The housing market took a step forward last month after three steps backwards, reports the Associated Press. The Commerce Department says housing starts went up 5 percent last month but experts say it is a blip because of the dry weather.
The conventional wisdom remains that housing starts will slow under the pressure of rising mortgage rates. And [...]
By Ian Mylchreest
The High Court has decided to rule next year on a case that pits national banks against state regulators, reports Bloomberg. The case the court will review pits Michigan's mortgage regulations against Winston-Salem, N.C.-based Wachovia's claim that federal bank regulations pre-empt any state rules.
Similar disputes have arisen in Connecticut, Maryland and California where states have tried [...]
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Tuesday, June 20, 2006
Weill cuts a deal with God
By Ian Mylchreest
The idea sounds a bit preposterous but when you cut through the headline in the London Times, you'll find that former Citigroup Chairman Sanford Weill has decided that his post-career career will be philanthropy. The paper tartly notes that he will receive an annual pension of $1 million.
Weill tells the latest issue of Citigroup Pursuits, a [...]
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