by Moe Bedard
Rod Brown, president of the California Bankers Association, said that despite this novel and helpful move, more bank failures probably lie ahead.
“At best we are only halfway through this thing,” he said.
Anderson said his firm has a ranking system that considers 29 out of California’s 297 banks in danger of failure over the next year. [...]
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by Moe Bedard
WASHINGTON – The Federal Housing Administration, which propped up the collapsing housing market last year, acknowledged yesterday that it has drained its cash reserves to dangerously low levels, heightening concerns that it might need a taxpayer bailout.
The agency, which guarantees loans for many first-time homebuyers, could be hit if housing prices lose ground or if [...]
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