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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)
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]
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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.
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]
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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]
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]
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]
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]
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] |
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