Toy safety law passes with toughened inspections
The bill would require stricter inspections of toys and overseas products, create a public consumer database, ban lead in children's toys, and set new safety standards. It cleared the Senate and House with veto-proof margins, signaling possible compromise despite Bush opposition. Senators Reid Pryor Klobuchar note hard work ahead for reconciliation.
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Sen
Amy
Housing Woes Deepen as Foreclosures Hit Peak
Foreclosures reach an all time high and homeowner equity slides below 50 percent in mid 2000s data. Pending home sales lag while economists warn the housing market may fall further for years. Analysts cite rising mortgage costs, lower prices, and rising no down payment loans as keys to the downturn.
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New York
Federal Reserve
Fed
Mortgage Bankers Association
U.S
Douglas Elmendorf
Brookings Institution
Mark Zandi
Moody's
Economy.com
Standard & Poor
Credit markets falter deepen risk for bonds and loans
faltering credit markets threaten munis and mortgages as Alabama Jefferson County weighs bankruptcy over 3.2 billion sewer debt while UBS sales rumors and higher loan costs reshape underwriting. analysts warn the crisis is entering a scarier, more systemic phase with rising mortgage spreads and tighter credit.
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Alt-A
Paul Lueken
1St Advantage Mortgage
Lombard
Ill
Treasury
Lueken
The
Illinois Association of Mortgage Professionals
Unemployment claims dip but job market stays slow
The Labor Department reports a drop in new unemployment insurance filings to 351,000 for the week ending March, a 24,000 fall that still leaves the overall labor market soft. In Los Angeles, prosecutors file criminal charges against leaders of two firms accused of importing and distributing over 70,000 tubes of poisonous Chinese toothpaste, City Attorney Rocky Delgadillo says.
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ATIC
Circuit City extends return time for HD DVD players
Circuit City Stores Inc. will allow returns of HD DVD players within 90 days of purchase, expanding the window to align with Blu ray plans. Spokesman Jim Babb said the policy aims to take care of customers, as the retailer shifts to the Blu ray format.
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Richmond
Circuit City Stores Inc
Jim Babb
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Associated Press
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J.W. Elphinstone
Nabby Bull Uibthdalen
Stockton
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the Market IN Review
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Dow Jones
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