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Political Economy: January 23, 2011 - January 29, 2011

Bank of America fights judge's order halting 8,900 Nevada foreclosures

Bank of America is aggressively maneuvering to get a Nevada county judge's order halting more than 8,900 foreclosures statewide by one of its subsidiaries overturned. In one of a growing number of foreclosure cases across the country in which judges are questioning whether notices and documents were improperly prepared, Nye County District Court Judge Robert Lane issued a preliminary injunction against BofA's ReconTrust, blocking it from proceeding with with non-judicial foreclosures until a Feb. 28 hearing.

By Ariana Eunjung Cha  | January 28, 2011; 2:51 PM ET  |  Permalink  |  Comments (7)
Categories:  Corporations, Housing  
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Elizabeth Warren considering Martha Coakley, other state AGs for consumer protection job?

Elizabeth Warren had discussions with four Democratic state attorneys general about the director's job for the new U.S. Consumer Financial Protection Bureau, according to Bloomberg. Among those who had meetings with Warren about the position are: Tom Miller of Iowa, Lisa Madigan of Illinois, Roy Cooper of North Carolina and Martha Coakley of Massachusetts.

By Ariana Eunjung Cha  | January 28, 2011; 12:54 PM ET  |  Permalink  |  Comments (0)
Categories:  Consumer Financial Protection Bureau  
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Egypt riots weigh on the nation's stock market

Egypt's benchmark index, the EGX 30, took a 10 percent dive. It was the index's largest one-day drop in more than two years. In fact, officials went so far as to temporarily halt trading in the markets.

By Sarah Halzack  | January 28, 2011; 11:31 AM ET  |  Permalink  |  Comments (1)
Categories:  International Economics  
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Economic agenda: Friday, Jan. 28, 2011

At 8:30 a.m. -- The Commerce Department releases its report on gross domestic product growth for the fourth quarter. Economists expect that the GDP grew at an annual rate of 3.5 percent, a nice pickup from the 2.6 percent rate...

By Neil Irwin and Michelle Williams  | January 28, 2011; 6:30 AM ET  |  Permalink  |  Comments (0)
Categories:  *Economic agenda  | Tags:  GDP  
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FCIC Report: Help us investigate it

This morning, the Financial Crisis Inquiry Commission released a report that shows the findings of their months-long probe of what happened during the financial crisis of 2008 and what its causes were. Post reporters Zach Goldfarb and Brady Dennis wrote,...

By Andrea Caumont and Sarah Halzack  | January 27, 2011; 9:58 AM ET  |  Permalink  |  Comments (1)
 
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Economic agenda: Thursday, Jan. 27, 2011

At 8:30 a.m. -- The Commerce Department releases data on durable goods orders for December. Economists surveyed by Bloomberg are expecting an increase of 1.5 percent from November. At 8:30 a.m. -- The Labor Department releases data on first-time claims...

By Mike Shepard  | January 27, 2011; 6:30 AM ET  |  Permalink  |  Comments (1)
Categories:  *Economic agenda  
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Commission member dissents on financial crisis report, says housing policy caused meltdown

A report by a panel charged with investigating the financial crisis offers a scathing critique of Wall Street, federal regulators and the Federal Reserve, whose negligence, a majority of the commissioners say, caused the financial meltdown of 2007-2009. But one...

By Zack Goldfarb  | January 26, 2011; 11:03 AM ET  |  Permalink  |  Comments (0)
 
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Economic agenda: Wednesday, Jan. 26, 2011

At 9:30 a.m. -- The Senate Energy Committee holds a hearing on the BP oil spill to explore the findings of the national commission that investigated the incident and recently published its conclusions. At 9:30 a.m. -- The House Oversight...

By Mike Shepard  | January 26, 2011; 6:30 AM ET  |  Permalink  |  Comments (1)
Categories:  *Economic agenda  | Tags:  Federal Reserve, TARP  
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Economic agenda: Tuesday, Jan. 25, 2011

At 9 a.m. -- S&P/Case Shiller release their monthly index of home prices. Economists surveyed by Bloomberg are calling for a 1.6 percent decline in the nation's most closely watched metropolitan areas in November. At 9 a.m. -- Federal Reserve...

By Mike Shepard  | January 25, 2011; 6:30 AM ET  |  Permalink  |  Comments (0)
Categories:  *Economic agenda  
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IMF: Europe poses the key risk to global economy

Europe needs to increase the size of its economic rescue fund and take more decisive action to fix its weaker banks, the International Monetary Fund said Tuesday in a new report that cites lingering problems in Europe as the key risk to the global economy.

By Howard Schneider  | January 25, 2011; 3:00 AM ET  |  Permalink  |  Comments (1)
Categories:  International Economics, International Monetary Fund  
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