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Bank of America to cut 2,100 jobs

Bank of America said Monday it would cut 2,100 jobs from its home mortgage unit as a key driver of the business, refinancing, has slowed down with higher interest rates. Dan Frahm, a spokesman of the country’s second largest bank, also explained that it needs less staff than in the…

China says time is ripe to liberalize interest rates

China’s central bank chief says conditions are ripe for Beijing to liberalise interest rates, a move analysts say would boost domestic demand as the nation’s exports are hit by overseas turmoil. Beijing has cut the nation’s growth target for 2012 as its export-driven economy slows, and a key policy focus this year will…

They Used To Call It The Vig

There are certainly worse influences in poor communities than payday lenders, but those influences tend be involve acts of God and/or organized street gangs. Barring that, there’s little you could plan better than effectively removing banks and making the only instruments of financial planning one of the half-dozen check cashing…

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