March 11 at 5:47 a.m.
Filed under:
Consumer news,
Credit Cards
By Dow Jones Newswires-Wall Street Journal
U.S. families — by defaulting on their loans and scrimping on expenses — shouldered a smaller debt burden in 2010 than at any point in the previous six years, putting them in position to start spending more.
Total U.S. household debt, including mortgages and credit cards, fell for the second straight year in 2010 to $13.4 trillion, the Federal Reserve reported Thursday. That came to 116 percent of disposable income, down from a peak debt burden of 130 percent in 2007, and the lowest level since the fourth quarter of 2004. Get the full story »
Aug. 6, 2010 at 4:16 p.m.
Filed under:
Government,
Housing,
Mortgages
By Dow Jones Newswires
Federal Reserve Chairman Ben Bernanke believes lawmakers have multiple options when it comes to replacing troubled mortgage giants Fannie Mae and Freddie Mac.
“There are a variety of organizational forms that might replace Fannie Mae and Freddie Mac that could likely provide mortgage credit without the systemic risks associated with these institutions in the past,” Bernanke said in a set of written responses to Rep. Marcy Kaptur (D., Ohio) released Friday. Get the full story »
