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Billionaire Stanford jailed in alleged $7B fraud 19 Jun 09, 21:26 ET AP - Brash Texas billionaire R. Allen Stanford was indicted and jailed Friday on charges his international banking empire was really just a Ponzi scheme built on lies, bluster and bribery. more Stanford indicted in massive U.S. fraud case 19 Jun 09, 17:45 ET Reuters - Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate $7 billion pyramid scheme to bilk investors, U.S. Justice Department officials said on Friday. more Airlines add fees, and some fees on top of fees 19 Jun 09, 14:52 ET AP - As if charging $15 to check a bag weren't enough, two airlines are asking for $5 more beginning this summer if you pay at the check-in counter - a fee on top of a fee. more Report: Some bailout banks hold on to jet perks 19 Jun 09, 14:42 ET AP - A number of executives of banks that received federal bailout money have continued to use corporate jets for personal use despite controversy over such perks, according to a report Friday. more House targets Fed in Bank of America investigation 19 Jun 09, 14:23 ET AP - A House panel has subpoenaed documents that lawmakers say could shed new light on Federal Reserve Chairman Ben Bernanke's role in Bank of America's acquisition of Merrill Lynch. more Illegal Song Sharing Costs Single Mom $1.92 Million 19 Jun 09, 12:14 ET NewsFactor - In what turned out to be a nightmare for the defendant, a federal jury on Thursday ruled that Jammie Thomas-Rasset willfully violated the copyrights on 24 songs. Record companies were awarded $80,000 per song, for a total of $1.92 million. more Obama regulatory plan hits brokers: report 19 Jun 09, 10:52 ET Reuters - The Obama administration's proposed financial regulatory revamp could upend Wall Street brokerages by compelling brokers to put their clients' interests ahead of their own, The Wall Street Journal said on Friday more U.S. homes recovery distressingly slow: Reuters/UMich 19 Jun 09, 10:11 ET Reuters - A "distressingly slow" U.S. housing recovery, with inflation-adjusted home values expected to decline over the next five years, makes it unlikely that housing wealth will drive consumer spending in the next decade, a Reuters/University of Michigan survey found. more Merced: Ghost Town, USA 19 Jun 09, 08:08 ET BusinessWeek Online - The housing crisis is creating ghost towns of once-bustling communities like Merced. In largely abandoned neighborhoods, paved sidewalks and driveways lead to empty lots strewn with utility coils. Unfinished frames with rotting rafters and rusted hinges sit alongside occupied homes. Roughly 40% of the homes in Merced are considered distressed, meaning owners are behind on their mortgage payments or can't make them at all. The toll is expected to rise, even though California extended its moratorium on foreclosures for another 90 days. more Bailed-out banks' CEOs used jets for personal use: report 19 Jun 09, 05:18 ET Reuters - Chief executives of some banks that received federal money, including Bank of America Corp, Morgan Stanley and Regions Financial Corp, used company jets for their personal use, the Wall Street Journal reported on its website. more

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