Dec 18th, 2008 · The Wazadally family will likely be foreclosed on early next month. With just $22,000 dollars in annual income, bankers gave the Wazadallys a $550,000 home loan earlier this year. Meanwhile, the Hope for Homeowners program has failed.
Dec 12th, 2008 · When the Amish of Lancaster, Pa., need to buy a farm, they turn to one local banker for credit. Bill O'Brien says he has never lost money on an Amish deal. Amid the national mortgage crisis, his Hometowne Heritage Bank is having its best year yet.
Dec 4th, 2008 · Confronted by deteriorating economies, central bankers overseas slashed interest rates Thursday. The European Central Bank made its biggest rate cut ever — cutting rates by three quarters of a percentage point. The Bank of England and Sweden's central bank also sliced rates.
Dec 2nd, 2008 · Henry Quinson walked away from the comfortable life of an international banker in Paris to join the monastery. He now tutors immigrant children in a run-down housing project in Marseilles. We explore the factors behind the transformation and his reflections on the market from afar.
Nov 27th, 2008 · An upscale pawn shop in one of the nation's priciest ZIP codes has become an alternative bank for people who can't get their bankers to lend. Asset-rich but cash-poor, the denizens of Los Angeles are bringing in everything from Picassos to their wives' diamond rings.
Nov 14th, 2008 · Congress is struggling over what to do about the epidemic of home foreclosures. Senators told some of the nation's biggest bankers Thursday, that they should do their part to help homeowners. If they don't, Congress might turn to bankruptcy judges to rewrite the terms of mortgages — as they already do for car loans and even vacation homes.
Nov 13th, 2008 · Renee Montagne has business news.
Nov 12th, 2008 · Wall Street is littered with the resumes of former investment bankers and traders now looking for work. At a recent networking party at a bar in midtown Manhattan, so many people turned up that some had to wait in line to get in.