From CNNMoney.com
The FDIC says banks in Georgia, Minnesota and California were shuttered by state regulators.
NEW YORK (CNNMoney.com) — Local banks in Georgia, Minnesota and California were closed Friday by state regulators, bringing the total number of failed banks this year to 45, according to the Federal Deposit Insurance Corporation.
The financial crisis has taken a heavy [...]

From CNN Money:  Sinking home prices and first-time tax credit draw in buyers.
NEW YORK (CNNMoney.com) — Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.
The National Association of Realtors reported that existing home sales ticked up 2.4% last month to a seasonally adjusted annual rate [...]

From CNN Money
Some experts point to stabilization in the housing and job markets as signs the recession has ended. Others continue to see weeds – not green shoots.
NEW YORK (CNNMoney.com) — The recession began in December 2007. Did it end sometime this spring?
It’s a provocative question that’s tough to answer. It’s tempting to say the [...]

From CNN Money
Builders take out more permits to build than expected; still trail prior years badly.
NEW YORK (CNNMoney.com) — The nation’s builders boosted their production in May, starting new housing units at an annualized rate of 532,000, up 17.2% from the revised estimate of 454,000 in April.
The data release, a monthly report from the Census [...]

From CNN Money:
Worries that the economy is not likely to recover as soon as had been hoped drag on markets. Dow, S&P 500 and Nasdaq drop over 2%.
NEW YORK (CNNMoney.com) — Stocks slumped Monday afternoon as weaker oil prices and more geopolitical unrest raised worries that the recession may not be waning as soon as [...]

From CNN Money:
The president is set to announce the details of a massive reorganization of financial market oversight, according to a published report.
NEW YORK (CNNMoney.com) — President Barack Obama is set to release on Wednesday the details of his proposed overhaul to how financial markets are regulated, according to a report published in The Wall [...]

The agency delays the launch of a program to get bad loans off banks’ books, citing their capital-raising success.
NEW YORK (Fortune) — Regulators shelved a controversial plan that aimed to cleanse banks’ balance sheets of toxic assets.
The Federal Deposit Insurance Corp. said Wednesday it has postponed the initial sale of bank assets under its Legacy [...]

HUD tweaked stimulus tax incentive so first-time home buyers get instant assistance with down payment and closing costs.
NEW YORK (CNNMoney.com) — First-time homebuyers will now have access to quick cash to help them with their down payments.
On Friday, the U.S. Department of Housing and Urban Development (HUD) announced that first-time homebuyers using FHA-approved lenders can [...]

WASHINGTON – Pending U.S. home sales in April posted the biggest monthly jump in nearly eight years, a sign that home sales are finally coming to life after a long and painful slump.
The National Association of Realtors says its seasonally adjusted index of sales contracts signed in April rose 6.7 percent to 90.3. Economists surveyed [...]