Aug. 31 (Bloomberg) -- U.S. stocks rallied, capping the first monthly gain since May, after President George W. Bush and Federal Reserve Chairman Ben S. Bernanke pledged to prevent credit losses from snuffing out the nation's economic expansion.
Fannie Mae, the largest source of money for U.S. home loans, and Goldman Sachs Group Inc., the biggest securities firm, climbed after Bush said the government will help people with delinquent mortgages keep their homes. Bernanke's promise to ``act as needed'' to limit the impact of loan defaults helped send consumer-related shares to the highest level in three weeks....
Fannie Mae, the largest source of money for U.S. home loans, and Goldman Sachs Group Inc., the biggest securities firm, climbed after Bush said the government will help people with delinquent mortgages keep their homes. Bernanke's promise to ``act as needed'' to limit the impact of loan defaults helped send consumer-related shares to the highest level in three weeks....
The foreclosures have already happened. They didn't stop them then and now Goldman Sachs sits at the the Left Hand of Bush to rake in even more Treasury dollars than Hank has already sent them through insider information. This 'bail out' plan will never achieve any help for these folks but only for those that could hold out at the top end of the income bracket. These boys don't care about Americans, only their beach homes in trouble of those high interest rates.
Tuesday August 21, 6:35 pm ET
By Alex Veiga, AP Business Writer
U.S. Home Foreclosures Jump Sharply in July, Up 9 Percent From June
LOS ANGELES (AP) -- The number of foreclosure filings reported in the U.S. last month jumped 93 percent from July of 2006 and rose 9 percent from June, the latest sign that homeowners are having trouble making payments and finding buyers during the national housing downturn....
U.S. Home Foreclosures Jump Sharply in July, Up 9 Percent From June
LOS ANGELES (AP) -- The number of foreclosure filings reported in the U.S. last month jumped 93 percent from July of 2006 and rose 9 percent from June, the latest sign that homeowners are having trouble making payments and finding buyers during the national housing downturn....
