Some recovery noted, finally, subprimes proven unsustainable, insurers and secret payments, tax credit may boost real property, Fed sits on Bear Stearns garbage, The massive markdown of Maiden Lane, warning signs for the market says Greenspan
Industrial production in the U.S. rose more than anticipated in January as factories churned out more consumer goods and business equipment, leading the recovery of the world’s biggest economy.
The 0.9 percent increase in production at factories, mines and utilities followed a 0.7 percent gain the prior month, according to the Federal Reserve in Washington. Figures from the Commerce Department today showed housing starts climbed to a 591,000 annual pace, exceeding the median forecast in a Bloomberg News survey.
Fannie Mae and Freddie Mac would no longer be able to rely on subprime mortgages to meet their government-mandated goals for helping lower-income Americans obtain mortgages, according to proposed regulations.
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