By STEPHEN LABATON and EDMUND L. ANDREWS : WASHINGTON — The Bush administration seized control of the nation’s two largest mortgage finance companies on Sunday, seeking to shrink drastically their outsize influence on Wall Street and on Capitol Hill while at the same time counting on them to pull the nation out of its worst […]
Posted on September 8th, 2008 by admin
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By GRETCHEN MORGENSON and CHARLES DUHIGG : The government’s planned takeover of Fannie Mae and Freddie Mac, expected to be announced on Sunday, came together after advisers poring over the companies’ books for the Treasury Department concluded that Freddie’s accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter.
The proposal […]
Posted on September 7th, 2008 by admin
Filed under: Mortgage, Business | No Comments »
By GERALDINE FABRIKANT : When Maurice L. McAlister set out to build houses for soldiers returning from World War II, he put an ad in a local newspaper that read: “Money Wanted.”
Today the Downey Financial Corporation, the big California savings and loan that Mr. McAlister went on to help found, has effectively put up the […]
Posted on September 6th, 2008 by admin
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By ANDREW ROSS SORKIN and ANDREW MARTIN : Altria Group is in advanced talks to buy UST, the maker of the popular Skoal and Copenhagen smokeless tobacco brands, for more than $10 billion, people with close knowledge of the negotiations said late Thursday. The terms could not be learned.
The acquisition, which is at a delicate […]
Posted on September 5th, 2008 by admin
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By KATE GALBRAITH : SAN FRANCISCO — With the California blackouts of 2001 still a painful memory, Chris Beaudoin wants to generate some of his own electricity. He
marveled the other day at how close he is to that goal, gazing at two new wind turbines atop his garage roof. They will soon be hooked […]
Posted on September 4th, 2008 by admin
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By DAVID POGUE : Does the world really need another Web browser?
Google thinks so. Chrome, its new browser, was developed in secrecy and released to the world Tuesday. The Windows version is available for download now at google.com/chrome; the Mac and Linux versions will take a little longer.
Google argues that current Web browsers were designed […]
Posted on September 3rd, 2008 by admin
Filed under: Business, Technology | No Comments »
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