Market will ‘tank’ if debt deal not done: Blinder

by Dorothy Zhang | Jul 7, 2011 | Business & Tech

WASHINGTON — The former vice chairman of the Federal Reserve on Thursday said the stock market would “tank” if the U.S. government defaulted on debt. If the market’s expectation that a deal to increase the debt ceiling is proved to be wrong, they would be shocked,...

‘Thousands and thousands’ of tweets await Obama

by Dorothy Zhang | Jul 5, 2011 | Business & Tech

WASHINGTON – The White House said Tuesday that “thousands and thousands” of tweets have already been submitted for Wednesday’s first-of-its-kind Twitter Town Hall with President Barack Obama. But White House Communications Director Dan Pfeiffer said it is...

Consumers could take a hit from Fed’s debit card swipe fee ruling

by Dorothy Zhang | Jul 1, 2011 | Business & Tech

WASHINGTON — The Federal Reserve Board’s ruling this week on debit card swipe fees could have implications for consumers if banks and retailers decide to pass along the costs of implementing the decision. The Fed issued a final rule Wednesday establishing...

Small banks squeezed on mortgages, lawmakers say

by Dorothy Zhang | Jun 28, 2011 | Business & Tech

WASHINGTON — Equal access to the secondary mortgage market is necessary to curb further bank concentration of the industry, Senate lawmakers from both parties said on Tuesday. Sen. Richard Shelby, the Alabama Republican who is the ranking member on the Senate...