Kick third-party agents out of foreclosure rescue, mortgage modification business

There is no doubt that the Spin Doctors have been successful. They spun the economy into a frenzy that could not be sustained. Others put the spin on the stock market, while speculators put a spin on everyone with high gas and oil prices. Fair and balanced news is so far from the truth it …

$29 trillion credit-default swap market proposed legislation

Draft legislation that would change how over-the-counter derivatives are regulated might prohibit most trading in the $29 trillion credit-default swap market. Is this needless regulation or a good idea announced too late to stop a disaster? Let’s ask the biggest party givers – AIG. U.S. regulators and politicians are stepping up pressure on banks to …

Cleanup underway in subprime houses

This is a recap. Merrill Lynch & Co. Inc. said in a financial report that it has agreed to pay $550 million to settle separate class action lawsuits stemming from subprime loss disclosures. The Ohio State Teachers Retirement System, the lead plaintiff in one lawsuit brought on behalf of stock purchasers, agreed to a proposed …