Tag: Economy
WNYC News
N.C. Regulator Tapped To Handle $25B Mortgage Deal
Saturday, February 11, 2012
A banking regulator from North Carolina has been chosen to oversee the multi-billion dollar national mortgage settlement announced earlier this week. Joseph Smith Jr. has spent nearly a decade as North Carolina's commissioner of banks and he is described as a man who understands the plight of the homeowner without forgetting what makes a successful banking industry work.
Oklahoma Opts Out Of Foreclosure Deal
Saturday, February 11, 2012
Robo-signing and dual tracking wrongfully foreclosed on homes all across the country. Almost every state will accept the $26 billion federal settlement — all except Oklahoma. Weekends on All Things Considered host Guy Raz speaks with Oklahoma Attorney General Scott Pruitt about why he chose to opt his state out of the federal foreclosure abuse settlement.
Hard Times Familiar in Okfuskee County, Okla.
Saturday, February 11, 2012
Okfuskee County in Oklahoma is the birthplace of Woody Guthrie, who would have turned 100 this year. Much of the economic problems Guthrie sang about were from what he saw in the county, which was once the largest all-black community in the country. Guthrie's music still resonates there, especially in the town of Boley, where hope is hard to come by. Logan Layden of State Impact Oklahoma reports.
Mild Weather Warming Local Budgets
Saturday, February 11, 2012
Most of the country is having a mild winter, and that's having a positive impact on cities and towns. Local governments report being able to continue roadwork uninterrupted, and cities that are usually cleaning up after winter storms are saving tens of thousands of dollars.
How Will Banks Divide $25 Billion Settlement?
Friday, February 10, 2012
Audie Cornish talks to Chris Arnold about how money from the robo-signing agreement will be spent. The settlement — worth about $25 billion — will bring a huge increase in loan modifications and provide small checks to people who lost their homes to foreclosure.
Angel Investors And Startups Mingle In Milwaukee
Friday, February 10, 2012
In this post-recession era, angel investor groups have stepped in to finance startup companies that banks and venture capitalists deem too risky. Twenty of those groups are in Wisconsin, including one that meets at a Milwaukee social club where local money is finding its way to local startups.
Deal With Banks Isn't Only Way For Homeowners To Get Help, HUD Chief Says
Friday, February 10, 2012
There's been some skepticism about how much help the $25 billion package will give hard-hit homeowners. HUD Secretary Shaun Donovan says there are other remedies for those who were devastated.
Stocks Take Dive, As Greek Bailout Deal Remains Uncertain
Friday, February 10, 2012
Four Greek Cabinet ministers have resigned in opposition to austerity measures. The uncertainty has driven down the euro and led to fiery protests on the streets of Athens.
Obama To Release Fiscal 2013 Budget Next Week
Friday, February 10, 2012
President Obama will unveil his budget for the next fiscal year on Monday. To find out more about the budget proposal, Steve Inskeep talks to David Wessel, economics editor at The Wall Street Journal.
Advocates Not Impressed With Foreclosure Settlement
Friday, February 10, 2012
President Obama is touting Thursday's mortgage foreclosure settlement with big banks. Nearly two million people could benefit from the landmark settlement between states and big mortgage companies. But many homeowners and former homeowners are not too excited about the deal.
Greece Waits For Bailout After Meeting EU Conditions
Friday, February 10, 2012
Greek politicians on Thursday agreed on massive cuts to bring their budgets in line with what the European Union has demanded. It's the latest act in a months-long drama to bring down the Greek debt load.
Bank Settlement Could Spur More Foreclosures
Friday, February 10, 2012
The multi-billion dollar bank mortgage settlement could have some unanticipated consequences for borrowers in trouble. There will likely be an initial surge of foreclosures. Banks, freed from uncertainty over the investigation, will probably pick up the pace of home seizures. But the foreclosure rate will probably fall over the longer term as banks ease the burden on borrowers through principal reductions.
A Comparison Of Candidates' Tax Plans
Thursday, February 09, 2012
From a flat tax to a "millionaires' tax," presidential candidates have put forth a variety of ideas for better steering the economy through changes to tax policies.
The Mortgage Deal: A Reality Check
Thursday, February 09, 2012
The $26 billion settlement reached by the federal government, most states and the nation's largest banks to compensate homeowners for abusive foreclosure practices is unlikely to end the housing crisis, analysts say. It could also lead to a new round of foreclosures, which would drive prices even lower.
PepsiCo Says It Will Cut 8,700 Jobs Worldwide
Thursday, February 09, 2012
The announcement comes as the company announced a fourth-quarter income of $1.4 billion.
Foreclosure Deal To Help Underwater Homeowners
Thursday, February 09, 2012
Government officials have worked out a deal with the nation's five big banks to settle state and federal investigations of alleged foreclosure abuses. Banks would have to pay $5 billion in cash and another $20 billion in loan modifications under the terms of the deal.
Birthplace Of 'Robo-Signing' Eyes Deal Critically
Thursday, February 09, 2012
On Thursday, the federal government reached a $26 billion deal with the nation's largest banks to compensate homeowners. In Florida, where a lawyer uncovered and named the rushed mortgage-approval process, some lawyers and homeowners say technical issues and trust battles remain for courts and the banks.
Study: Young People Hardest Hit By Poor Job Market
Thursday, February 09, 2012
Audie Cornish speaks with Kim Parker, Associate Director with Pew Social & Demographic Trends and lead study author about the new Pew report on record high youth unemployment statistics. The study found that negative trends in the labor market have hit 18-34-year-olds the hardest.
The GOP Elixir: Candidates Campaign On Tax Cuts
Thursday, February 09, 2012
All four of the remaining Republican presidential candidates have proposed cutting business and personal income taxes — the only difference is by how much.
Foreclosure Deal May Mean More Foreclosures This Year
Thursday, February 09, 2012
Foreclosures slowed as big banks waited for the details of the settlement to become clear. Now, they're likely to pick up the pace.