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On Wednesday, a Facebook IPO was filed to raise $5 billion, due to the company’s significant earnings in 2011–in the ballpark of $1 billion on sales of $3.7 billion–and years of profits. If the company meets its fundraising target, it would be the largest internet initial public offering since Google Inc. raised $1.9 billion in 2004.
Facebook Stock Estimated Worth 
President Barack Obama is set to announce a new mortgage refinance program on Wednesday that aims to help borrowers take advantage of historically low interest rates. The program is said to expand on previous attempts at refinancing for troubled borrowers and will grant more homeowners eligibility.
Obama Refinance Program to Help Troubled Homeowners
Some workers with 401(k) plan accounts might be able to look forward to reductions in their plan fees thanks to new federal disclosure rules. In addition to increased fee visibility, the new disclosure rules are expected to allow companies to provide their workers with a vast selection of investment options.
401(k) Plan Disclosure Rules to Clarify Costs
Consumer spending showed no real signs of growth in December despite it being a major month for holiday shopping, according to a new report from the Commerce Department. Instead, the report showed, consumers used a significant increase in their incomes to restore their depleted savings accounts.
Consumer Spending Unchanged
Russell Simmons has announced plans to slash several fees on his well-publicized RushCard in order to accommodate the rapidly growing demand for his product. But many say his decision to reduce fees on his prepaid debit card had more to do with increased competition after the introduction of Suze Orman’s prepaid product.
Ford reported that 2011 was the second most profitable year in its 109-year history thanks to help from a tax credit it acquired from previous losses. The automaker said now that its earnings have skyrocketed, it plans to increase its profit shares with its union workers.
Ford Reports Best Annual Earnings Since 1998
The sale of homes in foreclosure was still an issue for the housing market in the third quarter of 2011, according to a new report from RealtyTrac. President Barack Obama announced plans to develop a housing task force that will tackle improper mortgage loan bundling, one of the issues that helped the financial system crumble in 2008.
Foreclosure Sales Comprise 20 Percent of Sales
A new home refinance program was proposed during President Barack Obama‘s State of the Union address on Tuesday night that would impact borrowers with privately-held mortgages. The program was among many economic topics addressed in the speech, including income and tax equality, payroll tax cuts and the need for a united Congress.
Home Refinance Program to Lower Interest Rates
President Barack Obama‘s State of the Union address is set to be delivered for the third, and possibly final, time tonight. Many predict his speech will cover a myriad of topics, but primarily he is expected to discuss issues surrounding the economy while also mentioning his plans if he is to win the 2012 presidential election.
State of the Union Address and Economic Issues
The number of foreclosures throughout the U.S. has been extremely high over the past few years, but according to new data generated for CNNMoney by RealtyTrac, the majority of zip codes hit hardest are situated in western states. The report also found that, in addition to a suffering economy, the significant increase in REO homes sold has left the housing sector in peril, making it difficult for the industry to bounce back.