US President Barack Obama is proposing a major reform of banking regulation in order to prevent future meltdowns of the US banking system.
Mr Obama described the reforms as biggest overhaul of the system since the 1930s, which will see major banks put more money aside against future losses to prevent excessive risk taking.
The objective is to tackle the weaknesses that the sub-prime crisis and the financial meltdown revealed in the US regulatory system.
Speaking …
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Tags: Banks, Barack Obama, finance, financial, Investments, markets, money, UK
June 18th, 2009 at 1:24 pm
I am a middle aged male with excellent credit and an approval from a good lender to buy a short sale home held by countrywide. Our offer to purchase is within $4000 of the appraised value. We have been trying to close on this home for over 15 months. Countrywide does not seemed to be in any hury to liquidate any of their bad mortgages. Why has congress not put pressure on Countrywide to move these homes? And what about the poor homeowners that are stuck with these homes? I would like for someone to contact me so that I can provide to them all the emails and the history of our attempt to buy a short sale home from Countrywide at or near the appraised value. They want to sell the home for over the appraised value, which is what got this country iin this mess to start with.
Thank you
Preston of Tampa, FLA.