All Economy
Overdraft fees? Chase says not under $5.Chase bank will eliminate overdraft fees on purchases costing less than $5 starting July 22. Say goodbye to that $40 cup of coffee.
From progression to regression: Wall Street moves into the closetA 200-year evolution followed by a 10-year devolution, progression turned to regression in no time at all. The exchanges went for-profit and a third of all trading activity migrated away into the dark recesses of a utility closet.
Bush tax cuts: Not a tax increase. A reset.Letting the Bush tax cuts expire wouldn't be a tax hike, as many are describing it. If policymakers want to reinstate the Bush tax cuts after they expire, they should be required to find a way to pay for them.
Jamie Dimon: JPMorgan trading loss grew to $4.4BJamie Dimon, JPMorgan's CEO, said Friday that the bank's loss from a highly publicized trading blunder had grown to $4.4 billion, more than double the original estimate. Jamie聽Dimon faces further questioning from Wall Street analysts later Friday.
Material world: Tips to help children grow up free of entitlementA large portion of a child's sense of right and wrong can come from early experiences. Help your children grow up free from the influence of material wealth and entitlement by encouraging them to volunteer, donate to charity and remember to stay thankful.
Stocks slide on Wall Street for sixth straight dayUS stocks slid for a sixth day Thursday as concern spread that weaker global economic growth will hurt US corporate earnings. The Dow fell as much as 112 points in early trading. It recovered to turn briefly positive before closing with a loss of 31 points, or 0.3 percent, at 12,573.
Keeping perspective: Taxes do not always drive the economyThe presidential campaign would like Americans to think the very fate of the country rests on what happens to the Bush tax cuts. But the Congressional Budget Office reminds us there is actually a lot more going on in the economy besides taxes.
Regressives and Progressives: A new brand of partisanshipThis election is not merely about Republicans versus Democrats; the larger battle is between regressives and progressives. Regressives want to take this nation backward, progressives are determined to take this nation forward.
Wells Fargo to pay $175M in discrimination lawsuitWells聽Fargo allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers from 2004 through 2009. Wells Fargo will pay $125 million in compensation for borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin
Isuzu SUVs recalled for corrosion include 11,000 cars. Are you affected?Isuzu SUVs are recall affects certain models of the Amigo and Rodeo Sport SUVs manufactured between 1998 and 2002, owned in states where salt is used to clear roads. In these regions, corrosion may have damaged brackets in Isuzu SUVs that connect the rear of the vehicle to the frame.
Extended unemployment numbers show further slight declinesToday鈥檚 jobless claims report showed a decline to both initial and continued unemployment claims with seasonally adjusted initial claims remaining below the 400K level. Seasonally adjusted 鈥渋nitial鈥� claims declined to 350,000.
Second quarter predictions continue to decrease as stocks fallAs stocks continue their decline, market analysts have revised Q2 estimates slowly but steadily downward for almost the entire spectrum of S&P sectors all spring and summer long. Not a lot of good news here, not that the Reformed Broker is surprised.
Jobless claims plunge to a 4-year low. Good sign?Jobless claims dropped by 26,000 last week, hitting the lowest level seen since March 2008. But experts expect the steep drop in jobless claims to even out in the coming weeks.
Jamie Dimon: 4 questions for CEO as bank earnings loomJamie Dimon and JPMorgan Chase will be center stage as the bank reports its quarterly earnings Friday. Four questions for Jamie Dimon and JPMorgan's other top executives.
Paul Krugman versus Paul KrugmanPaul Krugman of the 1970s argued that devaluations are usually contractionary. Ironically, this conclusion puts him at odds with Paul Krugman of the last 20 years, who thinks devaluations are the one true key to prosperity.
Get out of town: the world's 10 best-reviewed hotelsThe world's 10 best hotels according to Expedia range from a boutique in Slovakia to a chain in Nebraska. Only 4 of the world's 10 best hotels are in the US, in cities you might not expect.
Mortgage rates fall to 3.71 percent, hit yet another record lowMortgage rates with a 30-year fixed interest rate declined to 3.71% since last week while the purchase application volume increased 3.0% and the refinance application volume declined 3.0% over the same period. last week's disappointing jobs report pushed mortgage rates to their 10th record low in 12 weeks.
Stocks close lower for fifth day straightIt was the fifth straight day of losses for both the Dow and S&P. That's the worst stretch for both since a six-day losing streak in May. With the US economy sluggish, there was little for investors to hold on to as the Dow closed down 48 points at 12,604.
Debate on reserve fractional banking devolves into public squabbleRon Paul showed how he is open to debate by having both Professor Joseph Salerno and Professor Larry White testify before his sub-committee聽on the subject of fractional reserve banking. But a perceived bias towards Salerno prompted a rebuke by George Selgin.
How to 'contain the depression?' More credit, economists claimBill Bonner is not too pleased with economists right now. In his latest post he claims that as a result of their conceits and delusions, trillions of dollars have been clipped from the world鈥檚 GDP, billions of people are poorer and their lives shorter.
