailout bill that would give direct emergency loans to GM, Ford and Chrysler. Rep. David Dreier (R-Calif.) just...

By Frank Ahrens  |  December 10, 2008; 5:01 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Barney Frank, Chrysler, Ford, GM  
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House Speeds Toward Autos Bailout Bill Vote

The House just passed a procedural vote that will allow it to vote on the $14 billion autos bailout bill tonight, expected to come by about 7:30 p.m. The big question is: Will it even matter if the House passes...

By Frank Ahrens  |  December 10, 2008; 4:48 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM  
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Layoffs at NPR, Yahoo

The Contraction Continues, Chapter 275: Yahoo began today laying off 1,500 employees, or 10 percent of its U.S. workforce, and Washington-based National Public Radio said it will lay off 64 employees, or 7 percent of its workforce, The Post's Paul...

By Frank Ahrens  |  December 10, 2008; 4:28 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: NPR, Yahoo, layoffs, recession  
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Zell: I Have Been Contacted By FBI

Appearing on CNBC moments ago, Tribune chief executive Sam Zell -- who is indirectly referred to in the government's criminal complaint against Ill. Gov. Rod Blagojevich (D) -- said that he has been contacted by the FBI but wouldn't give...

By Frank Ahrens  |  December 10, 2008; 3:39 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Sam Zell, Tribune  
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Rep. Manzullo Calls for Kashkari's Resignation

Rep. Donald Manzullo (D-Ill.) just wrapped up a long and aggressive attack on Treasury official Neel Kashkari, the man in charge of doling out the $700 billion bailout/rescue plan. Manzullo ended by calling for Kashkari's resignation because Manzullo accused him...

By Frank Ahrens  |  December 10, 2008; 2:57 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Donald Manzullo, Neel Kashkari  
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Kashkari Tries to Explain Collapse in Plain Language

Testifying before the House Financial Services committee right now, Treasury's Neel Kashkari -- finally -- put into real terms what a "collapse of the financial system" would have looked like. "It's hard to know for sure, but it's conceivable the...

By Frank Ahrens  |  December 10, 2008; 1:32 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Neel Kashkari  
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Big Bailout Banks May Be Called Before Congress

Rep. Barney Frank (D-Mass.), holding a hearing of his Financial Services committee, which is grilling Treasury official Neel Kashkari on how he's handing out the government bailout, just said that he expects to hold a hearing that will summon the...

By Frank Ahrens  |  December 10, 2008; 12:57 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Barney Frank, Neel Kashkari, Treasury, bailout  
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Senate GOP Puts up Road Block to Autos Bailout

No sooner did the House Democrats release the final version of the $15 billion autos bailout bill -- emergency bridge loans to allow GM, Ford and Chrysler to stay in business -- Senate Republicans vowed to block it. Sen. Richard...

By Frank Ahrens  |  December 10, 2008; 12:17 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, Richard Shelby  
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Final Version Of Autos Bailout Bill

Just posted on the House Financial Services site, here is the full text of the bill that will give Detroit's Big Three automakers -- GM, Ford and Chrysler -- $15 billion in emergency bridge loans at an initial rate of...

By Frank Ahrens  |  December 10, 2008; 11:56 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, General Motors, automakers, bailout  
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Kashkari: Banks Using Bailout Cash To Maintain Dividends

Rep. Spencer Bachus (R-Ala.) just asked Treasury's Neel Kashkari, the man in charge of doling out the $700 billion bailout/rescue about banks using bailout money to pay dividends. Bachus is worried that banks are not using the bailout money to...

By Frank Ahrens  |  December 10, 2008; 11:31 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Neel Kashkari, Treasury  
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Kashkari Begins Defense Of Treasury Actions On Bailout

Neel Kashkari, the man in charge of doling out the $700 billion bailout/relief plan, has begun his testimony before a skeptical House Financial Services committee, which you can read here. Congress has the ability to hold up the second $350...

By Frank Ahrens  |  December 10, 2008; 11:16 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Neel Kashkari, Treasury, bailout  
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House Hammers Treasury On Bailout Accountability

Treasury official Neel Kashkari, the $700 Billion Man, the guy charged with handing out the federal bailout, is before the House Financial Services committee today evidently to try to convince lawmakers that the bailout is working and that it's being...

By Frank Ahrens  |  December 10, 2008; 11:03 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Neel Kashkari, Treasury, bailout  
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Wall Street Opens Up Optimistically

Wall Street opened up solidly this morning, as traders anticipate that the House will approve the $15 billion in direct loans to the troubled Big Three automakers today. In the first 25 minutes of trading, the Dow is up 55...

By Frank Ahrens  |  December 10, 2008; 9:55 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Alan Mulally, Chrysler, Dow Jones, Ford, GM  
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Today's Focus: Bailout Money

Today, we get an important report card of sorts on how the government is handling the $700 billion pot of money that lawmakers approved to rescue the nation's financial system. The Post's Peter Whoriskey reports that the findings will be...

By Sara Goo  |  December 10, 2008; 7:28 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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Global Oil Demand To Fall For First Time Since 1983

This is the most amazing fact we've run across in weeks of parsing amazing facts: This year, for the first time in 25 years, the global demand for oil will actually drop. According to the U.S. Energy Information Administration, the...

By Frank Ahrens  |  December 9, 2008; 6:30 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: oil  
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The Ticker Goes Live On CNBC, Markets Tank

CNBC's Erin Burnett invited us on her afternoon show today to talk about the amazing scandal story out of Illinois and its possible impact on the Tribune bankruptcy, which we wrote about yesterday and today. Ticker blogger Frank Ahrens on...

By Frank Ahrens  |  December 9, 2008; 5:03 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Sam Zell, Tribune  
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Ill. Gov. Scandal Proves Newspapers Still Relevant, at Least for a Few Days

We write a lot in this space about the Big Three Detroit automakers, about how they were once an American monopoly and how they've struggled with newer, sometimes-better, competitors in an attempt to hold onto market share. There are plenty...

By Frank Ahrens  |  December 9, 2008; 3:53 PM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker  | Tags: Blagojevich, Newspapers, Sam Zell, journalism  
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Dec. 9, 2008

Liquidity, Default, Risk Cato Unbound | UC-Berkeley economist Brad Delong has written a very smart explanation of what we know, and don't know, about why this crisis is so big. The Smart Grid Marginal Revolution | Alex Tabarrok of...

By washingtonpost.com Editor  |  December 9, 2008; 2:49 PM ET  |  Permalink  |  Comments (0)
Categories:  Neil Irwin's Must Reads  
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Fed Ignores Own Advice in Canceling Holiday Bash

The Federal Reserve, as reported here on Monday, is not throwing its usual holiday party this year. Officials there felt it would seem inappropriate given the recession underway. This is exactly the kind of behavior that the Fed hopes that...

By Frank Ahrens  |  December 9, 2008; 2:43 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Ben Bernanke, Federal Reserve, Treasury  
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Defiant Franklin Raines

The House oversight committee keeps trying to extract a satisfactory mea culpa from the four assembled former heads of Fannie and Freddie, and this time, they've pushed Frank Raines too far. Responding to an assertion from a panel member that...

By Frank Ahrens  |  December 9, 2008; 1:43 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Franklin Raines  
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Former Fannie, Freddie Heads: Better Regs Needed

Under questioning from members of the House Oversight committee, a number of the former heads of Fannie and Freddie were asked what they got wrong and what they might have changed. If the committee members were holding out hope for...

By Frank Ahrens  |  December 9, 2008; 1:26 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Franklin Raines, Freddie, foreclosure  
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Franklin Raines's Five Rules For Fixing the Economy

No one really asked him, but former Fannie head Franklin Raines just offered the House Oversight committee Frank's Five Rules for Fixing the Economy: 1. The government must provide financing to the system, which is "frozen up," he said. 2....

By Frank Ahrens  |  December 9, 2008; 11:39 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Franklin Raines, Freddie  
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Former Fannie Chief: Would Redo Mortgage Underwriting If He Could

In testimony before the House Oversight committee underway right now, Daniel Mudd, Fannie chief from 2005-08, said that, if hindsight were 20/20 he would redo the way Fannie underwrote mortgage loans. Mudd and three other former Fannie and Freddie heads...

By Frank Ahrens  |  December 9, 2008; 11:25 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Freddie  
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Internal Memos Urged Fannie To Go 'Underground'

At Henry Waxman's (D-Calif.) Oversight committee, which is grilling four former heads of Fannie and Freddie, some internal Fannie documents were just presented that showed the company, in 2005, considering the pros and cons of entering the riskier sub-prime market....

By Frank Ahrens  |  December 9, 2008; 11:12 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Freddie  
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Former Fannie, Freddie Heads Offer Defenses

Four former heads of Fannie and Freddie are testifying before Rep. Henry Waxman's (D-Calif.) oversight committee right now on their role in helming the two mortgage giants as they entered the sub-prime market and the subsequent damage caused to each....

By Frank Ahrens  |  December 9, 2008; 10:59 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Franklin Raines, Freddie, Waxman  
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Rep. Waxman Starts Beating Up On Fannie, Freddie Execs

Rep. Henry Waxman (D-Calif.) has kicked off his House Committee on Oversight and Government Reform beat-down of former Fannie Mae and Freddie Mac executives arrayed before him right now as blame is placed for the mortgage giants' role in the...

By Frank Ahrens  |  December 9, 2008; 10:18 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Fannie, Freddie, Waxman  
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Bad News Drives Down Wall Street Open

Some bad employment and economic news pushed down the markets at opening following the two-day rally. Sony said this morning that it would cut a total of 16,000 jobs (8,000 full-time, 8,000 part-time/seasonal), Texas Instruments warned of fourth-quarter deterioration and...

By Frank Ahrens  |  December 9, 2008; 9:46 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, Fannie, Freddie, nasdaq, s&p 500  
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Dec. 8, 2008

We call this a barbershop. Everyone is getting haircuts." — House Speaker Nancy Pelosi (D-Calif.) on how auto executives, shareholders, dealers and employees will be expected to make concessions....

By washingtonpost.com Editor  |  December 9, 2008; 9:37 AM ET  |  Permalink  |  Comments (1)
Categories:  Quotables  
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Today's Lineup: Auto Bailout, Freddie & Fannie

You know industrial companies are preparing for a prolonged recession when they announce big layoffs and close or idle plants. That is exactly what has started to happen this week. Yesterday, Dow Chemical announced it would lay off 11 percent...

By Sara Goo  |  December 9, 2008; 7:15 AM ET  |  Permalink  |  Comments (0)
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Fannie, Freddie Heads Accused Of Rearranging Titanic Deck Chairs

Rep. Lynn A. Westmoreland (R-Ga.) just took his turn at the former heads of Fannie and Freddie, first asking them their salaries when they ran the two mortgage giants. The report: - Richard Syron, former Freddie chief: $4 milliion per...

By Frank Ahrens  |  December 9, 2008; 1:55 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fannie, Franklin Raines, Freddie  
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Tribune Files For Bankruptcy

Debt-ridden media giant Tribune Co. has filed for Chapter 11 bankruptcy protection in Delaware Court so the company can reorganize, it was announced moments ago. "Over the last year, we have made significant progress internally on transitioning Tribune into an...

By Frank Ahrens  |  December 8, 2008; 2:08 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: bankruptcy  
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NBC Head Zucker: Advertisers 'Scared'

NBC Universal (NBCU) chief executive Jeff Zucker sat for an interview earlier today on CNBC, which NBCU owns, to talk about the dismal 2009 advertising picture. In addition to NBC and CNBC, NBCU owns the Sci-Fi channel, USA, Bravo and...

By Frank Ahrens  |  December 8, 2008; 1:34 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: NBC, Zucker, advertising, recession, television  
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Report: Half of Borrowers Re-Default After Workouts

Keeping distressed homeowners out of foreclosure is often cited as one of the chief cures to the country’s economic woes. But new data from the Comptroller of the Currency throws a spotlight on a potential wrinkle on various government and...

By Sara Goo  |  December 8, 2008; 12:21 PM ET  |  Permalink  |  Comments (0)
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Rep. Frank: Autos Bailout Deal By End Of Today

Rep. Barney Frank (D-Mass.) just appeared on CNBC and said he expects an announcement from Congress by the end of the day on $15 billion in emergency bridge loans for the troubled U.S. Big Three automakers. Frank said he expects...

By Frank Ahrens  |  December 8, 2008; 12:11 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, General Motors, automakers, bailout  
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Non-Auto Manufacturing Giants Feel Pain Of Contraction, Too

The U.S. has a manufacturing economy beyond Detroit's Big Three automakers, but you might not know it right now, given all the attention to the bailout of GM, Ford and Chrysler. And the non-auto manufacturers are getting hit just as...

By Frank Ahrens  |  December 8, 2008; 10:45 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: manufacturing  
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Wall Street Opens Week Strongly

The markets kicked off Monday morning by extending their Friday rally, as hopes of a "Santa Claus rally" combined with a growing -- and hopeful -- sense that some sort of market bottom may be in sight. In the first...

By Frank Ahrens  |  December 8, 2008; 9:45 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Congress, Ford, GM, General Motors, automakers, bailout  
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Markets Eye Auto Bailout, Stimulus

The hearings on the auto bailout are over and this week Congress is getting to the details: the legislation. Having made some progress over the weekend in shaping an auto bailout package, The Post's Lori Montgomery reports that lawmakers could...

By Sara Goo  |  December 8, 2008; 7:17 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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