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Federal Reserve expected to claim no homes have been wrongfully foreclosed
Can you justify putting a family out on the streets? What about millions of families? According to remarks at a recent public meeting, the Federal Reserve is preparing to do just that. In a recent meeting of the Fed’s Consumer Advisory Council, the nation’s central bank came under intense criticism…
Wikileaks: Chinese government shared confidential AIG information with competitors
NEW YORK (Reuters) – U.S. officials believe China’s insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm’s collapse in 2008, according to unpublished diplomatic cables. The U.S. government bailout of American International Group Inc in 2008 sent shock waves around the world, and…
Japan earthquake rocks markets
LONDON — World equities slid and the safe-haven yen steadied in volatile trade Friday after a huge earthquake in major economic power Japan, as dealers tracked a eurozone summit and unrest in the Arab world. A devastating 8.9-magnitude earth quake rocked Japan at 0546 GMT, unleashing a 10-metre high tsunami…
GM financial chief leaves after one year
DETROIT – General Motors chief financial officer Chris Liddell, a key architect of the automaker’s revival after its 2008-09 near-collapse, announced his resignation Thursday after one year in the job. The former Microsoft executive who turned to the auto industry to help with GM’s $49.5 billion government bailout and reorganization…
Angry Birds developer bags 42 million-dollar investment
HELSINKI – Rovio, the Finnish software company that unleashed the Angry Birds game on millions of mobile phone users, said Thursday it had raised a 42-million-dollar (30.4-million-euro) investment. “We will strengthen the position of Rovio and continue building our franchises in gaming, merchandising and broadcast media,” Mikael Hed, the chief…
Exclusive: Amazon coalition slams US judge’s decision to halt $9.5 billion judgment against Chevron
‘We are going to appeal,’ Amazon Defense Coalition tells Raw A judge in New York City ruled earlier this week that an Ecuador court’s decision to hold the Chevron oil company liable for $9.5 billion in damages should be placed on hold. The ruling freezes the landmark judgment until allegations…
Facebook puts six on Forbes billionaire list
NEW YORK (Reuters) – Facebook not only made household names out of its founders thanks to the movie “The Social Network” — it has also minted the latest crop of the richest people on the planet. Six of the founders and investors behind the hot Internet startup made the annual…
Regulator defends itself against bank ‘stress tests’ attack
LONDON — European banking regulators moved Wednesday to downplay reports that some of the new “stress tests” on banks due later this year would be less strict than the much-criticised tests carried out in 2010. The Financial Times (FT) reported that the European Banking Authority would soften parts of the…
Republicans push to overturn ‘net neutrality’ rules
During a Communications and Technology Subcommittee Hearing on Wednesday, House Republicans pushed for a resolution to eliminate ‘net neutrality’ rules recently adopted by the Federal Communications Commission (FCC). The committee passed the resolution, with all 15 Republicans voting to repeal the rules and all 9 Democrats voting against it. The…
Madoff victim paybacks in ‘near future’: trustee
NEW YORK — The court-appointed trustee hunting down assets diverted by jailed fraudster Bernard Madoff has said that payments to victims could start in the “near future.” However, Irving Picard said in a conference call that legal challenges were holding up distribution of the bulk of the funds collected so…
Brand new on Raw Story
- Vermont governor to approve ‘Death with Dignity’ law
- Brazilian tourists die in hot-air balloon crash in Turkey
- First ‘home grown’ British astronaut heads to International Space Station
- New Jersey legislature plans to send four gun control bills to Christie’s desk
- Supreme Court to rule on Christian prayers at government meetings
- Report: More than 85,000 veterans treated for injuries involving sexual abuse
- Revealed: Republicans knew about IRS investigations of tea party groups last July
- Asia-Pacific leaders warn water shortages could create conflict
- North Carolina 2-year-old puts dad’s unattended gun in his mouth and fires
- Arkansas state treasurer arrested on federal extortion charges
Commentary
An open letter to the Center for Inquiry
By Amanda Marcotte
Stop whining about Millennials
By Pando Daily
Six ways the GOP could screw up the Obama administration’s scandals
By Ana Marie Cox, The Guardian
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