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Even after the S&P lowered the savings-and-loan credit rating today Washington Mutual’s shares rose 16% higher than opening. WaMu was one of the largest profiteers from the housing boom and is now in trouble with the largest mortgage lenders going belly-up. There are even …

Tomorrow up to 400,000 homeowners can take a sigh of relief after the Senate passes a bill to let them refinance into lower interest loans. This will be backed by the Federal Housing Administration. The rescue gives the Treasury an unlimited amount of money …

On Friday, federal regulators seized IndyMac’s bank assets. The lender was overtaken because of falling home price and increasing foreclosures. It has become the second largest financial institution in the United States to close…ever.
I find it strange that this came the same day speculation about …