

By Richard W. Rahn
Budget fantasy won't help us cope with coming fiscal disaster
Independent voices from the TWT Communities

Investors shook off their worries about Greece on Monday and got back to their routine of little-by-little gains.

The Obama administration and 49 states announced on Thursday a record $25 billion mortgage settlement with the nation's five largest banks - the president's latest attempt to help homeowners and halt the still-sagging housing market's drag on the economy.

Federal officials say a deal has been reached between states and the nation's biggest mortgage lenders over foreclosure abuses.
California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a deal that would force the five largest mortgage lenders to reduce loans for about 1 million households.
The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday.

The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday.

Stocks are opening lower after earnings fell at JPMorgan Chase, the country's largest bank, and rumors swirled that more downgrades of European debt may be coming.
ABC News' new advertising slogan is "See the whole picture," and division President Ben Sherwood said Monday that reflects an effort to broaden his journalists' definition of what they do.
ABC News' new advertising slogan is "see the whole picture," and division President Ben Sherwood said Monday that reflects an effort to broaden his journalists' definition of what they do.

Stocks rose sharply Tuesday in the first trading of 2012 after investors returned from the holiday and found encouraging economic reports from the United States and around the world.

After a customer backlash, Verizon Wireless on Friday dropped a plan to start charging $2 for every payment subscribers make over the phone or online with their credit or debit cards.
After a customer backlash, Verizon Wireless on Friday dropped a plan to start charging $2 for every payment subscribers make over the phone or online with their credit or debit cards.
Security analysts are bracing for the release of millions of emails that computer hackers stole from a U.S. intelligence-analysis firm whose clients include federal agencies, large corporations and foreign countries.
The Federal Reserve on Tuesday moved to toughen capital requirements for the country's largest banks, saying their size and stretch could threaten the overall financial system.

Tajh Boyd threw three touchdown passes and ran for another as No. 21 Clemson routed No. 5 Virginia Tech 38-10 Saturday night to win its first Atlantic Coast Conference championship in 20 years.

By Ben Wolfgang - The Washington Times
If some Arizona lawmakers get their way, George Carlin’s “Seven Words” routine could be updated ...

By Stephen Dinan - The Washington Times
The FDA has won its two-year fight to shut down an Amish farmer who was ...

By Anthony McCartney - Associated Press
Whitney Houston was under water and apparently unconscious when she was pulled from a Beverly ...