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A look at the 4 eurozone countries with bailouts


Europe agreed Saturday to allow Spain to tap a rescue fund of up to (EURO)100 billion ($125 billion) to bail out its troubled banks, which are struggling under the weight of soured real estate loans after a Spanish housing bubble burst. Spanish Economy Minister Luis de Guindos said the country will reveal how much money it needs within coming weeks, after audits of its financial sector are completed.


Whistleblower Facing Foreclosure Wins $18 Million

Lynn Szymoniak

When we first met Lynn Szymoniak on 60 Minutes, she was losing her home. She blew the whistle on bank fraud, and now she's walking away with $18 million, read more about the illegal use of robosigning by banks.


Report: Banks netted $13B from Fed loans

Banks earned $13 billion in secret cut-rate loans from the Federal Reserve during the financial crisis, Bloomberg reports... "Many Americans are struggling to understand why banks deserve such preferential treatment while millions of homeowners are being denied assistance and are at increasing risk of foreclosure," Cummings wrote in his letter.


AIG sues BofA for $10 billion alleging "massive fraud"

AIG sues BofA for $10 billion alleging

The insurer AIG is suing Bank of America Corp to recover more than $10 billion of losses from a "massive fraud" on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank.


There’s a bigger house of cards that hurt minority homeowners’ wealth

It is far too easy to say that minorities have only themselves to blame for their wealth decline because they bought homes they couldn’t afford. That argument would let so many off the hook. It would excuse the government for its monumental failure to tame predatory lenders. And it would absolve the lenders who came up with exotic mortgages that should never have been pitched ubiquitously, especially not to financially fragile minority borrowers. But blaming the victim is what we do so well in America.


Housing starts see biggest drop since 1984

Housing starts see biggest drop since 1984

Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history.


Foreclosure activity up across most US metro areas

Foreclosure activity up across most US metro areas

The foreclosure crisis is getting worse as high unemployment and lackluster job prospects force homeowners in an increasing number of U.S. metropolitan areas into dire financial straits....


Drop in Home Prices Raises Risk of Housing 'Double-Dip'

Drop in Home Prices Raises Risk of Housing 'Double-Dip'

New data reveals home prices in America's biggest cities are on a downward trend that could last through next year — making it more likely the housing market will face another downturn and threaten the overall economy.Inflation Helps Boost Value of Tax DeductionsYOU DECIDE: Have You Saved Enough?


Lawmakers Struggle to Stem Foreclosure Fiasco

Congressional lawmakers scramble to come up with quick fix to the foreclosure fiasco that has threatened the economic recovery and thrown a monkey wrench into their re-election campaigns.Up to 40 States Plan Foreclosure Data Inquiry


Whitman's economic plan will do little to bring jobs to California, experts say

The GOP gubernatorial candidate promises to cut spending and suggests that lower taxes and less regulation will spur business. But experts say the bleak economy is mostly due to the real estate crisis.


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