Robo-Signing is the Tip of the Iceberg for the Banks

What may be good news for delinquent credit card holders may also be really bad news for banks. It turns out the "robo-signing" of foreclosure affidavits is just the tip of the iceberg. In what one judge called "robo-testimony," falsely attested-to statements by bank document custodians have been submitted in courts around the country by banks trying to win judgments against delinquent credit card debtors. Apparently, tens of millions of credit cards issued by banks have not been

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Insider Trading Ban: Congress Really Wants You to Like Them

In an attempt to end plunging approval ratings - and win favor in an election year - the Senate passed an insider trading ban yesterday (Thursday) preventing Congress members from profiting from non-public information. The Senate passed the bill in a 96-3 vote. U.S. Rep. Eric Cantor, R-VA, said the House would consider the bill next week. U.S. President Barack Obama pledged to sign it immediately. Congress members hope the new law will change growing American disgust with

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Not Much of a Debate: Inflation is Part of the Plan

Forget about lost decades. Forecasts that we'll be turning Japanese couldn't be further from the truth. Here's why. It's simple, really. Deflation is not in the interest of anybody in power, so it's very unlikely to happen. The U.S. Federal Reserve's policy move to target inflation last week just re-emphasizes this point. That's not to say deflation is a bad thing for everybody. For savers and those living on fixed incomes, deflation would be a very good thing indeed.

inflation

Monday's STOCK Act Vote Could End a Major Congressional Perk

Members of Congress could be one step closer this week to losing one of their most profitable perks, thanks to the STOCK Act (Stop Trading on Congressional Knowledge Act). The Senate will hold a procedural vote today (Monday) on a bill that prohibits Congress members from using nonpublic information to make stock transactions - known as "insider trading" when conducted by corporate insiders. Today's vote could put a time limit on passing the bill, which the Senate will continue

STOCK Act

Facebook IPO: Where's the Love, Mark Zuckerberg?

The long-awaited Facebook IPO is finally arriving - and it's time for Mark Zuckerberg to share the love. But most of Facebook's 800 million users won't get a chance to grab a piece of the multibillion-dollar deal. Instead, the shares will be reserved for the wealthiest investors, not the loyal users who have fueled Zuckerberg's rise to riches. Before Facebook, Zuckererg was just a college student.... Today, Zuckerberg's net worth is $17.5 billion and he's ranked No. 52 on the

Facebook IPO

Three Luxury Companies That Can Bring You Closer to the Good Life

A lot of consumers are hurting right now, but you wouldn't know that looking at the earnings of major luxury companies. Many luxury companies like LVMH Moet Hennessey Louis Vuitton SA (PINK: LVMHF), Burberry Group PLC (PINK: BURBY), Hermes International SCA (PINK: HESAF), and Coach Inc. (NYSE: COH) had a stronger-than-expected 2011 campaign. Better still, they're set to expand on that success this year. U.S. sales are regaining momentum and emerging markets - led by China - have

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Buy, Sell or Hold: 100 Billion Reasons To Buy Apple Stock

Apple Inc. (NASDAQ: AAPL) is one of the world's largest companies based on market capitalization. Cupertino, CA-based Apple just released one of the best earnings reports in the history of capitalism. In short, they crushed it-sending Apple stock to a fresh 52-week high. Take a look: In a record setting first quarter, Apple sold an astounding 73 million devices, including: 5.2 million Macs. 15.4 million iPods. 37 million iPhones. And 15.4 million iPads. Keep in

Apple stock

Before You Get Excited About the Facebook IPO...

For more than a year there has been rampant speculation about a Facebook IPO, and now it finally appears as though one is on the way. The social media giant could file papers for an initial public offering as soon as Wednesday, according to a report from The Wall Street Journal. The company is looking at a deal that would value the social media giant between $75 billion and $100 billion, the WSJ reported, making it one of the biggest in U.S. history. Scott Sweet of IPO Boutique told

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