Monday, 11 Oct 2010 | 5:19 PM ET

Yes, You Should Be Very Worried About the C-4 Found in A Second Street Cemetery

Posted By: John Carney

Do not believe the reassurances you might hear about the explosives found in an East Village cemetery.

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  Monday, 11 Oct 2010 | 4:47 PM ET

Now Goldman Sachs Is Freezing Foreclosures

Posted By: John Carney

One by one, the foreclosure mills are grinding to a halt.

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  Monday, 11 Oct 2010 | 4:45 PM ET

The Foreclosure Crisis and SarbOx

Posted By: John Carney

The news that a single loan officer working for Ally’s GMAC mortgage unit processed tens of thousands of foreclosure documents, many apparently falsified, each month for five years should have executives and auditors at all the large mortgage servicers quaking.

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  Monday, 11 Oct 2010 | 4:35 PM ET

The Hitler Bunker Parody Version of Foreclosure Gate

Posted By: John Carney

You knew this had to come out.

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  Monday, 11 Oct 2010 | 3:28 PM ET

The Politics of Foreclosure

Posted By: Ash Bennington

On Friday afternoon, I wrote about how IRON, The Interstate Recognition of Notarizations Act, went from its beginnings as a dull bipartisan bill, which unanimously passed the House and Senate, to a political hot potato.

The Secretary of State for the state of Ohio, Jennifer Brunner, was an early critic of the bill. David Streitfeld and Gretchen Morgenson reported in the New York Times that Brunner "suggested in a telephone interview on Tuesday that a bill passed by Congress last week about notarizations could facilitate foreclosure fraud."

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  Monday, 11 Oct 2010 | 2:48 PM ET

A Primer On The Foreclosure Crisis

Posted By: John Carney

Last week, Bank of America announced that it was halting foreclosures in all fifty-states while it reviewed its foreclosure process for defects. Now several lawmakers on Capitol Hill are calling for other banks to initiate nationwide foreclosure freezes—a move which the Obama administration is currently opposing.

Photo: Jeff Turner

So what’s going on here? Why is the foreclosure machinery of our nation’s largest banks suddenly grinding to a halt? What does this mean for the financial sector and the economy?

Let’s start with the most basic questions first. Then I’ll explain some of the possible implications for homeowners, banks, and the economy.

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  Monday, 11 Oct 2010 | 1:00 PM ET

Horray! Bonus Season Is Back And Bigger Than Ever (Maybe)

Posted By: Cadie Thompson

Well, it's almost bonus season on Wall Street, but some financial professionals are more hopeful about their payout than others.

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  Monday, 11 Oct 2010 | 10:53 AM ET

Companies Get Leaner — Labor Market Gets Meaner

Posted By: Ash Bennington

What exactly is going on in the U.S. job market? The AP recently ran an interesting story on the trials and tribulations of those looking for work in the current economic environment:


"They're [job seekers] running into a trend that took root during the recession. Companies became more productive by doing more with fewer workers."

"Some asked staffers to take on a broader array of duties — duties that used to be spread among multiple jobs."

"Now, someone who hopes to get those jobs must meet the new requirements. As a result, some database administrators now have to manage network security."

So the constant pressure on managers to "do more with less" seems to be translating into actual shifts in hiring policies and practices. And that not only has a negative effect on those seeking jobs, but also on companies that are finding it more difficult to fill the open jobs they already have. The article continues:

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  Monday, 11 Oct 2010 | 10:06 AM ET

Obama Says No To National Foreclosure Freeze

Posted By: John Carney

Despite the growing chorus of Democratic lawmakers calling for a nationwide moratorium on foreclosures, the Obama administration is opposed to a freeze.

US President Barack Obama
Saul Loeb | AFP | Getty Images
US President Barack Obama

David Axelrod, Obama's top adviser, went on CBS’s “Face the Nation” program on Sunday and announced the administration's positions. Basically following the same line as the Wall Street Journal editorial page — that the foreclosure crisis is just some meaningless paperwork screw-up — Axelrod emphasized the need to provide certainty to the housing market and to get the foreclosure mills up and running again "very, very quickly."

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  Monday, 11 Oct 2010 | 8:47 AM ET

Sorry Martti, Maybe Next Year

Posted By: Nicole Lapin

Nobel Peace Prize laureate and United Nations diplomat Martti Ahtisaari was hoping that this year’s Nobel Peace Prize winner would be a woman, maybe even his friend Mary Robinson, the former Irish president.

Nobel Peace Prize
Nobel Peace Prize

“But all of them are extremely well qualified,” Ahtisaari said of his long list of friends who could be in the running for the prize. When the results were announced Friday morning, it was Liu Xiaobo, China’s leading democracy advocate, who received the honor.

I got the chance to speak exclusively with him in Washington D.C. where he told me he didn't even know he was going to win the honor. He was awarded a Nobel Peace Prize in 2008 \(between Gore and Obama\) for his efforts on several continents to resolve international conflicts. In Kosovo, he helped to resolve a long-running dispute that ended a three-decade conflict in which 15,000 people died.

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