When Double Dippers become economic party poopers

They’re a minority, but a vocal one, and they’re hovering like storm clouds over a brittle recovery. They’re the Double Dippers — the politicians, economists and analysts who foresee back-to-back… Read more

Bernanke recouped personal losses in 2009 (Reuters)

Reuters – Federal Reserve Chairman Ben Bernanke’s personal finances recovered in 2009, disclosure forms released by the central bank on Friday… Read more

Cuomo widens insurer probe with 6 more subpoenas (Reuters)

Reuters – New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the… Read more

Reverse Mortgages Aren’t Catching On (U.S. News & World Report)

U.S. News & World Report – The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government’s insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have… Read more

Fannie Mae portfolio grows, delinquencies decline (Reuters)

Reuters – Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on… Read more

Slowing economy faces major hurdles

As the engine of U.S. economic growth slows, two of its main cylinders – job growth and consumer spending – still aren’t firing. Until they kick in, the  weak recovery is in… Read more

Recovery lost speed in the second quarter

The recovery lost momentum in the spring as growth slowed to a 2.4 percent pace, its most sluggish showing in nearly a year and too weak to drive down… Read more

U.S. consumers feel more downtrodden in July

U.S. consumer sentiment plunged in July to its lowest level in 9 months on bleak prospects for jobs and income a year since the economic recovery began, a private survey… Read more

Wall Street recovers from early sell-off

Stocks recovered from a 100-point drop and pushed into positive territory Friday despite new data that show the economy grew at a slower pace than expected during the second… Read more

BP CEO: I’m a ‘villain for doing the right thing’

Tony Hayward, who resigned as chief executive of BP in the wake of the Gulf oil spill, has said that he was turned into “a villain for doing the right… Read more

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