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Debate Over Consumer Agency Continues as Obama Taps Cordray to Lead Monday, July 18, 2011 @ 7:46PMListen to the Audio JUDY WOODRUFF: One of the most prominent and contentious changes in the financial regulation law was the creation of a consumer protection bureau. Today, the president picked a leader for that agency. But the debate is hardly over. After months of a fierce behind-the-scenes battle, President Obama tapped a former Ohio attorney general to head the new Consumer Financial ...
Krugman: Going easy on bankers not answer Monday, July 18, 2011 @ 7:01PMKrugman: Going easy on bankers not answer
State needs to promote business, cut government Monday, July 18, 2011 @ 6:56PMGov. Rick Snyder and the Michigan Legislature have passed sweeping tax reforms, including a new flat 6 percent business tax replacing a cumbersome and complicated business tax with surcharges saving businesses $1.8 billion.
Fitch Rates Rhode Island's $31.5MM Lease Appropriation Ctfs 'AA-'; Outlook to Stable Monday, July 18, 2011 @ 6:24PMNEW DELHI & SYDNEY & SINGAPORE--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA-' rating to the state of Rhode Island and Providence Plantations' lease participation certificates consisting of: --$31.5 million 2011 series A (Energy Conservation Project). The bonds are expected to sell via negotiation on or about July 20, 2011. In addition, Fitch affirms the following ratings: --$1.049 billion in ...
Business Highlights Monday, July 18, 2011 @ 5:47PM___
First BanCorp Announces Increase in the Amount of the Proposed Capital Raise and Rights Offering Monday, July 18, 2011 @ 5:39PMSAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp (the “Corporation”) (NYSE:FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today announced it has entered into amended agreements with Thomas H. Lee Partners, L.P., funds managed by Oaktree Capital Management, L.P. and other institutional investors to increase the maximum size of the previously announced ...
Are These Former Heroes Going to Zero? Monday, July 18, 2011 @ 5:20PMThese all-or-nothing bets worked, until they didn't.
Steve Garcia: The Debt Ceiling Debate Provides an Opportunity for Change Monday, July 18, 2011 @ 5:13PMThere is no better time for Democrats and Republicans to come together and show that they are greater than the politics that separate them.
Dr. Randal Pinkett: The Black Faces in White Places Interview Monday, July 18, 2011 @ 4:34PMHe’s the only African-American-winner of Donald Trump’s reality-TV show, “The Apprentice.”
Christie ready to restore aid to NJ cities Monday, July 18, 2011 @ 4:23PMGov. Chris Christie is backing legislation that restores $139 million in aid to ailing cities that he cut during a spate of 11th-hour budget vetoes because of a tiff with Democrats over how the funds would be administered and overseen.
Las Vegas Attorneys Build Business By Telling Homeowners To Stop Paying Mortgages Sunday, July 17, 2011 @ 3:59AMYour neighbors aren't paying on their mortgages so why should you? That provocative question is being posed by a Las Vegas law firm's TV ad campaign, and the commercials are stirring debate. The Haines & Krieger law firm's spots, promising to show homeowners
Michael Barone: Government can't spend us out of economic doldrums Sunday, July 17, 2011 @ 1:16AMTwo years ago, in June 2009, the American economy emerged from recession, according to the National Bureau of Economic Research.
JPMorgan liquidating mortgage portfolio Saturday, July 16, 2011 @ 12:10AMJPMorgan Chase is winding down its $154 billion mortgage portfolio to "close to zero" as the bank works through mortgage losses and litigation over loan-servicing and foreclosure practices.
Foreclosure Protesters in Spain's Cities Now Go Door to Door Friday, July 15, 2011 @ 11:55PMMADRID -- When the police arrived recently to evict María José del Coto Maeso, 53, they found the street in front of her ground-floor apartment crowded with protesters, and they retreated.
Bank of America, Cisco, and Hewlett-Packard All Near 52-Week Lows Friday, July 15, 2011 @ 6:06PMBy teddycx. According to GuruFocus's list of 52-week lows, Bank of America Corp. ( BAC ), Cisco Systems Inc. ( CSCO ), and Hewlett-Packard Co. ( HPQ ) are all traded close to their 52-Week Lows. Read more » »
Nearly 30 foreclosed homes off market, have new owners Friday, July 15, 2011 @ 5:35PMNearly 30 foreclosed homes are off the market thanks to the city's participation in a federal program, a Los Banos official said.
Economic Preview: Latest reports from the epicenter of crisis due Friday, July 15, 2011 @ 3:12PMThe coming week will be dominated by the latest readings on the health of the housing market, which Federal Reserve Chairman Ben Bernanke dubbed the “epicenter” of current economic malaise.
Two Canadian views on the U.S. debt crisis Friday, July 15, 2011 @ 2:30PMComment: If politicians cannot let reason prevail and avert a U.S. default the consequences will be dire, not only for America, but the world
Illegal Cash-Back Deals Worsened The Housing Bubble, Drove Up Foreclosures: Report Friday, July 15, 2011 @ 8:44AMIt’s a tactic that’s been in use for years : Sell a house to someone at an inflated price, but offer the buyer an incentive to take it -- like a few thousand dollars in cash back.
Endless Bummer: Americans Suffer in 2011 Monday, July 11, 2011 @ 7:33AMBOSTON (TheStreet) -- The country's economy is grinding along two years after the Great Recession ended. A growing number of Americans worry they'll never regain the sense of financial security they once had. Prices for gas, oil and food have risen, fees of all kind are up, the job market is worsening and property values are in a deep slump. In contrast, many of the nation's wealthy are doing ...
The lost frontier Saturday, July 9, 2011 @ 4:39AMWay back last century, America went space happy. Astronauts were rock stars, flying in the face of gravity and Earth-bound limits, setting celestial records nearly every day. Lost in our love of space, we gazed up at the flecks of glitter in the night sky and wondered what was out there and how far we might someday go. For the past 30 years, Nasa’s space shuttles have served as the primary ...
Fights between homeowners turning ugly Friday, July 8, 2011 @ 11:26PMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to. It was affordable. The pool and clubhouse were tidy, the lawns freshly snipped. Residents, push-carts in tow, walked to the beach, the bank, the beauty parlor, the cinema and the supermarket.
Buffett predicts job growth when housing rebounds Friday, July 8, 2011 @ 4:24PMBillionaire investor Warren Buffett said Friday the nation’s employment picture will improve significantly once residential housing construction rebounds.
GOP Ad Likens Obama's Presidency to Train Wreck; Calls for Change in Direction Friday, July 8, 2011 @ 3:43PMThe Republican National Committee's latest attack ad uses speeding vehicles to describe the Barack Obama presidency as a wreck.
Freddie Mac orders Hawaii foreclosures into courts Tuesday, July 5, 2011 @ 7:43PMThe Associated Press The Associated Press HONOLULU Government-controlled housing finance company Freddie Mac is moving all its Hawaii home foreclosures into the courts in response to a new state law. Freddie Mac is following in the footsteps of government mortgage company Fannie Mae, which last month announced its Hawaii foreclosures should be handled by the judicial system rather than the ...
Borrowers sue over apparent loan mod mishaps Tuesday, July 5, 2011 @ 6:43PMIt seemed Maria Campusano's financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.
TRENDING: Word battle wages: Romney vs. Democrats Tuesday, July 5, 2011 @ 11:06AM(CNN) – Despite continued push-back from Democrats, Republican presidential candidate Mitt Romney stuck to his line for a second straight...
US home prices 'unlikely’ to fall further Sunday, July 3, 2011 @ 5:11PMHomes in the U.S. are the most affordable they’ve been in decades and prices may start to climb as soon as the third quarter, Housing and Urban Development Secretary Shaun Donovan said today.
Foreclosure overhaul leads to Hawaii housing glut Sunday, July 3, 2011 @ 2:03PMWhen Hawaii passed a new law with extensive protections to prevent residents from losing their homes, it was hailed as the nation's strongest foreclosure law -- maybe too strong, many warn.
With economy down, more prostutition stings Sunday, July 3, 2011 @ 1:38PMMichael, a 33-year-old, unemployed, single father, was one of the first to take the bait at the prostitution sting in Lake Worth last month . He was walking along Dixie Highway in broad daylight when he offered money to a prostitute who turned out to be a decoyed sheriff's deputy.
With economy down, more prostitution stings Sunday, July 3, 2011 @ 1:26PMMichael, a 33-year-old, unemployed, single father, was one of the first to take the bait at the prostitution sting in Lake Worth last month .
Americans Agree U.S. Is Exceptional, Poll Finds Sunday, July 3, 2011 @ 12:46PMA new Gallup poll reports that Americans are starting to think more often about our roots and widely agree that the United States has a unique character because of its history and Constitution.
Moratorium on demolitions pushed Sunday, July 3, 2011 @ 11:27AMMilitant labor group Partido ng Manggagawa is urging Malacañang to declare a moratorium on demolitions, evictions and foreclosures on informal settlers while a new comprehensive housing policy is not yet in place.
County payroll frozen until 2014 Sunday, July 3, 2011 @ 5:06AMOakland County employees, who took pay cuts the past two years, will get no pay increases for the next two years before a 1 percent raise in fiscal year 2014 kicks in.
Hero needed to help save neglected South Side, say residents Sunday, July 3, 2011 @ 4:21AMSome neighborhoods have champions to help guide them along the uncertain path to revitalization.
Hill GOP goes silent on gay marriage Saturday, July 2, 2011 @ 6:49AM“The only person who ever asks me about it is, I think, the media,” says Sen. Dean Heller.
Construction spending falls 0.6 pct. in May Saturday, July 2, 2011 @ 3:48AMWASHINGTON — Builders began work on fewer projects in May, led by steep declines in apartment construction and less spending by state and local governments. Construction spending declined 0.6 percent in May to a seasonally adjusted annual rate of $757.
Spending on construction continues to drop Saturday, July 2, 2011 @ 12:12AMWASHINGTON — Builders began work on fewer projects in May, led by steep declines in apartment construction and less spending by state and local governments.
Nonprofits get $511,000 to fight South Bay, Peninsula foreclosures Friday, July 1, 2011 @ 11:50PMSouth Bay and Peninsula residents at risk of losing their homes got a boost Friday when the Silicon Valley Community Foundation awarded $511,000 to organizations who work to prevent foreclosure.
'And If Elected I'll Fix the Housing Market' ... Probably Not Friday, July 1, 2011 @ 4:07PMA carpenter installs vinyl siding for a new home under construction in Raleigh, N.C., in May. Photo by Jim R. Bounds/Bloomberg via Getty. As the economic troubles that began with the last recession drag on and on, the drop in housing prices and construction is, correctly, labeled as a key problem. And it is big topic among 2012 presidential hopefuls. On Monday, Rep. Michele Bachmann told the ...
SEC Exemptions, ASR Property Fund, ASIC Governance: Compliance Thursday, June 30, 2011 @ 11:28PMThe U.S. Securities and Exchange Commission needs to improve oversight of firms exempt from certain regulations, the agency’s watchdog said, citing “numerous” cases in which companies violated conditions of the waivers.
Bill Clinton Says BofA Deal May Lead to Principal Reductions Thursday, June 30, 2011 @ 6:37PMFormer President Bill Clinton said Bank of America Corp.’s accord with mortgage-bond investors may give more “underwater” borrowers a chance to cut the amount owed on their home loans.
Bair of F.D.I.C. Warns About Dodd-Frank Act Thursday, June 30, 2011 @ 5:44PMSheila C. Bair told a Senate committee that regulators needed the means to put the financial overhaul bill into effect.
Pimcos Simon: There Was Never a Housing Recovery Thursday, June 30, 2011 @ 1:05PMBearish outlooks on housing arent hard to find these days, but one stands out even for this market.
Fannie Mae Silence on Taylor Bean Led to $3 Billion Fraud Thursday, June 30, 2011 @ 12:23PMThe first sign of what would ultimately become a $3 billion fraud surfaced Jan. 11, 2000, when Fannie Mae executive Samuel Smith discovered Taylor, Bean & Whitaker Mortgage Corp. sold him a loan owned by someone else.
Free Tax Lien Help Available At July 6 Session In Glendale Thursday, June 30, 2011 @ 12:19PMState Sen. Joseph Addabbo, As semblyman Mike Miller and City Council Member Elizabeth Crowley are sponsoring a free tax lien assis tance outreach event on Wednesday night, July 6, at P.S. 91 in Glendale. As announced, the session will take place from 4 to 7 p.m. at the public school located at 68 10 Cen tral Ave. Visitors should enter the building on 68th Place. read more
Poll Shows That Homeownership Remains Attractive to Many Thursday, June 30, 2011 @ 11:49AMThe dream of Black homeownership still exists, but in these times it is often a dream deferred.
New Government Program Provides Up to $50,000 to Struggling Homeowners Thursday, June 30, 2011 @ 10:18AMAlthough the government's efforts to stop foreclosures have had lackluster results, another new…
AG awards grant to help with foreclosures Thursday, June 30, 2011 @ 9:45AMDENVER — Colorado Attorney General John Suthers has awarded the Colorado Foreclosure Hotline a $600,000 grant to help homeowners avoid foreclosure over the next two years.
Temporary Dip, Or Rebel Without A Pause? Thursday, June 30, 2011 @ 9:26AMWithout government stimulus, it's back to the slow slog for financial markets. Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality se...