Category Archives: Banking

Foreclosure flood may not have crested yet

By doris | Published: May 22, 2011

Full Story at msnbc.com If the national foreclosure crisis were a baseball game, we would be in about the top of the sixth. And we may have to go to extra innings. Since the housing market peaked in 2006, some 6.5 million homes have been lost to foreclosure. There are likely another 4.3 million more [...]

Also posted in Economy, Financial, Foreclosure, Home, Loans, Market, Money | Leave a comment

U.S. hits debt ceiling

By doris | Published: May 16, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — It’s official: The U.S. government hit the debt ceiling on Monday, Treasury Secretary Timothy Geithner told Congress. Geithner said he would have to suspend investments in federal retirement funds until Aug. 2 in order to create room for the government to continue borrowing in the debt markets. [...]

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Get some ‘vroom!’ without breaking the bank

By doris | Published: April 17, 2011

Full Story at msnbc.com Think you’ve got to spend big if you want a fast car? Think again. Plenty of affordable cars will do zero to 60 mph in under six seconds; some are one-third the price of racers from Porsche or BMW. The Ford Mustang GT, the Ford Mustang coupe and the rally-style Subaru [...]

Also posted in America, Auto, Speed | Leave a comment

$513 million paid in undeserved homebuyer credits

By doris | Published: April 16, 2011

Full Story at  msnbc.com WASHINGTON — The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn’t qualify, a government investigator said Friday. Most of the money — about $326 million — went to more than 47,000 taxpayers who didn’t qualify as first-time homebuyers because [...]

Also posted in Government, Home, Investors, IRS, Tax | Leave a comment

Gold, silver and oil: The rally is back

By doris | Published: April 6, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Oil, gold and silver have been hitting new highs and experts expect the momentum to continue. A combination of a weaker dollar, geopolitical turmoil and general fears about inflation will keep commodities elevated for the next several months, say analysts.

Also posted in America, Financial, Gas or Oil, Market, Money | Leave a comment

Bank bailout turns a profit

By doris | Published: March 30, 2011

Full Story at money.cnn.com The bank bailout — part of the Troubled Asset Relief Program — is now $6 billion in the black, a profit that might ultimately rise to $20 billion, according to the Treasury. And that’s nice. But if you look at the whole program, there are still some trouble spots, and not [...]

Also posted in America, Assets, Bailout, Business, Financial, Loans, Money, Pay Back, Repay | Leave a comment

Stocks end higher for the day, lower for the week

By doris | Published: March 11, 2011

Full Story at Money.cnn.com NEW YORK (CNNMoney) — Despite posting decent gains during Friday’s session, stocks finished a choppy week of trading lower, as investors remained on edge in the wake of a massive earthquake and tsunami in Japan that have added to concerns over conflict in North Africa and the Middle East. The Dow [...]

Also posted in Business, Economy, Gains, Investors, Stocks | 1 Comment

Banks are lowering credit card rates in response to CARD Act

By doris | Published: March 9, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — More than a million Bank of America customers saw their credit card rates decrease last month, the nation’s largest credit card issuer confirmed this week. And more cuts are coming from all the big banks. The rate declines come as a result of the CARD Act, which [...]

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Stocks surge as banks lead gains, oil drops

By doris | Published: March 8, 2011

Full Story at Money.cnn.com NEW YORK (CNNMoney) — U.S. stocks closed broadly higher Tuesday, led by a strong performance in the financial sector. Easing oil prices lent further support. Crude prices retreated following reports that Libyan leader Moammar Gadhafi is working to step down and exit the country safely.

Also posted in America, Corporate, Market, Money, Stocks, Wall Street | Leave a comment

From Guns N’ Roses bassist to money manager

By doris | Published: March 4, 2011

Full Story at money.cnn.com The former Guns N’ Roses bass player says years of drug and alcohol abuse caused the rupture, which left him sidelined for months. As he recovered from the incident at home and sobered up, he found himself with hours of free time and little to do. McKagan wandered into his basement [...]

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AIG: Back in black

By doris | Published: February 24, 2011

Full Story at finance.fotune.cnn.com No need to get your eyes checked. AIG just reported a huge profit. In a sight many of us never thought we’d see, the bailed-out insurer AIG (AIG) returned to the black Thursday, posting an $11 billion profit for the fourth quarter of 2010 and $10 billion in earnings for the [...]

Also posted in Bailout, Bonuses, Business, Corporate, Financial, Money | Leave a comment

Why Obama can’t save infrastructure

By doris | Published: February 17, 2011

Full Story atfinance.fortune.cnn.com Here are two things we all can agree on about America’s transportation infrastructure: (1) It is in desperate need of costly repairs, and (2) Our political leaders cannot agree on how to pay for them. President Obama dove into the conversation this week, proposing $556 billion in new infrastructure spending over the [...]

Also posted in Government, Money, Safety, Security, Spending | Leave a comment

U.S. to press China on currency

By doris | Published: February 15, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — U.S. officials will continue to press China over the manipulation of its currency at this week’s G-20 summit, a senior Treasury Department official said Tuesday. The two-day summit of central bank governors and finance ministers, held in Paris, will take place against the background of a recovering [...]

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White House wants less gov’t in mortgage system

By doris | Published: February 12, 2011

Full Story at news.Yahoo.com WASHINGTON – The Obama administration wants to shrink the government’s role in the mortgage system — a proposal that would remake decades of federal policy aimed at getting Americans to buy homes and would probably make home loans more expensive across the board. The Treasury Department rolled out a plan Friday [...]

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