Tag Archives: firstfed financial corp

Fed Keeps Short-Term Interest Rates Near Zero

Most economists expect inflation to jump as the federal government must finance enormous deficits, theoretically crowding out private businesses in the struggle for loans. Though economic activity is no longer declining, it’s not advancing much either. A shaky economy prompts … Continue reading

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Helping Troubled Banks

From the Los Angeles Times: The government’s $700-billion bailout plan probably comes too late to help such faltering lenders as FirstFed Financial Corp. of Los Angeles and Downey Financial Corp. of Newport Beach, which stuffed their investment portfolios with multibillion-dollar … Continue reading

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IndyMac Bank Slashes Workforce

From the Los Angeles Times: IndyMac Chief Executive Michael W. Perry said attempts to work with investment bankers to raise capital, announced in March, had been unsuccessful. IndyMac shares, which traded above $30 last July, closed at 71 cents Monday, … Continue reading

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Refinance Crisis Forces Southern California Savings & Loans To Struggle

The Los Angeles Times reports: Investors are increasingly throwing in the towel on Southern California-based savings-and-loan mortgage lenders IndyMac Bancorp, FirstFed Financial Corp. and Downey Financial Corp. Defaults keep climbing on the nontraditional mortgages made by the companies, and bond … Continue reading

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