Bank of America expects civil charges over mortgage bonds

Reuters reports that the Justice Department intends to file civil charges against Bank of America Corp. linked to a sale of one or two mortgage bonds. The Securities and Exchange Commission may also file civil charges for one of those bonds. Both cases relate to mortgages that were too big to be guaranteed by Fannie Mae or Freddie Mac but were packaged into "jumbo" mortgage bonds. Read more


Obama narrows field for Fed chairman to 3

The New York Times reports that President Obama is now in the process of interviewing three candidates for the Federal Reserve chairman position: Larry Summers, Obama's former economic policy adviser; Janet L. Yellen, the vice chairwoman at the Federal Reserve, who had generally been considered the front-runner for the job; and a dark horse for the post, Donald L. Kohn, a former Fed vice chairman. Read more


If Wall Street's right, Obama may nix Keystone

CNNMoney reports President Obama hasn't decided whether he will approve the expansion of the controversial Keystone oils sands pipeline just yet. But in a strange turn of events, some opponents of the plan are finding support for their position from an unlikely source: Wall Street. Read more