Bernanke cites housing and jobs as top economic hurdles
Federal Reserve Chair Ben Bernanke told Dallas business audiences that housing and unemployment are the nation’s largest challenges. He warned the recovery is fragile with rising foreclosures and a very weak job market despite low interest rates, noting unemployment near 9.7 percent.
MENTIONED IN THIS ARTICLE
Washington, D.C
Federal Reserve
Ben Bernanke
Bernanke
Dallas
Fed
SEC proposes 5 percent skin in the game for asset backed securities
The SEC votes 5 0 to require Wall Street firms that package asset backed securities to hold at least 5 percent of the loans on their books. The rule aims to curb risk by forcing better borrower screening and fuller disclosures, including loan type and documentation. The proposal also drops reliance on credit ratings for SEC approval and targets enhanced transparency amid past subprime turmoil.
MENTIONED IN THIS ARTICLE
Washington, D.C
Securities and Exchange Commission
Wall Street
Federal Reserve
SEC
Kathleen Casey
Troy Paredes
Paredes
Moody’s Investors Service
Standard & Poor’s
Fitch Ratings
Also Mentioned on This Page
Whiskey Road
Aiken
Bob
Red Sea
Old
Petersburg
Augusta
Southern Gate
Pndt
Chariy¢ston
Southern Oak
Pndt Reg
Richland Ave
Aiken, S. On