By Richard Rahn
Imprecise tax laws leave room for agency abuse and corruption
Independent voices from the TWT Communities
The prospect of ongoing stimulus from the Federal Reserve and rising optimism among small-business owners helped push stocks back to record levels.
Thieves wielding a stolen backhoe and a pick-up truck tried early Monday to swipe an ATM from a Potomac bank, according to Montgomery County police.
Bank of America led a rally in big-bank stocks Monday in a mostly quiet trading day. Stock indexes were little changed following a record-setting week.
Falling energy prices and disappointing earnings reports pushed stock prices sharply lower Wednesday on Wall Street.
Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008. The announcement came as the nation's second-biggest bank reported higher net income for the first quarter but missed analysts' expectations.
Despite receiving billions of dollars through a federal bailout, mortgage giant Freddie Mac continues to ignore its customers when they lodge serious complaint about fraud or rule-breaking, leaving taxpayers potentially exposed to new threats, investigators warn.
The Democratic National Committee has no plans to repay Duke Energy for an unprecedented $10 million line of credit it guaranteed to help the Democratic convention's local host committee put on President Obama's three-day nominating convention in Charlotte, N.C., last September.
Five months after President Obama's made-for-media convention in Charlotte, N.C., the host committee for the three-day Democratic bash still has not paid off an unprecedented $10 million loan secured by Duke Energy, and there is no way of knowing whether it will ever be paid back.
Mayor Rahm Emanuel is taking his gun control push to private banks and asking two major lenders in Chicago to stop doing business with firearms manufacturers.
Stocks advanced Thursday morning, pushing the Standard and Poor's 500 to another five-year high, after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy.
Consumer advocates have complained that the nation's mortgage lenders are getting off easy in a deal to settle charges that they wrongfully foreclosed on many homeowners after the collapse of the housing bubble.
Mitt Romney decried the Dodd-Frank Act as "the biggest kiss that's been given to New York banks I've ever seen." Since its passage, 122 community banks have closed. If the election had turned out differently, there would have been a prospect of repealing Dodd-Frank. There still may be grounds for a modicum of reform, particularly of "too big to fail" (TBTF) banks and doctrine.
On Nov. 6, Americans chose President Obama over GOP presidential candidate Mitt Romney. If Mr. Obama's second term turns out to be anything like his first, the voters will quickly come to regret that decision.
Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.