BofA exec just doesn’t get it
Bank of America CEO Kenneth Lewis decided to take the company's $50 million jet to New York to answer questions about the bonuses paid out to Merrill Lynch big wigs. According to news reports, he...
View ArticleThe Stress Test Results Are In: Your Blood Pressure Is High
AP file photo: Yes, but can your bank survive this? The feds are expected to announce results of their stress tests of 19 giant banks, a few of which have a substantial presence at the Shore. Bank of...
View ArticleGet Me Re-Write
File photo of an energy efficient car, taken in 2005. I'm reading this AP story about Ford, Nissan and Tesla getting ready to receive loans from the federal government's $25 billion fund to develop...
View ArticleHomeowners Lost In Space
File photo: Is there a way out of this maze? It appears the government's strategy to convince investors to modify the mortgages of distressed home owners is to appeal to their conscience, their...
View ArticleDwek: The Canary In The Economic Coal Mine
File photo by James W. Prado Roberts: A home once part of Solomon Dwek's holdings. Solomon Dwek's triumphant return to the spotlight last week was another reminder of the economy's fall from grace....
View ArticleLocal Banks Show Economic Growth Still Miles Away
AP File photo: Paris Hilton celebrates the end of the recession. But it's probably a little too soon. This might be why I don't get invited to parties. Not to throw a wet blanket on the bull market and...
View ArticleSo if 1 in 3 home buyers is turned down for a loan, is that a bad thing?
This annual government report on home loans tells us pretty much what we would expect -- lenders have gotten tighter with their money. The mortgage denial rate was about 32 percent in 2008, about the...
View ArticleFed to banks: Ask before you take customers’ money
Press file photo: It's tough enough to stay afloat without being charged overdraft fees. The Federal Reserve is a lot of things: More powerful than a locomotive. Able to leap tall buildings in a single...
View ArticleMerry Christmas taxpayers! Here’s your money back!
Want to irritate a corporate executive? Call him to the White House for a lecture. (AP PHOTO) When you ask people what they think of all the corporate bailouts that the government launched with...
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