Federal regulators have announced a nationwide review of foreclosures by the country's largest banks. The goal is to reach homeowners who've been treated unfairly, or who lost their house when they shouldn't have. Anyone in any stage of foreclosure during 2009 and 2010 is eligible for the review.
The supercommittee's failure to reach a budget deal had been predicted for days, even weeks. And now leaders in Washington cannot agree on who is to blame, or what should happen next. President Obama said he would veto any effort to get rid of the automatic spending cuts to domestic and defense spending.
Some auto executives say customers may not be ready for hybrids yet, but now it's time for the car companies to lead them there. For companies to meet new rules that will nearly double average fuel economy by 2025, hybrids will have to play a much bigger role than they do now.
John Timmons recently closed ear X-tacy, a record store he'd owned for 26 years. "People have priorities, and music is just not a top priority right now. That's what's really taken its toll on us," he says. Now, Timmons has to figure out what to do with the rest of his life.
Former Massachusetts Gov. Mitt Romney has promised to take a hard line against China on trade issues. He's not alone. In 2008, then-candidate Barack Obama made a similar threat. But, experts say, there's a big gap between confrontational campaign rhetoric and action.
The retailer's prepaid debit card is catching on with people who've been burned by extra charges at big banks. The card costs a flat $3 a month and doesn't allow overdrafts. Banks have lobbied against Wal-Mart's entrance into the financial sector, but "their worst fears came true," one analyst says.
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