Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell reported their net worth in the millions of dollars as the U.S. Senate released personal financial disclosure reports for its members.
Gun sellers and owners and firearms advocacy groups sued the state of Connecticut in federal court seeking to block enforcement of weapons restrictions enacted after last year’s deadly school shooting.
Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates climbed to the highest in almost a year as Federal Reserve Chairman Ben S. Bernanke told Congress the central bank may cut the pace of bond purchases in the “next few meetings.”
U.S. stocks slid, dragging benchmark indexes to their worst drop in three weeks, and Treasuries and gold tumbled on concern the Federal Reserve will scale back stimulus efforts if the labor market improves.
If you live on either coast, you've probably already seen this: the housing sales market is getting downright frothy. Here's a Bloomberg story about a $190 million listing (not a typo) for a home in Greenwich, Connecticut. That's froth. As Bloomberg News also reported recently, the frenzy has been sparked ``by the Federal Reserve’s drive to push down borrowing costs, a scarcity of listings and Wall Street’s new appetite for foreclosed homes.''