In the old days before computers Wall Street would have come to a standstill during winter storms like we are seeing in the east. But today trading goes on even if many people are working from home. (CNBC)
Subprime mortgages are back !!! Wells Fargo, the largest US mortgage lender, is now offering subprime loans as it tries to stem its decline in revenues and mortgage lending volume. Banks are struggling and cutting as the refinancing boom comes to an end. Bank of America is cutting 450 west coast mortgage jobs, 10 of which will be in Oregon. (Reuters)
In a victory for free speech in business, the owner of Cast Iron Farms in McMinnville won a lawsuit against the Oregon Department of Agriculture saying their ban on her advertising the sale of unpasteurized milk was unconstitutional. She sells her milk for $14 a gallon. (OregonLive)
It could change an industry, which in Oregon, still operates like the Prohibition era of the 1920’s. Fred Meyer president Lynn Gust has filed an Oregon ballot initiative that would end the state’s monopoly sale of hard liquor. Signature gathering could start next month for the November ballot. (Associated Press)
Join us Saturday at 10 for Financial Focus Radio when Don Klipeness of Health Insurance Strategies will be our guest to talk about making sure you have signed up for Obama Care.