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Friday, July 11, 2008
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Financial 'super cop' role for Fed
Summary from multiple countries, from articles in English
The heads of the Federal Reserve and the US Treasury have moved to calm fears about the financial health of the nation's two largest mortgage firms. (article 4) Mr Bernanke also again suggested that Congress consider giving regulators new tools to wind down in an orderly way investment banks that are on the verge of bankruptcy. (article 3) Such procedures, which are in place for commercial banks, might have made the dissolution of investment firm Bear Stearns more orderly. (article 5) The Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists. (article 6) WASHINGTON - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs. (article 7) To that end, Bernanke said the Fed may give squeezed Wall Street firms more time to tap the central bank's emergency loan program. (article 7) Ben S. Bernanke publicly indicated on Tuesday that he believes the problems will persist into next year when he outlined a series of steps the Fed is considering in the coming months. (article 9)

Other summaries about this story:
  • Summary from the United Kingdom, from articles in English (3 articles) [compare]
  • Summary from United States, from articles in English (7 articles) [compare]

  • Other stories about Fannie, Freddie and Bernanke:
  • McCain: "We Will Not Allow" Fannie and Freddie to Fail (15 articles)

  • Event tracking:
  • Track this story's development in time

  • Story keywords
    Fannie, Freddie, Bernanke, Financial, Fed

    Source articles
    1. U.S. needs financial regulatory overhaul: officials (Washington Post, 07/10/2008, 320 words)
    2. Financial 'super cop' role for Fed (BBC News, 07/10/2008, 668 words)
    3. Fed calls for tighter regulation of banks (ft.com, 07/10/2008, 309 words)
    4. US seeks to calm investor fears (BBC News, 07/10/2008, 507 words)
    5. Fed chief: Gov't needs more power when firms fail (Washington Post, 07/10/2008, 482 words)
    6. Fed ready to aid investment banks (BBC News, 07/09/2008, 295 words)
    7. Fed to curb shady home-lending practices (seattletimes.nwsource.com, 07/09/2008, 1170 words)
    8. Fed may issue new rules for mortgage issuers, extend lending to investment firms (dallasnews.com, 07/08/2008, 1127 words)
    9. Fed Sees Turmoil Persisting Deep Into Next Year (nytimes.com, 07/09/2008, 824 words)
    10. Federal Financial Regulators Agree to Share Information (nytimes.com, 07/08/2008, 367 words)




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