A member of the Occupy Wall Street movement places tape over a window of a forclosed home during a recent march in the impoverished community of East New York. (Photo by Spencer Platt/Getty Images)

Pimco: $25 Billion Foreclosure Deal to Hit Pensions Harder Than Banks

The government’s foreclosure-abuse deal with banks is cheap for the loan servicers while costly for bond investors including pension funds, Pacific Investment Management Co.’s Scott Simon says. Five banks committed $20 billion in various forms of mortgage relief plus payments of $5 billion to state and federal governments. “This was a relatively cheap resolution for the banks,” said Simon. “Pension funds, 401(k)s and mutual funds are going to pick up a lot of the load.” [Full Story]

Jim Rogers: I Am Wary of Stocks Despite Recent Spike

Stocks may be up this year but investors should be wary, as a sound economy isn't pumping up share prices but rather Federal Reserve meddling is inflating the asset class, says international investor Jim Rogers.... [Full Story]

Gov't on Pace for $1T Deficit Despite January Dip

The federal deficit was lower through the first four months of the budget [Full Story]

S&P 500 Snaps Five-Week Advance Amid Concern About Greece Rescue

U.S. stocks fell, snapping a five- week-rally for the Standard Poor s 500 [Full Story]

Underwater? Some Banks Paying People to Leave Homes

The markets are abuzz with the news that the banks will ante up to help [Full Story]

Obama Mortgage Plan Seen Helping 'Small Number' of Homeowners

Millions of American homeowners were likely excited when they first learned [Full Story]

Jim Rogers: I Am Wary of Stocks Despite Roaring Markets

Stocks may be up this year but investors should be wary, as a sound economy [Full Story]

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Finance News

Banks Still on Hook Despite $25 Billion Mortgage Pact

U.S. lenders including Bank of America Corp. still face years of litigation and billions of dollars in liabilities tied to the housing collapse after agreeing to settle a probe of abusive foreclosure practices. [Full Story]

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Economy

Consumer Mood Turns Darker on Income Fears

Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a new survey shows. [Full Story]

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Companies

US Probes Toyota Camry, RAV4s for Door Fires

Toyota Motor Corp. Camry and RAV4 vehicles are under investigation by U.S. automobile-safety regulators after reports of electrical fires in driver-side doors. [Full Story]

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Markets

Former Exxon CEO: Weak US Oil Demand to Last Years

The United States may be living through 10 years of sluggish growth that does little to boost domestic oil demand in the short term, the former head of ExxonMobil says. [Full Story]

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Investing & Analysis

Entrepreneur Bob Davids to CEOs: 'Leave Ego at Door'

Chief executive officers need to leave their egos at the door because micromanaging only works against a company's progress, and not for it, says entrepreneur and business creator Bob Davids. [Full Story] |