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5 Car Insurance Surprises
The Motley Fool - Responsible car owners need auto insurance. But not all policies are alike, and a little investigation can pay off handsomely. Start by making a list of the features that appeal to you. Then see which company can offer the policy you want at a price that works for you.
Ex-Colonial Bank exec to plead to criminal charges
Reuters - A former executive at Colonial Bank, which collapsed in part because of its close ties to the now-bankrupt Taylor, Bean & Whitaker Mortgage Corp, is expected to plead to criminal charges on Wednesday.
Home Affordable Modification Program on GOP's Bad List
ContributorNetwork - COMMENTARY | President Barack Obama instituted the Home Affordable Modification Program (HAMP) to counteract the subprime mortgage crisis. The GOP is quick to point out that the program failed to reach its stated goal of averting the foreclosures of '3 to 4 million American homeowners.' Asserting that HAMP only benefited 753,000 homeowners as of July 2010, the administration counters that approximately 1.5 million homeowners have begun the trial modification aspect of the program.
AIG seeks to recoup billions it says lost to fraud
Reuters - American International Group Inc sued two money management firms on Thursday in a fight to recoup billions of dollars the bailed-out insurer said it lost due to fraud.
HSBC warns of East-West divide on pensions
AFP - Global banking giant HSBC warned of a 'major East-West divide' over pensions on Thursday, as workers in Europe and the US struggle to match their Asian counterparts in adequately saving for retirement.
Paulson says he welcomes Bank of America settlement
Reuters - Hedge fund manager John Paulson, a long-term investor in Bank of America , on Thursday said he welcomed the settlement reached between the lender and mortgage bond investors.
ARM: A British Company Leading the World
The Motley Fool - This article has been adapted from our sister site across the pond, Fool U.K.
AIG repays $2.15 billion to bailout program
AP - American International Group Inc. has paid the federal government $2.15 billion this week after selling off a life insurance subsidiary, trimming its financial bailout balance to roughly $51 billion.
Report: Cities strapped by declining tax revenue
AP - A new survey says more than half of cities have cut staff, canceled projects or raised fees this year to cope with shrinking property- and income-tax revenue.
The Coming No Jobs Market Rally
The Motley Fool - The September jobs report looms large. And if the September jobs number due out this Friday is another goose egg (or worse), one would expect another sharp market decline. But that might not be the case this time or, at least, it shouldn't.
U.S. sues Allied Home Mortgage for lending fraud
Reuters - The government sued Allied Home Mortgage Capital Corp and two top executives for at least $2.5 billion, accusing the company of fraud for misleading the government into believing its loans qualified for federal insurance, causing losses.
GMAC ends most Mass. mortgage lending after suit
AP - One day after it was among five major banks sued by Massachusetts over deceptive foreclosure practices, GMAC Mortgage says it will stop purchasing new mortgage loans written by third parties in the state.
Attention Investors: More Fruits and Veggies From ConAgra!
The Motley Fool - Packaged foods giant ConAgra Foods (NYSE: CAG - News) looks set to expand its presence outside U.S. borders, as it plans to acquire Del Monte Canada from an affiliate of private equity firm Sun Capital Partners for an undisclosed amount.
Illinois to Receive $1 Billion in Multistate Mortgage Settlement
ContributorNetwork - According to the Associated Press, Illinois Attorney General Lisa Madigan announced Illinois would receive about $1 billion in a settlement involving five of the biggest mortgage lenders. The settlement involves numerous other states, which are to receive $25 billion from Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.
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