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  • Fri, Aug 24 2012
  • 2:21 PM » Bank of America to Donate 1,000 Properties for Injured Veterans, First Responders
    Published Fri, Aug 24 2012 2:21 PM by Bank of America
    CALABASAS, Calif.--(BUSINESS WIRE)--Aug. 24, 2012-- Bank of America today announced a three-year commitment to make available up to 1,000 properties to nonprofit organizations and local government programs that provide homes for injured military veterans and first responders. "This is an important expansion of our property donation and community revitalization initiatives and improves the inventory of homes these organizations focused on assisting our veterans and first responders need," said D. Steve Boland, national mortgage outreach executive for Bank of America. "We understand our responsibility to help neighborho...
    Click Here to Read the Full Article

    Source: Bank of America
  • 2:21 PM » Dodd-Frank is aimed at Wall Street. So why is it hurting the construction industry?
    Published Fri, Aug 24 2012 2:21 PM by House Financial Services
    More evidence of the unintended consequences of the Dodd-Frank Act: "With passage of the Dodd-Frank law, the banking and financial services industries face uncertainty that has locked credit markets and access to capital. Many companies have viable, low-risk projects or contracts that simply need funding in order to begin work. However, overregulation in the banking sector has made qualified businesses with a great borrowing track record a risk banks aren't willing to take. "For the construction industry, unjustified regulations and unnecessary bureaucratic red tape translate to increased costs, which, if a project does get off the ground, are inevitably passed to the consumer and ultimately impact their ability to hire and expand." The following column appeared in the Aug. 24, 2012 edition of the Montgomery Advertiser : Taxes, regulations hurting businesses by Rep. Robert Aderholt and Jay Reed There is little question that our nation's economy continues to struggle. The question remains, why? Unemployment has been above 8 percent for 41 consecutive months, the longest stretch of high unemployment since the Great Depression. Since 2009, this administration has heaped on more bureaucratic red tape, more burdensome regulations, more complex and overreaching laws and provided more uncertainty regarding the tax code. Together these factors have created a perfect storm. A storm that's drowning job creators and keeping them from hiring at a time when we need jobs more than ever before. This economic downtown has hurt nearly every sector and industry doing business in the United States. However, few industries have felt the effects and few industries want to provide sustainable, well-paying jobs for American workers more than the trade construction contractors that build the American economy one job at a time. Today's economic storm continues to rain down on job creators. While these small businesses are eager to help America's economy grow...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 2:17 PM » Fed Has 'Scope' for More Stimulus: Bernanke
    Published Fri, Aug 24 2012 2:17 PM by CNBC
    Fed Has 'Scope' for More Stimulus: Bernanke<br/>
  • 1:10 PM » Bernanke says Fed has scope to provide more stimulus
    Published Fri, Aug 24 2012 1:10 PM by Reuters
    WASHINGTON (Reuters) - The Federal Reserve has room to deliver additional monetary stimulus to boost the U.S. economy, Fed Chairman Ben Bernanke told a Congressional oversight panel in a letter.
  • 11:22 AM » DeMarco Half Right on Short Sales
    Published Fri, Aug 24 2012 11:22 AM by Google News
    Edward DeMarco, the beleaguered chief of the Federal Housing Finance Agency, announced this week that Fannie Mae and Freddie Mac will take steps to accelerate...
  • 11:20 AM » Fannie Mae's Still No Ginnie After Bailout Fix
    Published Fri, Aug 24 2012 11:20 AM by Business Week
    Fannie Mae's Still No Ginnie After Bailout Fix: Credit Markets Businessweek Fannie Mae's Still No Ginnie After Bailout Fix. Deere's offering will be tied to agricultural- and construction-equipment loans, the Moline, Illinois-based company said today in a regulatory filing. Bank of America Corp. and Citigroup Inc. are managing the deal. and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 11:19 AM » New European banking oversight plan due in Sept
    Published Fri, Aug 24 2012 11:19 AM by Business Week
    New European banking oversight plan due in Sept Businessweek BRUSSELS (AP) - A European Union spokesman says proposals for EU-wide banking supervision are likely to be made around Sept. 11. The proposal for unified supervision of banks within the European Union is viewed by some as a key step toward ...
    Click Here to Read the Full Article

    Source: Business Week
  • 8:48 AM » Freddie Mac Issues Monthly Volume Summary For July 2012
    Published Fri, Aug 24 2012 8:48 AM by Freddie Mac
    MCLEAN, Va., Aug. 24, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today issued the company's Monthly Volume Summary for July 2012. The summary, available on the company's Web site at www.FreddieMac....
  • 8:44 AM » ‘A Lot of Reason' for More Easing, Says Fed's Evans
    Published Fri, Aug 24 2012 8:44 AM by CNBC
    As optimism over additional stimulus from the U.S. central bank faded overnight, Chicago Fed President Charles Evans reiterated calls for further easing on CNBC Friday, arguing that there's "a lot of reason to do more."
  • 8:40 AM » Merkel: Germany wants Greece to remain in euro
    Published Fri, Aug 24 2012 8:40 AM by Market Watch
    FRANKFURT (MarketWatch) -- German Chancellor Angela Merkel on Friday said she wants Greece to remain in the euro zone, but repeated that she wants to see a report from the country's troika of international lenders next month before European leaders decide whether to give Greece more time to implement austerity measures and reforms in return for its bailout. Merkel, in a joint news conference with Greek Prime Minister Antonis Samaras after a meeting in Berlin, said she was convinced Samaras's new government is committed to solving Greece's woes. Samaras repeated that Greece isn't seeking more money but needs "breathing space" to implement measures while aiming to restore growth to the recession-wracked country.
  • 8:40 AM » Treasuries Extend Gains as ECB Said to Wait on Bond Purchases
    Published Fri, Aug 24 2012 8:40 AM by Bloomberg
    Treasuries Extend Gains as ECB Said to Wait on Bond Purchases Bloomberg Treasuries extended gains after the European Central Bank was said to wait until a Germany court rules on the legality of Europe's permanent bailout fund before unveiling full details of a plan to buy government bonds. To contact the editor responsible for this ...
  • 8:31 AM » Republicans Eye U.S. Return to Gold Standard
    Published Fri, Aug 24 2012 8:31 AM by CNBC
    Next week, Republicans will consider looking at returning the U.S. dollar to the gold standard, Rep. Marsha Blackburn told CNBC on Thursday.
  • 8:30 AM » Finland and the Last Taboo of the Euro Zone
    Published Fri, Aug 24 2012 8:30 AM by CNBC
    Finland has become the unlikely creator of a European storm after foreign minister Erkki Tuomioja confirmed that the country was preparing for a break-up of the euro zone.
  • 8:30 AM » US Futures Flat on Fed Uncertainty
    Published Fri, Aug 24 2012 8:30 AM by CNBC
    U.S. stock index futures are called to open broadly flat as speculation over whether the Federal Reserve will introduce further stimulus measures continues to divide opinion and markets a week ahead of a meeting of the world's top central bank officials in Jackson Hole, Wyoming.
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