Politics

The $18 billion foreclosure settlement announced last month for struggling California homeowners could take years to materialize. The nation's five largest mortgage servicers have three years to deliver mortgage relief to troubled borrowers, with no penalties for noncompliance until 2015...

California's $9.2 billion budget deficit could grow, due to a proposed change to the investment forecast of CalPERS, California’s pension fund. The rate has not been changed since 2003. In 2010, CalPERS return on investment was over 20%, but it was 1.1% in 2011. If CalPERS decides to adjust its investment forecast from 7.75% to 7.25%, the cost of CalPERS could jump up by $425 million come July 1…

CNN may buy Mashable for $200 million. Mashable covers and aggregates news on social media and the Internet at large. Last August CNN bought Zite, a news app for the iPad...