MIDDAY UPDATE: Looking ahead to 2011
Today we spoke to Jill Schlesinger, as we look forward to 2011. Stock prices are ending the year at their highest level since the collapse of Lehman Brothers in 2008. Markets both here and in Europe have enjoyed a powerful pre-Christmas rally. Schlesinger spoke about the need for jobs, and the future of foreclosuregate.
Settlement advance companies take a gamble on lawsuits, advancing people money for a lawsuit and not asking anything in return if the person loses. But the advance money comes with high interest rates that violate Colorado's limits, and so the attorney general is suing.
Pharmaceutical companies paid billions in fines last year for off-label marketing, when drugs are promoted for a use that hasn't been approved by the FDA. But the large fines haven't stopped some companies from continuing the practice.