Existing home sales sank 8 percent last month, to the lowest pace on record, according to the latest reading on the state of the battered real estate market released Wednesday.
Merrill Lynch &Co. Inc. took a $7.9 billion writedown in the third quarter due to bad mortgage bets, well exceeding its initial estimates and raising questions about whether the worst is over for the Wall Street firm.
The wars in Iraq, Afghanistan and anti terrorist efforts abroad could cost the country $2.4 trillion over the next ten years, according to a report Wednesday.
Stocks remained significantly lower in Wednesday afternoon trade, hurt by a big slowdown in existing home sales and following dismal quarterly results from Merrill Lynch.
"We are cowards." That's how Marty Whitman, the octogenarian dean of deep-value investors, describes himself and his colleagues at the firm he founded, Third Avenue Management.
Bar mortgage brokers from getting bonuses to sign up borrowers for more costly loans. Force lenders to verify whether consumers are able to repay loans.
Can't remember the number of the restaurant you wanted to go to for dinner, or the name of that movie theater around the corner? Before you dial directory assistance from your cell phone, think for a minute about what it will cost you.
