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Dec 22, 2011
12/11
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susie gharib is off this week. i'm joined by suzanne pratt. suzanne, four years after the housing market went bust there was a big settlement today over discriminatory mortgage lending practices. >> suzanne: tom, bank of america will pay $335 million to settle allegations its countrywide unit discriminated against minority borrowers during the housing boom. it involves black and hispanic customers who were sold higher cost loans than other homeowners. >> tom: in announcing the deal, the government calls it the largest residential fair-lending settlement in history. darren gersh picks up the story. >> reporter: the justice department alleges countrywide discriminated against minorities across the country, charging them higher fees. in the worst cases, 10,000 african american and hispanic homeowners who should have gotten prime loans were steered into higher-cost subprime loans. >> these allegations represent alarming conduct by one of the largest mortgage lenders in the country during the height of the housing market boom. >> reporter: the sett
susie gharib is off this week. i'm joined by suzanne pratt. suzanne, four years after the housing market went bust there was a big settlement today over discriminatory mortgage lending practices. >> suzanne: tom, bank of america will pay $335 million to settle allegations its countrywide unit discriminated against minority borrowers during the housing boom. it involves black and hispanic customers who were sold higher cost loans than other homeowners. >> tom: in announcing the deal,...
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Dec 24, 2011
12/11
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susie gharib is off tonight. merry christmas and happy holidays, congress has officially okayed the payroll tax cut. but the extension passed today lasts only through the end of february. the $33 billion two month tax cut was quickly signed into law by president obama. it means u.s. workers won't see a tax increase come january 1st on what they pay into social security. the bill also extends long term federal unemployment benefits, but also only through the end of february. and it addresses the so-called doc-fix, meaning there will be no cut in payments to doctors treating medicare patients. their fees could have been slashed by 27%. while today's measure keeps a return to the higher tax rate at bay. for now, the president urged congress to keep working after the holidays to extend the cuts through all of next year. >> this continues to be a make- or-break moment for the middle class in this country, and we're going to have to roll up our sleeves together-- democrats and republicans-- to make sure that the econom
susie gharib is off tonight. merry christmas and happy holidays, congress has officially okayed the payroll tax cut. but the extension passed today lasts only through the end of february. the $33 billion two month tax cut was quickly signed into law by president obama. it means u.s. workers won't see a tax increase come january 1st on what they pay into social security. the bill also extends long term federal unemployment benefits, but also only through the end of february. and it addresses the...
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Dec 20, 2011
12/11
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this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening, and thanks for joining us. my colleague susie gharib is off this week. i'm joined by suzanne pratt. suzanne, at&t made it official tonight: it's hanging up on its deal to buy t-mobile's cellular network from deutsche telekom. >> suzanne: tom, the early termination fee on this contract is a hefty $3 billion in cash, and another $1 billion worth of wireless spectrum and roaming services. >> tom: the deal began to run into trouble after the justice department sued to stop it this summer. the federal communications commission also opposed the merger. in a statement today, at&t said, "the actions to block this transaction do not change the realities of the u.s. wireless industry," citing the demand for more capacity to serve more and more wireless devices. porter bibb is managing partner with media-tech capital partners. nice to see you again. >> great to be here, tom. >> tom: is this the righ
this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening, and thanks for joining us. my colleague susie gharib is off this week. i'm joined by suzanne pratt. suzanne, at&t made it official tonight: it's hanging up on its deal to buy t-mobile's cellular network from deutsche telekom. >> suzanne: tom, the early termination fee on this contract is a hefty...
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Dec 23, 2011
12/11
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this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. susie is off this week. my colleague suzanne pratt is with us tonight. suzanne, after weeks of deadlock, it looks like we could finally see a deal on extending the payroll tax cut. >> suzanne: tom, it came late today with house speaker john boehner agreeing to another vote on the senate's plan for a two- month extension. if that vote fails tomorrow, payroll taxes will go up january 1 from just over 4% to 6.2%. >> tom: that works out to a difference of about $40 a week for most workers. >> you know, when everybody called for a one-year extension of the payroll tax deduction, when everybody wanted a full year of extended unemployment benefits, we were here fighting for the right things. it may not have been politically the smartest thing in the world, but i'm going to tell you what-- i think our members waged a good fight. we were able to come to an agreement. we w
this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. susie is off this week. my colleague suzanne pratt is with us tonight. suzanne, after weeks of deadlock, it looks like we could finally see a deal on extending the payroll tax cut. >> suzanne: tom, it came late today with house speaker john boehner agreeing to another vote...
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Dec 21, 2011
12/11
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this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. my colleague susie gharib is off this week. i'm joined by suzanne pratt. suzanne, investors got an early holiday gift today-- a hefty rally in stocks. >> suzanne: tom, it was enough to pull the dow industrials into positive territory for the month. strength in the housing market was a big support for equities. construction of new homes rose 9.3% in november, the best showing since april of last year. >> tom: on top of that, investors were cheered by good european news. first, german business and consumer confidence rose unexpectedly, and then spain pulled off a successful bond auction. the dow tacked on 337 points to close back above 12,000. the nasdaq surged 80 points and the s&p 500 was up nearly 36 points. despite the positive news out of europe, credit ratings agency fitch became the latest to warn european banks about possible downgrades. wolfgang koester is
this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. my colleague susie gharib is off this week. i'm joined by suzanne pratt. suzanne, investors got an early holiday gift today-- a hefty rally in stocks. >> suzanne: tom, it was enough to pull the dow industrials into positive territory for the month. strength in the housing...