U.S. regulators fell short in using their powers “forcefully or effectively” to stop risky practices by banks and were “slow to identify and address abuses” in subprime mortgage lending before the financial crisis, Federal Reserve Chairman Ben S. Bernanke said in prepared remarks.
In testimony delivered Thursday before a Congressionally appointed committee investigating the financial crisis, [...]
The Ultimate Hard Money News Around The World
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Bernanke: U.S. regulators fell short before financial crisis
September 2nd, 2010 by HardMoney Writer Tags: financial crisis, financial system, investment, money, subprime mortgage, taxpayers
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Wall Street Surges After Upbeat Economic Reports
September 1st, 2010 by HardMoney Writer Shares on Wall Street surged Wednesday, following the direction of indexes in Asia and Europe, after a crucial manufacturing gauge in the United States unexpectedly rose in August and earlier indicators showed strong growth in China and Australia.
The Institute for Supply Management said that its index of manufacturing activity reached 56.3 points in August, up [...]Tags: Dow Jones Industrial, economists, economy, financial, Financial Markets, global economic, interest rates, investors, unemployment rate, wall street
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Gold Advances Most in Two Weeks on Haven Demand Amid Global Equity Slump
August 31st, 2010 by HardMoney Writer Gold futures rose the most in two weeks as slumping global equity markets boosted the appeal of bullion for investors seeking a haven.
The MSCI World Index of stocks has dropped 4.4 percent in August, heading for the biggest monthly decline since May, on concern that the economic rebound is slowing. Before today, gold gained 13 [...]Tags: financial, Financial Markets, financial system, global recovery, Gold & Precious Metals, interest rates, stock market
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Analysis: The uncomfortable mathematics of monetary policy
August 29th, 2010 by HardMoney Writer Bigger, as the Federal Reserve may soon discover, is not always better.
The prospect of a renewed effort by the U.S. central bank to drive down already super-low borrowing costs raises the issue of whether such measures can help stimulate a recovery that is faltering due to a lack of consumer demand.
The sorry state of the [...]Tags: ben bernanke, borrowers, central bank, economists, Federal Reserve, financial crisis, interest rates, macro economy, mortgages, US Economy
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PRECIOUS METALS: Gold Futures Pull Back After Bernanke Speech
August 27th, 2010 by HardMoney Writer Gold futures have eased slightly after comments from the head of the U.S. Federal Reserve about deflation, but the metal isn’t losing much ground as concerns about the economic recovery continue to support it as a refuge investment.
The most actively traded gold contract, for December delivery, was recently down $1.50, or 0.1%, at $1,236.20 an [...]Tags: economic recovery, economists, Federal Reserve, Gold & Precious Metals, home sales, us bank central, US Economy
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Dollar Drops Against Major Rivals
August 26th, 2010 by HardMoney Writer The dollar fell sharply against major rivals Thursday as speculation mounted that the Federal Reserve could take further action to prop up the U.S. economy.
The greenback dropped to its lowest level since Jan. 19 against the Swiss franc, which has been on an upward march in recent days. The dollar was also down slightly against [...]Tags: brokers, economic growth, eurozone economy, Federal Reserve, stock market, us bank central, US Economy
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Treasuries Rise, 10-Year Yield Drops to 19-Month Low on Signs of Slowdown
August 25th, 2010 by HardMoney Writer Treasuries gained, pushing the yield on the 10-year note to the lowest level in 19 months, as new home sales unexpectedly dropped in July to a record low and orders for durable goods rose less than economists forecast.
Yields on 5-year notes dropped to the lowest level since December 2008 before the government’s $36 billion auction [...]Tags: commerce department, economic recovery, economists, financial system, home sales, housing market, US Economy
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True Facts about the Hard Money Loans
August 24th, 2010 by HardMoney Writer When you search for the loan options, you come across several alternatives with distinct characteristics. One of these options is the hard money loan that comes with several benefits as well as some drawbacks to help the loan seekers fulfill their essential needs and desires. However, if you study or observe the loan market, you [...]
Tags: bad credit, borrowers, credit rating, Hard Money Loans, home loans, real estate loans
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Yen Rises to Seven-Week High Versus Euro on Outlook for Economic Slowdown
August 23rd, 2010 by HardMoney Writer The yen rose to a seven-week high against the euro as signs the global economy is slowing boosted demand for Japan’s currency as a refuge.
The yen rose against all 16 major counterparts after a conversation between Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa failed to yield a plan to curb its [...]Tags: bank of japan, currency deals, economic growth, financial, Financial Markets, global economic, stock market
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Home Sales Probably Plunged and Goods Orders Rose as U.S. Recovery Slowed
August 22nd, 2010 by HardMoney Writer Home sales probably plunged in July, and orders for long-lasting goods climbed for the first time in three months as the U.S. strained to sustain the recovery from the worst recession since the 1930s, economists said before reports this week.
Purchases of new and existing houses dropped 12 percent to a 5.01 million annual pace, the [...]Tags: business investment, chief economist, commerce department, Federal Reserve, hard money, home sales, homebuilder
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