The Watchmen (Admin)

Nick Timiraos | The Wall Street Journal | November 5, 2009

Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year as part of the latest effort to help troubled borrowers while keeping a glut of foreclosed properties from hitting the housing market.

The Deed for Lea

By ERIC DASH

A year after accepting a bailout from Washington, a resurgent JPMorgan Chase reported a second consecutive quarter of surprisingly strong profit on Wednesday, solidifying its position at the pinnacle of American finance.

JPMorgan’s results — $3.6 billion in profit for the third quarter — fanned hopes on Wall Street that the

By CHRISTINE HAUGHNEY

During much of his tenure, Mayor Michael R. Bloomberg has taken credit for helping to create hundreds of thousands of jobs in New York City, from high-paying construction work to sales jobs at dozens of new big-box stores. Even as the city plods through the recession, the mayor has set a goal to “retain and create” an additio

The Dow Jones industrial average, one of the most-watched markers of the financial world, closed above 10,000 points on Wednesday, a milestone of the stock market’s recovery from the depths of the financial crisis.

At the close, the Dow was up 144.8 points or 1.5 percent at 10,015.86. It had not closed above 10,000 since Oct. 3, 2008.

“The last time we saw 10,000 we were

The dollar's position as the world's leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said.

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency's future.

The dollar slumped against rivals last week in the wake of the British da

However, unlike other commodities it has relatively few uses other than as an ornament. Copper is used in wiring, iron is used to manufacture steel but gold's main uses are – and always have been – as a store of value and as a way to demonstrate personal wealth. Even if solid gold bathroom taps are not to your taste, they certainly make a point.

This means that gold really should b

Breaching this level is significant, said David Jones, chief market strategist at IG Index.

"This area had successfully capped any strength since the middle of September and today’s levels are the highest seen for more than a year, which should help banish any worries that the recovery was running out of steam," he said.

London's index of leading shares was up 57 - or 1.1pc - at 5221 by noon as a broad range of sectors showed gains.

Insurer Old Mutual was the biggest ris

WASHINGTON (Reuters) - The U.S. government spent a record $1.4 trillion (876.9 billion pounds) more than it collected in the fiscal year ended September 30, congressional analysts said on Wednesday, in their final estimate before the official numbers are issued.

Bank bailouts, stimulus spending and declining t

Gordon Brown today announced a major fire sale of government assets to raise £3billion to cut the national deficit.

The Prime Minister revealed he wants to offload the government’s one third share in URENCO, a nuclear company that enriches uranium in Britain, Germany and the Netherlands - but only after safeguarding national security.

And he confirmed that the Channel

Bank of America Scrambles to Modify Loans Ahead of Government Deadline

By Renae Merle
Washington Post
Monday, October 12, 2009

PLANO, Tex. -- Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center, attache