iOS app Android app

Entries by Alexander Eichler from 01/2012

Child Poverty Tops 20 Percent In Half Of U.S. States: Report

Posted 01.03.2012 | Business

Child poverty is getting worse in America. And with more and more states seeing their populations of disadvantaged youth soar beyond pre-recession lev...

MBIA Lawsuit: Major Insurer's Case Against BofA Gets Easier

Posted 01.03.2012 | Business

The bad news continues to pile up for Bank of America, with a New York state court issuing a ruling Tuesday that will make it easier for a major bond ...

Credit Card Interest Rates Hit Record Highs As Companies Market Themselves More Aggressively

Posted 01.04.2012 | Business

If one of your New Year's resolutions is to pay off your credit card debt, be advised that it's getting harder all the time. That's because credit car...

Regulators Have Missed Three-Fourths Of Dodd-Frank Deadlines So Far

Posted 01.04.2012 | Business

When the Dodd-Frank financial reform law became official in 2010, supporters hoped it would herald in a new era of sobriety and transparency for the f...

Government Accounted For Nearly A Third Of All Layoffs In 2011: Report

Posted 01.05.2012 | Business

For government workers and financial sector employees, last year was a particularly bad one -- and 2012 likely won't be much better. More jobs were...

IRS Audits Of Millionaires Jump By Roughly A Third In Fiscal 2011

Posted 01.05.2012 | Business

What do the Occupy movement and IRS have in common? They're both taking an interest in the one percent. Tax audits for millionaires jumped in fisca...

Cheap U.S. Labor Used As Leverage To Lower Canadian Workers' Wages

Posted 01.06.2012 | Business

The near-standstill in wage growth for American workers hasn't just been good for their employers. It's turning out to be a potential bargaining chip ...

Insurer Profits Are Up In The Wake Of Health Care Law They Opposed

Posted 01.06.2012 | Business

Since insurance companies undertook extensive lobbying efforts against health care reform -- spending millions in an attempt to derail the legislation...

HSBC's Fine In Foreclosure Case Less Than 'A Slap On The Wrist,' Lawyer Says

Posted 01.09.2012 | Business

The process known as foreclosure mediation is often cited as a way for distressed homeowners to help themselves -- to sit down with lenders and renego...

Over Two-Thirds Of Corporations Pay No Federal Corporate Income Tax

Posted 01.10.2012 | Business

At a time when the federal government is starved for cash -- and facing layoffs and cuts in services across the board -- more and more corporations ar...

Banks Probed For Allegedly Steering Homeowners Into More Expensive Insurance

Posted 01.11.2012 | Business

Let's say you're a homeowner facing tough times. You're starting to fall behind on your home insurance payments, but then, your bank steps in and buys...

From Wall St. To Washington: Famous Moments In Revolving Door History

Posted 01.11.2012 | Business

Want to get to Washington? Try going through Wall Street. As a look at any recent presidential administration will show, people move between the two w...

Wall Street Executives Expected To See Smaller Paychecks As Industry Restructures

Posted 01.12.2012 | Business

Wall Street firms will be getting a more modest payday this year, though how long it lasts will be anyone's guess. Executive paychecks at big finan...

Labor Market Poised To Ramp Up, But Wage Growth May Stay Low

Posted 01.13.2012 | Business

The hiring outlook seems to be improving, according to some forecasts. What that means for the actual wages has yet to be decided. A number of rep...

France To Pursue Budget Reforms Following Downgrade

Posted 01.14.2012 | Business

PARIS -- France's prime minister said Saturday his country will push ahead with cost-cutting measures after its top-tier debt rating was downgraded, a...

Housing Bust Continues To Haunt Big Banks

Posted 01.14.2012 | Business

NEW YORK -- The economy may be healing, but banks are suffering from a housing hangover. JPMorgan Chase spent $3.2 billion last year to fight lawsuit...

Mild Winter Yields Strange Economic Patterns

Posted 01.14.2012 | Business

NEW YORK -- Out of a relatively balmy winter have sprung some economic surprises. People have more cash in their pockets because they aren't turning u...

Goldman Employees Likely To Cash In Despite Company's Down Year

Posted 01.17.2012 | Business

Goldman Sachs isn't likely to garner much public favor when it announces its earnings this week, as forecasts predict that the bank will boost the sha...

Homeless Rate Ready To Rise As Stimulus Cash Runs Out: Study

Posted 01.18.2012 | Business

Although the recession has officially been over for two years, the worst may be to come for many people. Job losses rose during the last few years....

JPMorgan Chase Accused Of Fabricating Paperwork, Imposing Extra Costs On Borrowers

Posted 01.19.2012 | Business

In a case that suggests the financial crisis far from marked the end of big bank misconduct, JPMorgan Chase is facing a potential class action lawsuit...

Wall Street Pay, Declines And All, Remains Sure Bet For Big Money

Posted 01.21.2012 | Business

Payouts declined on Wall Street this year, as the major financial firms tried to steer through several quarters of lawsuits, layoffs, jittery markets,...

How Mitt Romney Got A Seven-Digit Windfall Courtesy Of Goldman Sachs

Posted 01.24.2012 | Business

Mitt Romney, man of considerable wealth, has Goldman Sachs to thank for at least some of his fortune. In his 2010 and preliminary 2011 tax returns...

State Of The Union Address 2012: Obama Calls Income Inequality 'The Defining Issue Of Our Time'

Posted 01.24.2012 | Business

The president has the wealth gap on his mind. Obama identified the need for a level economic playing field as "the defining issue of our time" in h...

Davos: At World Economic Forum, Income Inequality A Major Concern

Posted 01.25.2012 | Business

High in the Swiss Alps, the global wealth gap is being identified as a source of misery and unrest. Participants in the annual World Economic Forum...

JPMorgan Chase's Jamie Dimon: Anti-Banking Sentiment 'A Form Of Discrimination'

Posted 01.25.2012 | Business

Jamie Dimon, the head of JPMorgan Chase, would like to make it clear that he is not that kind of banker. "I've disagreed right from the beginning o...