Banks may need to raise fresh capital in ‘09: Whitney (Reuters)

Financial News: January 7, 2009

Reuters - U.S. banks will have to raise fresh capital in 2009, and a sharp increase in credit-rating downgrades on mortgage-related securities will lead to further stresses on the companies’ capital, according to prominent banking analyst Meredith Whitney.

Banks may need to raise fresh capital in ‘09: Whitney (Reuters)

Fed and other agencies to join U.S. fraud task force (Reuters)

Financial News: January 7, 2009

A foreclosed home is shown in Corona, California, December 18, 2008. (Lucy Nicholson/Reuters)Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.

Fed and other agencies to join U.S. fraud task force (Reuters)

British house prices fell by record amount in 2008 (AP)

Financial News: January 6, 2009

AP - British house prices fell by their biggest annual amount in at least 56 years during 2008 as credit seized up and incentives to enter the market evaporated amid sliding home values, a leading mortgage lender said Tuesday.

British house prices fell by record amount in 2008 (AP)

Madoff scandal, SEC role under scrutiny (AP)

Financial News: January 6, 2009

Allan Goldstein, a retiree and investor with Bernard L. Madoff Investment Securities, testifies before the House Committee on Financial Services, Monday, Jan. 5, 2009, on Capitol Hill in Washington. (AP Photo/Haraz N. Ghanbari)AP - Two more months of mortgage payments and retiree Allan Goldstein says he’ll be broke, just another victim in what may be the biggest Ponzi scheme in history.

Madoff scandal, SEC role under scrutiny (AP)

Plan B for retirees who counted on home equity (AP)

Financial News: January 3, 2009

AP - The safety net is almost gone, the nest egg is cracking.

Plan B for retirees who counted on home equity (AP)

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