interest rates

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Fee Hikes at Bailed-Out Banks Spur Investigation

Interest rates as high as 30% raise questions about program's effectiveness

(Newser) - Congressional overseers of the TARP program are investigating the lending practices of several of the banks they bailed out in response to complaints that the banks are raising interest rates and fees, the Wall Street Journal reports. Despite receiving billions in taxpayer dollars, Bank of America last week nearly doubled...

Turnaround? Don't Get Too Giddy Just Yet

Further decline still possible, they warn

(Newser) - Signs of an economic recovery seem to be sprouting all around, but plenty of skeptics warn against starting the celebration too early, reports the New York Times. Wall Street has been on the upswing the last two months as the credit market begins to thaw and low interest rates aid...

Euro Bank Chief Slams US on Stimulus

Central bank chief says nations must get the last effort right

(Newser) - The head of the European Central Bank says the continent does not need to spend more to combat recession, heightening the standoff between Washington and European governments over response to the financial crisis. In an interview with the Wall Street Journal, Jean-Claude Trichet said governments should concentrate on executing measures...

Plummeting Mortgage Rates Near Record Low

Rate for 30-year mortgage again below 5%

(Newser) - Interest rates for fixed-rate mortgages decreased this week, with the rate for a 30-year mortgage falling 0.05% to an average 4.98%, near January’s record low of 4.96%, MarketWatch reports. Thirty- and 15-year mortgage rates are down nearly a full percentage point from a year ago. The...

Watch Out for These Economic Recovery Signs
Watch Out for These Economic Recovery Signs
analysis
Feb 9, 2009 4:52 PM CST

Watch Out for These Economic Recovery Signs

Keep an eye out for slowing pasta sales

(Newser) - We knew the economy was toast when the GDP dropped 3.8% in the last quarter. But such data lags behind the real economy, writes Dan Kadlec in Time, so watch out for these indicators of a turnaround:
  • Home sales. They started the downturn, so any upswing is a good
...

Renegade Trader Leaves Deutsche Bank Reeling

(Newser) - How does one lose almost $2 billion in a matter of months? Look no further than the story of Deutsche Bank’s Boaz Weinstein, the chess master and gambling extraordinaire who made more than $1.5 billion for the firm in just 2 years before losing it all and more,...

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