News
CNN Money | Big banks paying U.S. for mortgage mess
Regulators at the Federal Housing Finance Agency are on the verge of scoring some of the government's biggest victories against Wall Street banks since the financial crisis.
Politico | March on Washington anniversary: Obama calls for economic fairness
President Barack Obama celebrated the progress made in the 50 years since the March on Washington but called for action on the “great unfinished business” of the civil rights movement: economic fairness for all Americans.
FOX Business | U.S. Bank Earnings Rise to $42.2B in 2Q
U.S. bank earnings rose to a record high $42.2 billion during the second quarter of 2013 as trading income jumped and banks reduced the funds they set aside in case of losses.
CNN Money | Employers play Obamacare blame game
No more health benefits for spouses. Higher deductibles for employees. More cost-sharing.
Bloomberg | Economy in U.S. Grew More Than Forecast in Second Quarter
The U.S. economy expanded at a faster pace in the second quarter as a smaller trade deficit and gains in inventories overshadowed the effects of federal budget cutbacks.
Econ Comments & Analysis
Bloomberg | Consumer Comfort in U.S. Declines to a More Than Four-Month Low
Consumer confidence fell for a third straight week to the lowest level in more than four months as Americans’ views on the economy, finances and spending soured.
Bloomberg | Five Reasons Housing Isn’t Ready to Drop Dead
Hissss! That’s the sound of the air coming out of the housing market. At least that’s what some folks thought they heard when the U.S. Census Bureau reported a 13.4 percent dive in new home sales in July, the biggest decline in more than three years and one that coincided with a sharp increase in mortgage rates.
AEI | A Qualified Residential Mortgage ≠ a Qualified Mortgage
Today, six federal agencies issued a Proposed Risk Retention Rule calling for a Qualified Residential Mortgage to be equal to a Qualified Mortgage (QRM = QM).
Blogs
WSJ | Vital Signs: Profits Are Outpacing GDP Growth
Corporations continue to rake in the cash. Aftertax profits increased 2.6% in the second quarter from the first quarter, said the Commerce Department Thursday. Compared to a year ago, profits are up 5.8% while nominal gross domestic product increased just 3.1%.
