In an unprecedented move, a group of venture capitalists out of San Francisco hopes to convince county and local officials in California to use the power of eminent domain to seize control of private residential mortgage-backed securities with the intent of cutting the principal balances of negative-equity borrowers.
TRENTON – Bipartisan legislation to revise restrictions on New Jersey’s microbreweries and brewpubs and make it easier for them to offer their product to the public and enhance their appeal as tourist destinations was released this week by and Assembly panel.
The Commodity Futures Trading Commission, the main regular of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks.
WASHINGTON, D.C. — U.S. median household net worth declined 35 percent between 2005 and 2010, from $102,844 to $66,740 (in 2010 constant dollars), according to a data released today by the U.S. Census Bureau. That means half of all U.S. households had a net worth greater than $66,740 in 2010, while half had a net worth of less.
As parents, we hope we’re doing a good job raising our children – teaching them right from wrong, instilling the desire to learn and demonstrating how to manage money responsibly. But what if they see us preaching one behavior while practicing another? What’s to stop them from following in our sometimes misguided footsteps?
TRENTON – New Jersey’s tax revenue collections for May were 15 percent higher than in May 2011, according to data released today by state Treasurer Andrew Sidamon-Eristoff said.
TRENTON – Legislation sponsored by Senators Barbara Buono and Shirley Turner to provide residents who save for their children’s college education through a state-administered college savings plan with a state income tax deduction for their investments was unanimously approved by the Senate Higher Education Committee yesterday.
NEWARK —The New Jersey Bureau of Securities urged citizens throughout New Jersey to take a stand and join the fight against the “crime of the 21st century” by reporting suspected abuse of New Jersey’s seniors. The announcement was made today in recognition of World Elder Abuse Awareness Day.
JPMorgan Chase, one of the nation’s largest banks, announced that it lost over $2 billion in trading over the last few months. This has emboldened supporters of the Volker rule, which prohibits banks that enjoy government support from making risky investments other than loans. The Volker rule is a step in the right direction of reducing the risk that banks take with their asset portfolios.