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29 Jun 2009 20:46

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U.S.: Busy day on the Supreme Court tip. Here’s a sampling.

  • A seismic shift The biggest, most notable decision the court made today was ruling in favor of a group of white firefighters who felt they were discriminated against due to the city of New Haven, Conn. hiring black firefighters with lower scores on a test. This will affect hiring practices across the board.
  • Cable > big mediaThose with cable set-top boxes have reason to be happy, as the court also ruled in favor of cable companies who wanted to allow their users to store their shows on a central server. That means you don’t have to buy a DVR with a massive hard drive – and that TiVo is screwed.
  • Spitzer’s phoenix risesThe Court made one fairly surprising decision, letting state regulators take on national lenders for discriminatory practices, such as high interest rates. The decision should help former New York Gov. Elliot Spitzer’s rep, as it’s based on moves he made as the state’s attorney general.

06 Jun 2009 20:33

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Biz, U.S.: Big businesses try to get rid of the scourge that is TARP funds

  • $25 billion The estimated amount the federal government expected to get back from bailed-out financial institutions
  • twice that The updated amount of TARP funds the feds expect back; banks want to be rid of it source

04 Mar 2009 10:22

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Biz: Once part of the housing problem, now part of the solution?

  • It is very important to the entire team here to be part of a solution.
  • Stanford L. Kurland • Former president of Countrywide, a company synonymous with the housing crisis, on his new venture, PennyMac. PennyMac buys back delinquent mortgages and resells them. While some homeowners claim to be helped, some critics claim it’s like an arsonist who sets fire to the home, “then buys up the charred remains and resells it.” • source

15 Jan 2009 09:31

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Biz: Who says you can’t go home? The bank. Foreclosures are up.

  • 81% increase in forclosures from 2007 to 2008; the number tripled from 2006 to 2008.
  • 1.84% of all homes received at least one foreclosure filing in 2008. There goes the neighborhood. source