Lawmakers seek tighter oversight of credit raters (AP)
AP - Lawmakers on Tuesday proposed tightening oversight of Wall Street’s credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities. More Info…
Reuters - The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .
Reuters - Stocks are likely to hit more speed bumps this week as investors become more wary of Wall Street’s ability to rally further and housing starts, jobless claims and other indicators are in the spotlight.
AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…
AP - President Barack Obama said homeowners facing foreclosure would have a second chance under a measure he signed into law on Wednesday, but he added consumers still must live within their means.
AP - Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said Tuesday. More Info…
