Marketplace Morning Report for Tuesday, March 5, 2013
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Perhaps no state will feel the sequester more than Virginia, which relies heavily on federal spending because of its proximity to the nation's capital and its role as the home of the military industrial complex. Virginia Republican Governor Bob McDonnell shares his expectations for the months ahead. As China's National People's Congress gets underway, the current Premier of China, Wen Jiabao, has announced an ambitious 7.5 percent economic growth target for the country. And while we're talking China, incoming President Xi Jinping has proposed a new food and drug safety agency.
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Governor of Virginia Bob McDonnell shares his expectations for the months ahead as the sequester takes effect. What's got the Dow into record territory? And lost your Metrocard? That'll cost you a dollar.
Posted In: Fannie Mae, Freddie Mac, mortgage-backed securities, mortgage
The regulator overseeing Fannie Mae and Freddie Mac has announced an idea to reform the mortgage giants. It involves starting a joint venture to bundle mortgages into securities that people can invest in.
Posted In: New York City, New York, MTA, public transportation
This week, New York subway and bus riders will have to hold onto their Metrocards or face a $1 surcharge for a new one. NYC's transit authority says it costs $10 million a year to produce the cards.
Posted In: sequester, IRS, Taxes
The sequester could force the IRS to furlough workers, including those who investigate tax fraud. Just to be safe, the IRS hopes to delay any furloughs until after tax season.
Posted In: Cellphones, Obama, Library of Congress
Copyright authorities in Washington have recently started to take a dim view of people who want to switch their cellphone from one carrier to another. But now, phone 'unlockers' are getting some support from the White House.
Posted In: sequester, Virginia, defense
Virginia's Republican Governor, Bob McDonnell, says he supports federal spending cuts, including to defense spending, but that the sequester isn't balanced.