Senate OKs Landmark Powers to Dismantle Failing Firms
In its first unified front on a Wall Street reform proposal, the Senate today approved 93-5 an amendment that outlines the orderly liquidation of large, failing firms that pose systemic risk, while tightening emergency ...
MasterCard, Visa Profits Signal Credit Buying Upswing
As consumers started spending more in the first quarter, they were not hesitant to use their credit cards as Visa and MasterCard earnings show, with better than anticipated profits and higher transactions volume.
MasterCard ...
Tax Credits & Surging Home Sales: What Happens After April 30?
The major housing indicators agree that the homebuyer tax credits – extended and expanded late last year – finally kicked in last month as new home sales soared 27 percent for March, a month over month rate ...
Goldman Sachs: Long on Profit, Short on Its Good Name
April 24 Update: Goldman’s ‘Big Short’: E-mails Show Firm Bet on Housing Meltdown
Goldman Sachs & Co. was still reeling today from the civil fraud case brought against the firm and a vice president when ...
932,234 Properties: Foreclosure Filings Set New Highs in 1st Quarter
Foreclosure actions set too many records in the first quarter – the highest monthly total in March and the highest quarterly number for bank repossessions, or REOs – with 932,234 properties affected, a 7 percent ...
IRS: 10 Ways to Avoid Income Tax Return Errors
With the mounting pressure of filing your income tax return by April 15, the Internal Revenue Service says mistakes become increasingly common.
Math errors by paper filers are still frequent in tax returns. Your ...
Short Sale Foreclosure Fix with Debt Forgiveness is Underway
The Obama Administration today launches its first program to offer a short sale, or a deed-in-lieu, to rescue homeowners from foreclosure, while forgiving the difference between the sale price and the amount owed ...
Obama Signs ‘Meaningful Reform’ of Student Loan System
President Obama today signed into law a landmark overhaul of the federal student loan system that promises to bolster Pell Grant funding, make it easier for graduates to repay college aid and save $68 billion by ...
Principal Writedowns New Option in Foreclosure Rescues
In a move long sought by critics of the government’s foreclosure prevention program, U.S. Treasury officials today said principal writedowns to 115 percent of loan-to-value will be offered as an alternative mortgage ...
Obama: Tax Breaks Eye Small-Biz Owners ‘on the Fence’
President Obama today signed into law a jobs bill offering tax breaks that he said would particularly help struggling small business owners who are “on the fence” about hiring an additional worker or “anyone ...
