Political Economy: January 2, 2011 - January 8, 2011
Investment outlook 2011: Where will you put your money?
The Washington Post checked in with managers of three of the best-performing stock funds from 2010 to learn more about their investing strategies for the new year, what sectors they've got an eye on, and whether they have a positive...
By
Sarah Halzack
| January 7, 2011; 2:58 PM ET |
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Mass. court ruling has potential to void thousands of foreclosures
The Massachusetts Supreme Court on Friday upheld a lower court ruling voiding two foreclosures because the banks failed to show the proper paperwork to prove they owned the loans-a decision that challenges the way mortgages were bundled and sold around the world. Shares of Wells Fargo and U.S. Bancorp--the banks involved in the case--as well as those of other banks fell following the announcement of the decision. Wells Fargo was down 3.4 percent and US Bancorp 1.1 percent at midday. The closely-watched decision involves two foreclosures: that of Antonio Ibanez and Mark and Tammy LaRace and whether U.S. Bancorp and Wells Fargo, respectively, had proper legal standing to take back the homes after the borrowers missed their payments.
By
Ariana Eunjung Cha
| January 7, 2011; 12:26 PM ET |
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Categories:
Housing
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Jobless rate drops to 9.4 percent
U.S. employers added 113,000 private-sector jobs in December, the Labor Department reported Friday, fewer than analysts expected. But the unemployment rate dropped from 9.8 to 9.4 percent--the lowest level since May, 2009. Economists had expected the report to show significantly...
By
Debbi Wilgoren and Neil Irwin
| January 7, 2011; 8:50 AM ET |
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Categories:
Budget and fiscal policy, U.S. Labor Department, Unemployment
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Five things to watch in today's jobs report
There has been a string of promising economic data in recent weeks, offering hope that the labor market was finally picking up as 2010 ended. This morning's jobs report will offer the most important evidence yet of whether that rising optimism is justified.
By
Neil Irwin
| January 7, 2011; 7:00 AM ET |
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Categories:
U.S. Economy, U.S. Labor Department, Unemployment
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Economic agenda: Friday, Jan. 7, 2011
At 8:30 a.m. -- The Labor Department is scheduled to release unemployment data for September December. At 9:30 a.m. -- Federal Reserve Chairman Ben S. Bernanke testifies before the Senate Banking Committee on the state of the U.S. economy. At...
By
Mike Shepard
| January 7, 2011; 6:30 AM ET |
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Categories:
*Economic agenda
| Tags:
Bernanke, September unemployment, Sperling
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U.S. will reach debt ceiling at end of March, Geithner warns Congress
treasury secretary timothy geithner warned republican lawmakers on thursday that the government will reach the legal limit on government borrowing as early as march 31,
By
Lori Montgomery
| January 6, 2011; 10:11 AM ET |
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Categories:
Congress, U.S. Economy, U.S. Treasury
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Economic agenda: Thursday, Jan. 6, 2011
At 8:30 a.m. -- The Labor Department releases data on weekly claims for unemployment benefits. In the morning, no set time -- Major retailers are scheduled to release sales results from December, including the critical holiday shopping season. At 2...
By
Mike Shepard
| January 6, 2011; 6:30 AM ET |
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Categories:
*Economic agenda
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Economic agenda: Wednesday, Jan. 5, 2011
At 8:15 a.m. -- Payroll company ADP issues its monthly report on the jobs market, offering a preview of Friday's official unemployment numbers from the federal government. At 10 a.m. -- The Institute for Supply Management releases its monthly index...
By
Mike Shepard
| January 5, 2011; 6:30 AM ET |
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Categories:
*Economic agenda
| Tags:
ADP, Yang Jiechi
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Bank of America braces for WikiLeaks
Bank of America does not know for sure that it will be the target of the next data dump from Internet provocateur WikiLeaks. But, in the wake of the site's recent release of State Department cables that embarrassed a number of political leaders, the bank is launching a damage control effort just in case.
By
Sarah Halzack
| January 3, 2011; 10:30 AM ET |
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Categories:
Corporations
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