The U.S. Recovery Has Been Spectacular*

We need a real recovery. That's what Mitt Romney said during the campaign, and he was right. Five years since the start of the Great Recession, unemployment is still far too high. It's not for a lack of optimism among policymakers. As Evan Soltas pointed out, the Federal Reserve keeps predicting that prosperity is just around the corner, only to find it's not. Catchup growth is the new Godot. FULL STORY *Compared to almost every other rich country and almost every other financial crisis.

US homes lost to foreclosure up 25 pct on year

Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis...

European stocks, euro rally on bank reform

European stock markets and the euro rallied on Monday after central bankers and regulators agreed new rules to strengthen banks' reserves to help avert...

Gov't launches plan to help "underwater" borrowers

The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners....

Wells Fargo Ends Free Checking Before New Bank Rules

Wells Fargo & Co., the U.S. bank with the largest branch network, eliminated free checking accounts...

Financial Overhaul Wins Final Approval in House

The House on Wednesday adopted legislation to revamp the nation’s financial regulatory system..

FDIC Looks to Fee Prepayments to Replenish Coffers

The FDIC moved to raise $45 billion to replenish its insurance fund by having U.S. banks prepay premiums for three years..

Source: www.wsj.com

Little Change on Wall St.

A Year Later, Little Change on Wall St.

Jackpot? Wells Fargo to Return $25 Billion

Wells Fargo Bank of San Francisco, which received funds through a government bailout program said that it intends to return $25 billion back to the U.S. government...

Union gets 17.5% stake in GM

But US bondholder talks fail to reach agreement