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April 2009 - Around The Web



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  • Housing: False Bottom Exposed
    Published Thu, Apr 30 2009 9:11 AM by Seeking Alpha
    submits: DataQuick reported that 135,431 default notices were filed in California during the 1st quarter 2009. This is an all time high since 1992 when DataQuick began tracking default notices. Here are the numbers for comparison: 1Q08: 113,809 2Q08:...
  • BofA vote ends in ignominous defeat for Lewis
    Published Wed, Apr 29 2009 8:38 PM by www.ft.com
    For Ken Lewis, the Bank of America chief executive who rose to the pinnacle of US finance through his extraordinary organisational abilities, Wednesday's shareholder meeting went dangerously off-script before it ultimately ended in defeat
  • Banks urge Senate to reject mortgage relief bill
    Published Wed, Apr 29 2009 3:10 PM by www.washingtonpost.com
    WASHINGTON -- A dozen financial groups, including the U.S. Chamber of Commerce and American Bankers Association, on Wednesday urged every member of the U.S. Senate to reject a key piece of President Barack Obama's plan to keep tens of thousands of...
  • Geithner pushes for credit card reform
    Published Wed, Apr 29 2009 3:09 PM by www.washingtonpost.com
    WASHINGTON -- The Obama administration is pressing for passage of legislation to rein in credit card practices and eliminate sudden rate increases and late fees that have entangled millions of American consumers.
  • Report: Loan Servicer Safe Harbor Will Foster Shoddy Loan Mods
    Published Wed, Apr 29 2009 3:09 PM by www.thetruthaboutmortgage.com
    Legislation aimed at providing a so-called “safe harbor” for loan servicers will actually lead to more abuse and shoddy loan modifications, according to a report from Amherst Securities Group. The bill is intended to give loan servicers, including big...
  • FHA Commissioner Nomination Held Up by Lawsuit
    Published Wed, Apr 29 2009 3:09 PM by www.thetruthaboutmortgage.com
    More shenanigans at the FHA. The nomination of FHA commissioner David H. Stevens was held up yesterday thanks to a lawsuit involving his current employer Long & Foster. The Washington D.C.-based real estate brokerage where Stevens has been president...
  • Stress Test: Tangible Common Equity, 3/31/09
    Published Wed, Apr 29 2009 11:38 AM by feedproxy.google.com
    Ahead of official announcements regarding , OA thought we’d publish our latest update for banks’ tangible common equity, a metric that is likely to figure prominently. A recent Reuters said “U.S. regulators want the top 19 banks being stress-tested to...
  • Manufacturing profits plunge with no rebound in sight
    Published Wed, Apr 29 2009 11:37 AM by Reuters
    BOSTON (Reuters) - Diversified U.S. manufacturers Textron Inc and Rockwell Automation Inc slashed their 2009 profit targets, saying they saw no sign of the global recession ending any time soon.
  • A hundred days of hyperactivity
    Published Wed, Apr 29 2009 11:36 AM by www.economist.com
    Buoyant polls and a defecting senator keep Barack Obama in a strong position AFTER 100 days in office, Barack Obama is still enjoying a hectic honeymoon. Despite occasional foul-ups, fully 70% of Americans like him as a person. He scores less well as...
  • Congress Set to Pass Budget Endorsing Obama's Agenda
    Published Wed, Apr 29 2009 11:36 AM by CNBC
    Congress is set to give President Obama a gift for his 100th day in office: passage of a budget plan that endorses much of his ambitious agenda.
  • Retail Stocks: Rebound in consumer spending cheers retail stocks
    Published Wed, Apr 29 2009 11:36 AM by www.marketwatch.com
    Retail stocks headed higher Wednesday as Commerce Department data showed a rebound in consumer spending while the U.S. economy contracted again in the first quarter. Jones Apparel Group Inc. shares jumped after the company’s profit excluding items exceeded...
  • TBAC Meeting Minutes
    Published Wed, Apr 29 2009 10:02 AM by US Treasury
    April 29, 2009 TG-112 Minutes of the Meeting of the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association April 28, 2009 The Committee convened in closed session at the Hay-Adams Hotel at 10:30 a.m. All Committee...
  • Treasurys rise after GDP report
    Published Wed, Apr 29 2009 9:15 AM by rss.cnn.com
    Treasurys rose Wednesday morning after the government said the nation's economy suffered a bigger-than-expected drop in the first quarter.
  • Before the Bell: GDP data, Time Warner, Qwest in focus
    Published Wed, Apr 29 2009 8:59 AM by www.marketwatch.com
    U.S. stock futures pointed higher Wednesday, though they pared gains after the latest figures showed a sharper-than-expected contraction in the U.S. economy in the first quarter.
  • 3 Former Officials at Mortgage Firm Charged With Fraud
    Published Wed, Apr 29 2009 8:59 AM by feeds.washingtonpost.com
    The Securities and Exchange Commission yesterday charged former top executives at one of the big beneficiaries of the housing boom, American Home Mortgage Investment Corp., with accounting fraud and making false disclosures at the start of the mortgage...
  • WSJ/NBC Poll: Obama Not Tough Enough on Banks
    Published Wed, Apr 29 2009 7:45 AM by Wall Street Journal
    President Barack Obama ’s biggest flaw so far is not cracking down hard enough on Wall Street, the latest shows. While Mr. Obama got overall positive ratings for his job performance from almost seven in 10 of those surveyed, 36% said their most negative...
  • Advance Gross Domestic Product by Industry, 2008
    Published Tue, Apr 28 2009 2:55 PM by www.bea.gov
    Downturns in manufacturing, retail trade, and finance and insurance industries were the leading contributors to the slowdown in U.S. economic growth in 2008, according to preliminary statistics on the breakout of real gross domestic product (GDP) by industry...
  • Quick Take: Monetary Exit Strategy
    Published Tue, Apr 28 2009 2:55 PM by feedproxy.google.com
    Inflation is nowhere in sight, but could easily pop up in a year or two.
  • Senate approves $490 mln to fight mortgage scams
    Published Tue, Apr 28 2009 2:23 PM by www.marketwatch.com
    The Senate voted Tuesday to give federal investigators more tools and $490 million to combat mortgage fraud and other scams.
  • Wilbur Ross' $1B Bank Bet
    Published Tue, Apr 28 2009 2:16 PM by www.businessweek.com
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