TPG pulls out of Bradford & Bingley plan (AP)
AP - Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of its agreement to invest more than $350 million in the mortgage banker.
Bank of America completes acquisition of Countrywide (AFP)
AFP - Bank of America said Tuesday it completed its purchase of Countrywide Financial, the largest US mortgage lender that had been at the center of the country’s subprime loan crisis.
Employers use federal law to deny benefits (AP)
AP - Dying of cancer, Thomas Amschwand did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer.
SEC finds shortcomings in credit raters (Reuters)
Reuters - Credit rating agencies did not properly manage their conflicts of interests when assigning ratings to structured products such as mortgage-backed securities, a report by the U.S. Securities and Exchange Commission said on Tuesday.
How online videos can make you rich
More and more data go speeding along the information superhighway every day. Only trouble is, the roads in the U.S. are too narrow, and they’re getting clogged. Unless carrying capacity increases rapidly, Internet users will experience more and more traffic jams in the form of slower service.
Treasuries move higher on concerns about economy (AP)
AP - Treasury bonds rose Monday as investors fled the stock market amid growing concerns about the financial sector. A Federal Reserve official warned that financial companies’ problems might worsen, and a Wall Street analyst raised questions about government lenders Freddie Mac and Fannie Mae.
