After a five-year hiatus, Phyllis Rockower is back buying up houses on the cheap, then fixing and flipping them. "I love ugly houses," she says. "They make money."
Industry regulators have fined Goldman Sachs $650,000 for failing to disclose that two of its brokers, including the executive accused of leading the mortgage securities deal that brought civil fraud charges against the firm, were under investigation by the government.
Beyond Mr Obama’s signal that the administration was seeking to press the “reset” button with business, there were other reasons why corporate America had reason to cheer the election of a new Republican majority in the House of Representatives.
Longtime central bank critic Rep. Ron Paul, (R-Texas), told CNBC Monday that the Federal Reserve's attempt to stimulate the economy with more liquidity will hurt the dollar and spark inflation.
When interest rates soared last week on Irish government bonds, it served as a warning to other indebted nations of how difficult it could be to roll back decades of public sector largess. The New York Times reports.
Some of the biggest trade finance providers, led by HSBC and Standard Chartered, are lobbying to have tough capital rules toned down, warning that if they are not, world trade could be severely hampered. The Financial Times reports.
The most interesting divide in Washington this week is not between Republicans and the Democrats, it’s the yawning gap between "stimulators" at the Federal Reserve and "non-stimulators" in Congress.
Former President George Bush told NBC in an interview airing on Monday that he believes that TARPfunds used to bail out Wall Street banks in 2008 saved the economy and that he would “absolutely” do it again today, if presented with the same problem.
Bank of America on Thursday rebuffed claims by a lawyer for several big investors, including the Federal Reserve Bank of New York, that it should buy back troubled mortgages because the loans were made improperly, the New York Times reports.
The Federal Reserve may soon allow healthy banks to increase dividend payments to stockholders, according to a report from the Wall Street Journal Thursday.
The midterm results represented a “repudiation” of the agenda of President Obama and the Democrats, not necessarily a “validation” or Republicans, Rep. Paul Ryan (R-Wisc.), told CNBC Wednesday.
Housing will be the main financial issue for the newly configured Congress, Camden Fine, president CEO of the Independent Community Bankers of America, told CNBC Wednesday.
The London Stock Exchange was scrambling to establish how a human error in possibly “suspicious circumstances” had knocked out one of its dealing platforms on Tuesday as the exchange conceded it would now have to delay switching over to a new trading system until next year, reports the Financial Times.
CNBC gives cutting-edge coverage of the 2010 midterm elections, with analysis that impacts people on both Wall Street and Main Street. Here is the latest analysis from reporters on the front lines.
"The debt is growing at twice the rate if GDP and we're going into a new Congress that'll be totally stalemated. It'll be rancorous, it'll be partisan and it'll be all oriented to the 2012 elections," David Stockman, former OMB director under President Reagan, told CNBC on Tuesday.
I’ve lived through many presidential and mid-term elections, and I don’t recall seeing this level of anguish, frustration, and outright anger from the American people. We’re in unchartered territory.
After you cast your ballot, stop for a moment and think about what your next investment move should be for post-election and 2011. Here are a few sector ideas to consider.
Rand Paul, Republican candidate for Senate from Kentucky and Tea Party leader, called for the automatic sunsetting of federal regulations, unless they are approved by Congress.
A healthy dose of balance and good old fashioned Washington debate might be just what is needed for investors.
Voters seem to believe that a split Congress and increased gridlock is the best way to achieve these ends, and I don't disagree.