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Federal regulators at the Departments of Justice, Treasury and Housing, as well as the Federal Trade Commission, have ordered the nation’s largest banks to revamp their foreclosure procedures and compensate borrowers who were financially hurt by “pervasive” bad behavior or carelessness.  According to the bank regulators, failure to comply with the rules will result in […]

College graduates with advanced degrees are working as bartenders and baristas.  It’s called mal-employment and currently impacts approximately 1.94 million graduates under the age of 30, according data compiled by Andrew Sum, director of the Center for Labor Market Studies at Northeastern University.  Sum said mal-employment has significantly increased over the past 10 years, making […]

The United States has fallen to third place – behind China and Germany – in the development of clean energy sources, according to a new report from the Pew Charitable Trusts. Investment in global clean energy expanded significantly in 2010 to $243 billion, a 30 percent increase over 2009.  China, Germany, Italy and India were […]

The long-feared specter of inflation is finally rearing its ugly head, as consumer prices rose by 0.5 percent in February, according to a report from the Department of Labor.  Take away food and gas prices and the increase was jut 0.2 percent.  “All signs indicate that, against the backdrop of a strengthening economy, inflation is […]

The Treasury Department is planning to sell $142 billion worth of toxic assets that it acquired during the financial crisis.  According to Treasury, it wants to sell approximately $10 million worth of assets every month, depending on market conditions and hopes to end the program next year.  Treasury acquired the securities — primarily 30-year, fixed-rate […]

Americans’ confidence in having adequate money to retire on has hit a 20-year low, according to a survey by the Employee Benefits Research Institute (EBRI).  “We’re getting the most pessimistic results we’ve ever seen,” said Jack VanDerhei, EBRI’s research director and the study’s co-author.  “Those that are not well prepared are finally starting to get […]

The recent construction industry mantra of “Wait until next year” may be coming to fruition in 2011, according to a recent survey conducted by ENR.  The 1st quarter of 2011 Construction Industry Confidence Index (CICI) survey soared to 51 on a scale of 100, a significant increase from the 43 percent reported in the 4th […]

Budget cutters on Capitol Hill are aiming their scissors at AmeriCorps, which was created in 1993 when President Bill Clinton signed into law the National Community Service Trust Act. With the stroke of a pen, Clinton created the Corporation for National and Community Service and brought domestic community service programs under a single umbrella organization. […]

Dame Elizabeth Rosemond Taylor – the Hollywood legend known for her beauty, unusual violet eyes, Academy Award-winning film career, eight marriages to seven men, four (by her count) brushes with death, her love of jewelry, and her tireless efforts that raised more than $100 million for AIDS research – passed away at age 79 after […]

The Federal Reserve made some serious money in 2010. The central bank’s profit soared to $81.7 billion, a record high, primarily from growing interest earnings on federal agency and government-sponsored enterprise mortgage-backed securities.  The Fed’s balance sheet — which also can be monitored monthly — ballooned to $2.43 trillion, up $193 billion from 2009, as […]