Archive for the 'Collapse' Category
Homeowners Who Received Mortgage Modifications Are Defaulting Again
December 10th, 2008Via: OC Register: In my previous post, I wrote that more than half of homeowners who got a change to their mortgage to make it more affordable, started missing payments again within six months of the loan modification, according to John Dugan, the nation’s Comptroller of the Currency. Those were for loans modified in the […]
New Cars Pile Up at Ports and Parking Lots Around the United States
December 9th, 2008The pace is quickening now. Via: Reuters: From pricey luxury sedans to popular hybrid cars, automobiles made overseas are stacking up at ports and parking lots around the United States as supplies far outstrip demand amid the nation’s worst auto market in more than 25 years. At the Long Beach port near Los Angeles, Toyota […]
Illinois Governor Rod Blagojevich Suspends State Business with Bank of America and Is Then Promptly Arrested by the FBI on Corruption Charges
December 9th, 2008Less than 24 hours later… Whamo. I’m not saying that the guy isn’t a crook. He could be as crooked as the day is long. The timing of his arrest, however, is priceless. Update: 76-Page Federal Indictment; Conspiracy to Commit Mail and Wire Fraud and Solicitation of Bribery: Illinois Gov. Rod Blagojevich was arrested on […]
South Australia to Buy ‘Critical Needs’ Water
December 8th, 2008IL suggested this story and wrote: Uh… no water. Just a bit of an emergency, no? Just got back from there and it is dry, dry, dry. And to top it off, most of the populace seem oblivious. I mean they know it doesn’t rain much and they’re in the driest state in Aust (I […]
Pollution Causing Feminisation of Males Across Multiple Species
December 8th, 2008Via: Independent: The male gender is in danger, with incalculable consequences for both humans and wildlife, startling scientific research from around the world reveals. The research – to be detailed tomorrow in the most comprehensive report yet published – shows that a host of common chemicals is feminising males of every class of vertebrate animals, […]
Riots Across Greece
December 8th, 2008Via: Reuters: Greece braced for a third day of demonstrations on Monday after the fatal shooting by police of a teenager triggered underlying anger over the Conservative government’s economic policies and the worst rioting in decades. Thousands clashed with police and rampaged through Athens and other cities this weekend, destroying scores of businesses, injuring dozens […]
Angry Laid-Off Workers Occupy Factory in Chicago
December 7th, 2008Via: AP: Workers who got three days’ notice their factory was shutting its doors have occupied the building and say they won’t go home without assurances they’ll get severance and vacation pay they say they are owed. About 200 union workers occupied the Republic Windows and Doors plant in shifts Saturday while union leaders outside […]
New Record: 10 Percent of U.S. Home Loans At Least One Month Late in Payments or in Foreclosure
December 5th, 2008Via: AP: A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy. The Mortgage Bankers Association said Friday the percentage of loans at least […]
Employers Cut 533K Jobs in November, Most in 34 Years
December 5th, 2008Via: AP: Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more […]
California May Pay With IOUs for Second Time Since Depression
December 5th, 2008Via: Bloomberg: California, the world’s eighth largest economy, may pay vendors with IOUs for only the second time since the Great Depression, State Finance Director Mike Genest said. In a letter to legislative leaders Dec. 2, Genest said the state “will begin delaying payments or paying in registered warrants in March” unless an $11.2 billion […]
