Friday, August 22, 2014

General Economics

CNN Money | Bank of America to pay $16.65 billion over mortgages
The latest agreement settles probes by the Justice Department and six states that accused the bank of misleading the buyers of mortgage-backed bonds about the quality of the loans. The bank admitted responsibility, but the announcement did not include criminal charges.
Bloomberg | Too Much Corn With Nowhere to Go as U.S. Sees Record Crop
From Ohio to Nebraska, thousands of field inspections this week during the Pro Farmer Midwest Crop Tour show corn output in the U.S., the world’s top producer, could be 1 percent more than a government estimate and soybeans 1.2 percent higher, according to a Bloomberg survey of crop scouts.

Econ Comments & Analysis                                                                                            
Forbes | Dispelling The Myth of Corporate Cash Hoarding
The reality is corporations have a little more money than usual, but it is not because they are holding back on spending or hiring.
Real Clear Markets | Narrow Market Exits Today Are Of the 2007-2008 Variety
The huge declines in dealer volumes of corporate credit, the massive and incongruent MBS selloff of last year and now the repo fails in UST are not favorable signs for liquidity under relatively benign conditions.
National Journal | Why Are Women-Owned Businesses So Small?
Women own 30 percent of privately owned businesses but generate just 11 percent of sales, according to federal statistics.

WSJ: Real Time Economics | Homes Built for Rent Claim Smaller Share
Recent Commerce Department data show that construction of single-family homes for rental purposes is shrinking toward its long-term average market share, but that doesn’t include the entire picture.