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Bernanke recouped personal losses in 2009 (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke's personal finances recovered in 2009, disclosure forms released by the central bank on Friday showed.

Cuomo widens insurer probe with 6 more subpoenas (Reuters)

Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.

Reverse Mortgages Aren't Catching On (U.S. News & World Report)
U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.

Fannie Mae portfolio grows, delinquencies decline (Reuters)
Reuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.

NY AG announces probe of life insurance industry (AP)
AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.

Many fear job loss, but have no savings for it
Even though the weak economy has left millions of people without work, many Americans are still woefully unprepared to cover their expenses if they lose a job.


United States - Unemployment - Employment - Business - Job Search

Renewal of Bush tax cuts may be temporary
Many Americans could be hit with a big tax increase in the next two or three years despite President Obama's repeated promises to shield the middle class from higher rates.


Barack Obama - Jobs and Growth Tax Relief Reconciliation Act of 2003 - United States - Middle class - President of the United States

Scams: A sucker retires every minute
More seniors than ever are being lured into investment schemes that are unsuitable for people of their age or are outright swindles.


Fraud - United States - Violence and Abuse - Credit card - Insurance

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Tax-wise, Steinbrenner picked a great year to die

By dying in 2010, the billionaire and long-time New York Yankees owner's wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.