Bank of America halts foreclosures in 23 states amid document probe
Bank of America delays foreclosures in 23 states including Kansas while it reviews if it rushed process and did not read documents. Spokesman Dan Frahm said corrected papers will be resubmitted in weeks as GMAC JPMorgan Chase Ally also pause cases. State AGs push for freezes and reviews. Treasury seeks regulator input as authorities probe fraudulent filings and mass signing.
MENTIONED IN THIS ARTICLE
Bank of America
Washington
Kansas
Dan Frahm
Charlotte
Ally Financial Inc
Gmac Mortgage Unit
Jpmorgan Chase
Connecticut
Richard Blumenthal
California
Jerry Brown
Jpmorgan
Florida
GMAC
Ohio
Mark Paustenbach
Treasury Department
Treasury
Associated Press
Renee Hertzler
Hertzler
GOP holds edge with out of state fundraising
The AP analysis shows Republicans drawing more out of state money, especially in Senate open-seat races, while Democrats see a drop in out-of-state contributions. The shift occurs as candidates chase national donors amid economic unease and voter anger toward Obama policies.
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House
Senate
Associated Press
Nonpartisan Center For Responsive Politics
GOP
Congress
Barack Obama
Virginia
Texas
Florida
Sen
John Cornyn
Republican Party
George W. Bush
Notable Stocks Edge Higher as Manufacturing Improves
Stocks rose Friday after the Institute for Supply Management reported that the manufacturing index showed factory activity still expanding in September, though growth cooled from August. Major manufacturers Boeing General Electric and 3M gained while auto sales remained sluggish despite new models and Labor Day promotions. Chrysler and Ford posted small gains, GM and Honda fell, Toyota was flat.
MENTIONED IN THIS ARTICLE
Boeing Co
General Electric Co
3M Co
Institute For Supply Management
U.S
Chrysler Group LLC
Ford Motor Co
General Motors Co
Honda Motor Co
Toyota Motor Corp
Friday Market Summary Shows Mixed U.S. indices
Dow falls to 10829.68 while Nasdaq slips to 2370.75 and S&P 1146.24, indicating cautious trading. Treasury yields edge up to 3.72 percent as commodities turn lower with corn 4.66, soybeans 10.57, wheat 6.89, and oil rising to 81.58 per barrel.
MENTIONED IN THIS ARTICLE
Dow Industrials
S&p 500
Chicago
Kansas City
New York
Flash crash traced to automated sell order on May 6
Regulators linked the Dow plunge to a single $4.1 billion automated sale by a trading firm, amplified by high frequency trading and other market sellers. Waddell & Reed acknowledged a similar May 6 trade. the report notes the design of the trading formula ignored price changes and focused on volume.
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Washington
Dow Jones
Securities and Exchange Commission
Commodity Futures Trading Commission
Waddell & Reed
Overland Park
Kan
New York Stock Exchange
Europe
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