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• Tuesday, 22 May 2012

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• FHFA to Bulk-Sell Foreclosed Homes - 22 March 2012

As home foreclosures continue and Americans are forced to find alternative housing, the rental market in major centers is reportedly taking strain in keeping up with the demand. This may very well be alleviated by the bulk sale of Fannie Mae and Freddie Mac-owned houses to investors-turned-landlords. It has been reported that among the high-profile investors showing an interesting in the bulk buying of foreclosed homes are OakTree Capital Management, Starwood Capital, Och-Ziff Capital Management, and TPG Capital.

• Eurozone Hopes, Mortgage Rates, Corporate Earnings in Week Ahead - 10 October 2011

With the "Occupy Wall Street" protests continuing to gain ground, America's financial system and economy remain hot topics for debate on both Wall Street and Main Street. Calling themselves "the 99 percent" these protestors, among other issues, are highlighting the fact that ordinary Americans are battling to cope, and their call has resonated with supporters around the world. Investors are painfully aware that the economy is significantly affected by consumer spending, which has been dramatically curtailed due to the ongoing jobless situation. Moreover, a recent survey revealed that workers are taking huge pay cuts to secure employment, with little hope of receiving increases, certainly not to the extent of raising them back to the pay level they may have been at before losing their jobs – all of which has a negative effect on disposable income and the economy.

• Double Dip Fears Return - 13 June 2011

As last week drew to a close, the Dow ended below the 12,000 mark amidst increasing concerns regarding the rate of recovery of the US economy. The Dow was down 172.45 points to close at 11,951.91, while the S&P 500 ended the week down 18.02 points on 1,270,98 and the Nasdaq composite dropped by 41.14 points to 2,643,73, being 1.4 percent, 1.4 percent and 1.53 percent respectively. This is the sixth week in a row that markets on Wall Street suffered losses, making it the longest consecutive weekly loss since 2002.

• CFPB: Championing the Rights of Consumers - 21 March 2011

US consumers are faced with a host of options when it comes to making purchases, applying for a mortgage, selecting personal banking services, and using credit cards and other financial services. The economic turmoil of the past two years or so has brought to the attention of authorities that not all consumers are equipped to make financial decisions in their own best interests. This has led to the formation of the Consumer Financial Protection Bureau (CFPB) which, under the jurisdiction of the Federal Reserve, regulates financial products and services offered to consumers, ensuring compliance with federal law, while at the same time educating consumers to enable them to make informed financial decisions.

• JP Morgan Chase Start Banking Sector Third Quarter Reporting - 14 October 2010

As the first of U.S. big banks to report its third quarter results, JP Morgan Chase revealed that it had earned $4.4 billion during this time, representing an increase of 23 percent compared to the same period last year. Earnings per share for the New York-based Fortune 500 company was recorded at $1.01, beating polled expectations of 90 cents a share. Furthermore, the funds set aside to cover bad loans, referred to as the provision for credit losses, was reduced to $3.2 billion, down a whopping 67 percent compared to last year's third quarter. The increase of sales volume in the card services division of the bank was 7 percent, with the commercial banking unit reporting $1.5 billion in revenue. Conversely, there was a decline of 33 percent in the company’s investment banking profits. Nonetheless, Chief Executive Jamie Dimon noted that he was cautiously optimistic about the economic outlook of the country, as well as that of JP Morgan Chase. He further reiterated that the bank is fully committed to promoting economic recovery and anticipated hiring more than 10,000 workers throughout the United States in the coming year. Moreover, Dimon revealed that he was hopeful that the bank's quarterly dividend will be reinstated in the first quarter of 2011 – good news indeed for investors.

• Financial Sector Drives U.S. Market As Investors Await Details of Toxic Mortgage Buy-Up Plan - 23 March 2009

Wall Street pulled back on Thursday and Friday of last week after enjoying a seven-day market rally which resulted in the Dow gaining 14 percent. Stocks jumped on Wednesday spurred on by the Federal Reserve’s latest credit crisis plan, but fell again Thursday and Friday as concerns set in that the Fed’s plan to inject a significant amount of money into the economy could fuel inflation. Optimists are quick to point out that any market rally is subject to pullbacks and anticipate that positive steps from the Obama-administration in dealing with righting the wrongs in the financial sector will reflect well on markets.

• Traders Optimistic About Proposed U.S. Bank Rescue and Economy Stimulus Programs - 9 February 2009

During a week which presented one wave of bad news after the other, Wall Street rallied and ended up with the Dow Jones industrial average closing on Friday at 8,280.59, the Nasdaq composite index at 1,591.71 and the S&P500 index at 868.60, reflecting increases of 2.7 percent, 2.94 percent and 2.69 percent respectively. The general consensus is that the increase which took place despite all the negativity in the market can be mainly attributed to optimism on behalf of stock market traders with regard to a bank rescue program to be unveiled by Treasury Secretary Timothy Geithner this week, possibly as early as Monday.