U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years: “The guy on the street is going to ask, ‘What recovery?’ ” said Stuart G. Hoffman, chief economist at the PNC Financial Services Group in Pittsburgh. “The job market is still in reverse.” Obama signs bill to extend unemployment benefits: It doesn’t help people who will run out of benefits in 2010 – though Congress is expected to come back and pass legislation this year that extends that eligibility window into next year. Fannie Mae seeks $15B more in government aid after 3Q loss: The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs. At the end of last month, about 4.7% of Fannie Mae's borrowers had missed at least three payments. That's nearly triple last year's level.
Saturday, 7 November 2009
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