Why Treasury Needs a Plan B for Mortgages
New York Times - 2 hours 23 minutes agoThe Treasury’s mortgage-modification program relies on interest-rate reductions rather than principal cuts, which could cause a problem.
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News Stories
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One Way to Bet Against the Market
The Motley Fool - 2 hours 15 minutes agoHere's some honey for the bears.
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Are You Too Smart to Be Rich?
The Motley Fool - 2 hours 16 minutes agoYou just may be.
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Why Treasury Needs a Plan B for Mortgages
New York Times - 2 hours 23 minutes agoThe Treasury’s mortgage-modification program relies on interest-rate reductions rather than principal cuts, which could cause a problem.
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JCPenney shifts to bonds to save its pension fund
Worcester Telegram & Gazette - Sun Dec 6, 7:30 am ETJCPenney Co., the third-largest U.S. department-store chain, is dumping stocks from its retirement plans and gradually boosting bonds to 100 percent of investments - from 20 percent - as federal requirements to plug pension gaps take effect.
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Credit card firms revive inactivity fees
Honolulu Advertiser - Sun Dec 6, 7:14 am ETAmy Schiffman has had a Fifth Third Bancorp credit card for eight years to guard against unexpected overdrafts on her checking account. Now the bank wants to charge her $19 for not using it.
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Upbeat news follows astute observation
Rochester Democrat and Chronicle - Sun Dec 6, 5:17 am ETGood news in the U.S. employment report follows an economist's assurance that the American consumer will eventually be just fine.
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BofA repayment puts pressure on Wells, Citi
San Francisco Chronicle - Sun Dec 6, 3:41 am ETBank of America's surprise move to pay back $45 billion in federal bailout money ratchets up pressure on rivals Wells Fargo and Citigroup to get out from under the government's thumb. But don't expect it to happen anytime soon. That's because many banks,... Bank of America - Wells Fargo - Government - United States - Citigroup
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Lifting of pay restraints to ease BofA CEO search
Jefferson City News Tribune - Sun Dec 6, 2:05 am ETNEW YORK (AP) -- Bank of America Corp. has been having a tough time finding a new CEO willing to accept the restrictions that came as a condition of bailout funds.
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Geithner Rejects Goldman Sachs Assertion It Didn't Need U.S. Help
Bloomberg - Sat Dec 5, 6:58 pm ETDec. 5 (Bloomberg) -- Treasury Secretary Timothy Geithner disputed claims by Goldman Sachs Group Inc . executives that the bank could have survived the financial crisis without government help and said it and other Wall Street firms should show some restraint in handing out bonuses this year.
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Why Barney Frank Is Furious About Financial Reform
Newsweek - Sat Dec 5, 2:00 pm ETThe powerful Chairman of the House Financial Services Committee is doing his best to rein in Wall Street. You got a problem with that?
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Stock rally: Rest or recharge
CNN Money - Sat Dec 5, 9:10 am ETWall Street has finally gotten the piece of economic news it has been waiting for: the battered labor market may be starting to heal. But with major stock gauges at their highest levels in more than a year, recovery bets could already be baked into the cake.
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Losses keep banks from repaying feds
Fort Wayne Journal Gazette - Sat Dec 5, 4:14 am ETBank of America's surprise move to repay $45 billion in federal bailout money ratchets up pressure on rivals Wells Fargo and Citigroup to get out from under the government's thumb. But don't expect it to happen soon.
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Surprising jobs strength provides some promise
Hartford Courant - Sat Dec 5, 3:13 am ETIf the latest jobs numbers are any indication, Americans can worry less about pink slips and look forward to a year of economic healing.
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House going up, house going down in Egg Harbor Township
Press of Atlantic City - Sat Dec 5, 3:10 am ETEgg Harbor Township officials issued a violation notice to the owner of home at 677 Zion Road for being unsafe. Home is under renovation and township says it's unprotected. Owner has until Dec. 17 to commence renovations and Dec. 31 to correct problem or demolish it.
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Many homeowners with modified mortgages are behind on payments
Los Angeles Times - Sat Dec 5, 1:55 am ETAbout 25% of borrowers helped under the administration's massive foreclosure prevention program are delinquent, the Treasury Department says. About 25% of borrowers helped under the administration's massive foreclosure prevention plan have already fallen behind on their new mortgage payments, according to government data that raise new questions about the program's effectiveness.
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