This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. The Wall Street Journal’s editorial staff (WSJ) criticizes the Dodd-Frank Act and the leadership of the financial regulatory agencies. I share many of those criticisms, but I parted company when the WSJ expressed its horror that: “The…
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JPMorgan Invests in Its Own Junius Real Estate Fund, WSJ Reports – Bloomberg
by Newswires • • 0 Comments
JPMorgan Invests in Its Own Junius Real Estate Fund, WSJ ReportsBloombergJPMorgan Chase & Co. invested as much as $110 million as initial capital in its … Chief Executive Officer Jamie Dimon, who testified about the losses before …and more …
Housing, Must Read
Housing Recovery Driven By Shortage of Supply in Good Locations
by Newswires • • 0 Comments
During the housing boom, developers—the companies that pave roads and sidewalks, dig ditches for sewage pipes and power lines and bring in bulldozers to clear space for construction—prepared hundreds of thousands of lots and sold them to home builders, which in turn built subdivisions. Today many of these lots remain empty. They often are in…
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HARP Allows Banks To Screw Borrowers Again
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A government program that helps struggling homeowners take advantage of low interest rates to cut monthly mortgage payments is providing an unexpected revenue boost to large banks such as Wells Fargo and J.P. Morgan Chase. Banks that collect those payments, known as mortgage servicers, could get as much as $12 billion in revenue this year…
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Consumer Sentiment Stinks – WSJ
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The Thomson Reuters/University of Michigan consumer sentiment index fell sharply to 74.1 in early June from its final-May reading of 79.3 and an early-May reading of 77.8, according to an economist who has seen the report. The end-May index was the highest sentiment level since October 2007. The drop in early June may reflect consumers…
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Easing Inflation Pressures Suggests Fed Might Ease But Wonks In The Basement Say No!
by Newswires • • 0 Comments
Consumer prices are stabilizing… Recently, oil prices have tumbled and core inflation — which excludes volatile food and energy prices — has flattened out, with prices settling about 2.3% higher than a year ago. Easing price pressure should give some comfort to Federal Reserve officials before next week’s policy meeting. via Vital Signs: Easing Inflation…
Latest Business Headlines, Must Read
Cost to Raise a Child: Around $300,000, Not Including College – Say Goodnight, Gracie
by Newswires • • 0 Comments
The U.S. Department of Agriculture prepares an annual report about families’ expenditures on children for use in developing state child-support and foster-care guidelines. Annual child-rearing expense estimates ranged between $12,290 and $14,320 for a child in a two-child, married-couple family in the middle-income group, which is defined as a before-tax income between $59,410 and $102,870.…
Editorial, Must Read
ZIRP Bernankecide compounds problem of Baby Boomers losing inheritance, going broke supporting destitute parents- Video
by Lee Adler • • 1 Comment
For a 61 year old contributing to the support of a mother with Alzheimers, whose savings have been wiped out earlier than expected by ZIRP Bernankecide, the piece below from the WSJ hit home. What the article does not mention, not once, is the role that ZIRP Bernakecide plays in this unfolding catastrophe. The WSJ…
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Video – Foreign Buyers Binge on U.S. Homes – Video- WSJ.com
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To many Americans, plowing money into real estate has never looked like such a risky venture. But to many foreigners, U.S. housing has never looked like a smarter investment. Nick Timiraos has details on The News Hub. Photo: Bloomberg. via Video – Foreign Buyers Binge on U.S. Homes – WSJ.com.
Latest Business Headlines
Bankster Bosses Complain of Tension With Fed Over Pay – Hey Banksters, Eff You!
by Newswires • • 1 Comment
A group of U.S. bankers has told top Federal Reserve officials that regulators’ focus on restraining bankers’ pay is creating “unnecessary tension.” At a meeting last month with Fed Chairman Ben Bernanke and other top officials, executives said the Fed’s goals for bankers’ incentive compensation are a source of friction with regulators… … members, including…
