May 23 (Bloomberg) -- Lewis Ranieri , the mortgage bond pioneer trying to salvage a Texas bank that lost more than 90 percent of its value, is seeking $1 billion for a separate venture to buy home loans.

(This is a repeat of a previous story ahead of Kookmin Bank, Shinhan Financial Group and Woori Finance Holdings' release of quarterly results on Friday)

A few months ago I found myself at a meeting of economists and finance officials, discussing - what else? - the crisis. There was a lot of soul-searching going on. One senior policymaker asked, ``Why didn't we see this coming?''

With the future of the free market system in the United States still in limbo and a recovery plan that remains to be seen, anxiety is running high for students looking to finance a college education, many of whom are testing the job market.

U.S. Senate leaders have agreed to a bipartisan bill to establish a $300 billion rescue fund for troubled mortgages and a new regulator for Fannie Mae and Freddie Mac, lawmakers said on Tuesday.