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Debt is to Surplus as Democrat is to Republican Tuesday, July 19, 2011 @ 2:37PMCOMMENTARY | While President Barack Obama's idea of a "balanced approach" to solving the debt ceiling crisis is to raise the debt limit and make the evil rich people pay even more taxes to support his increasing spending habits, Senate Republicans prefer a different approach. It's called "Cut, Cap and Balance." Cut spending, Cap the spending limit and Balance the existing budget.
DATA SNAP: US June Housing Starts Rise 14.6% Tuesday, July 19, 2011 @ 7:57AMDATA SNAP: US June Housing Starts Rise 14.6%
Stamping out Pontiac’s blight tough for officials WITH VIDEO Sunday, July 17, 2011 @ 8:12PMChildren sat at shaded picnic tables, waiting for a lunch, during a sunny summer afternoon.
International Forecaster July 2011 (#5) - Gold, Silver, Economy + More Sunday, July 17, 2011 @ 2:36PMThe following are some snippets from the most recent issue of the International Forecaster. For the full 35 page issue, please see subscription information below.
WASHINGTON STATE MAN SENTENCED TO 25 YEARS FOR ORCHESTRATING FORECLOSURE-RESCUE SCHEME Thursday, July 14, 2011 @ 8:42PMLOS ANGELES – July 14 2011 - A Tacoma, Washington man was sentenced today to 25 years in federal prison for running a scheme that defrauded owners of distressed Southern California homes by promising to prevent foreclosure through the paying off of their mortgages, but in reality doing no more than sending their lenders fake notes, totaling $55 million, that were supposedly backed by Treasury ...
JPMorgan profit rises, loan book grows Thursday, July 14, 2011 @ 6:14PMNEW YORK (Reuters) - JPMorgan Chase & Co posted a higher-than-expected second-quarter profit as it wrote off fewer bad mortgages and credit card loans.
GOP leaders split on debt ceiling Thursday, July 14, 2011 @ 6:11PMWe have a representative democracy. When did our elected officials stop representing me? The entire debt-ceiling debate is a good example [“Ingrained with politics, down to basics on debt ceiling,” News, July 14]. The people, business, the lobbyists all want the debt ceiling raised.
UPDATE 7-JPMorgan profit rises, loan book grows Thursday, July 14, 2011 @ 4:11PM* Q2 EPS $1.27 vs Wall Street view $1.21 * Profit lifted by lower costs for bad loans * CEO Dimon: Time still needed to cure mortgage problems * Shares up 1.8 percent at close (Adds sale of 30-year bond, ...
Analysis: Recent California newspaper editorials Thursday, July 14, 2011 @ 12:43AMThe Associated Press July 12 Torrance Daily Breeze: "Are state salaries too good for government?" Figures released by the state controller last week show that California state government pays more than 1,400 workers in excess of $200,000 a year, and that the highest paid work is done for the Department of Corrections and Rehabilitation — much of it by prison doctors, dentists or nurses. Last ...
Federal funds fill financing gap in border economy Wednesday, July 13, 2011 @ 10:29PMMcALLEN — In three of the past four years, the city’s largest homebuilder was a nonprofit initiative to provide housing opportunities for low-income families. Using a combination of federal funds, private investment and mortgage payments,...
Letters to the editor-07-14-2011 Wednesday, July 13, 2011 @ 8:54PMOn May 31, Mayor Dave Bieter proclaimed it “The Children’s School (TCS) Day.”
McEntee: Note to Congress — go back to the table Wednesday, July 13, 2011 @ 8:28PMMcEntee: Note to Congress — go back to the table By peg mcentee Tribune Columnist Published Jul 13, 2011 05:55PM MDT There are times when you just want to shake Congress by the lapels and say, “Grow up.” The United States is facing a default on its debts unless President Barack Obama and his Democratic backers can persuade mostly Republican members of Congress to raise the debt limit, as has ...
Guest opinion: 90-day law will help homeowners Wednesday, July 13, 2011 @ 5:38PMGov. Rick Snyder has signed Senate Bill 398 into law, extending Michigan’s 90-day, pre-foreclosure negotiation law for six months.
Housing Market Improving Despite Foreclosures Wednesday, July 13, 2011 @ 4:38PMHome sales and housing starts began turning up in early 2009, according to the State of the Nation s Housing report from the Joint Center for Housing Studies of Harvard University. First-time buyers and government help drove an increase in existing home sales, while record foreclosures continued.
Republican National Committee's ad says there are 2 million fewer jobs since Obama took office: PolitiFact Ohio Wednesday, July 13, 2011 @ 10:37AMThe RNC commercial includes a half-dozen figures to underscore its argument that President Obama's policies are killing the economy.
Money $marts: The home seller squeeze Wednesday, July 13, 2011 @ 9:22AMBuyer profligacy, banker minimal credit standards and government home ownership promotional policies combined to create the housing bubble that burst two years ago, devastating the economy. The housing sector wreckage remains a huge drag on the recovery with little that can be done to turn it around.
Update: Fitch Rates Metro Water Reclamation Dist of Greater Chicago, IL's GOs 'AAA'; Outlook Stable Tuesday, July 12, 2011 @ 10:29AMNEW YORK--(BUSINESS WIRE)--(This release updates the version sent out on July 11, 2011. This version contains updated par amounts.) Fitch Ratings assigns an 'AAA' rating to the following Metropolitan Water Reclamation District of Greater Chicago, Illinois (the district) bonds: --$30,000,000 taxable general obligation (GO) capital improvement bonds, limited tax series 2011A; --$370,000,000 GO ...
Black America vs. Obama? Tuesday, July 12, 2011 @ 2:00AM"The Disappearing Black Middle Class" ran the headline over the Chicago Sun-Times story. And the statistics from the Economic Policy Institute were indeed sobering.
Fitch Rates Metro Water Reclamation Dist of Greater Chicago, IL's GOs 'AAA'; Outlook Stable Monday, July 11, 2011 @ 11:29AMNEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns an 'AAA' rating to the following Metropolitan Water Reclamation District of Greater Chicago, Illinois (the district) bonds: --$370,000,000 taxable general obligation (GO) capital improvement bonds, limited tax series 2011A; --$30,000,000 GO capital improvement bonds, limited tax series 2011B; --$100,000,000 GO capital improvement bonds, unlimited ...
Underbanked and Unbanked Consumers in the U.S.: Successfully Targeting Consumers of Alternative Financial Services Monday, July 11, 2011 @ 3:56AMReportlinker.com announces that a new market research report is available in its catalogue:
Quelle Surprise! DoJ Pushing State AGs to Whitewash Servicing Abuses; Failure to Investigate Confirmed Monday, July 11, 2011 @ 2:34AMThe latest report by Shahien Nasirpour at Huffington Post confirms two things you've heard here and on some other sites following this sorry affair: first, that Tom MIller, Iowa attorney general who is leading the 50 state attorneys general negotiations on mortgage abuses, is a liar, and second, that any settlement will be a whitewash.
Former Gov. Kenny Guinn remembered as 'Education Governor,' passionate fighter Sunday, July 10, 2011 @ 8:10AMGov. Kenny Guinn honored Dan Coming, center, the state's first Millennium Scholar graduate, at a May, 2002 event on campus. On right is former University President John Lilley.
Housing under assault Sunday, July 10, 2011 @ 3:15AMToday, the nation faces an unprecedented assault on housing that threatens to derail nearly 100 years of national policy promoting the value of homeownership, and the public remains largely unaware of the potential catastrophe that lies ahead:
The Record: Hard times Sunday, July 10, 2011 @ 1:15AMMortgage amnesty extension is needed
Apartments, rentals heat up; housing sales decline Saturday, July 9, 2011 @ 10:11PMHome sales in the Columbus metropolitan statistical area fell nearly 7 percent through the first six months of this year, according to Multiple Listing Service data.
End Zone: A Citi slicker and Mets savior Saturday, July 9, 2011 @ 9:06PMIn a vault somewhere on the island of Manhattan, the prospective partner of the New York Mets has a secret stash of gold. He is not saying where but his hunch is that gold is a good investment, so he has made his buys and piled up the bars, a glistening,.
International Forecaster July 2011 (#3) - Gold, Silver, Economy + More Saturday, July 9, 2011 @ 3:21PMGovernment debt will be in the vicinity of $1.5 trillion this year. Ever since May 16th short-term debt has been frozen at about $14.3 trillion. Up until May 16th the year-to-debt fiscal debt was $783.135 billion.
County’s property tax shortfall to be felt locally Friday, July 8, 2011 @ 5:50PMSacramento County Assessor Kathleen Kelleher announced earlier this week that a nearly $40 million shortfall in property taxes could have an impact on revenues for local agencies for the 2011-12 fiscal year that started on July 1.
Perry's "Texas Miracle" Isn't All It's Cracked Up To Be Friday, July 8, 2011 @ 11:15AMTexas Gov. Rick Perry’s shadow run for the White House rests on expansive claims that the Lone Star State’s economy has done better than the rest of the country through the Great Recession.
Pike Builds An Empire—& Rebuilds A City Friday, July 8, 2011 @ 10:31AMNew Haven’s busiest real-estate developers looked out from a downtown rooftop onto a city they’re remaking at breakneck speed, from subsidized housing to penthouse duplexes, with a fresh million infusion. No wonder “Pike International” signs have become practically as visible as stop signs.
Dutchess finances starting to look up, but finance commissioner urges caution Friday, July 8, 2011 @ 5:31AMPOUGHKEEPSIE – Dutchess County government spent less than it budgeted last year and its unappropriated fund balance was untapped as a result. Sales tax revenues are also up so far this year by eight percent and foreclosures appear to be down.
A Democrat loses his enthusiasm Thursday, July 7, 2011 @ 7:21PMA Democrat loses his enthusiasm
Editorial: Oakland example of ‘shared sacrifice’ Thursday, July 7, 2011 @ 5:54PMIf our leaders in Lansing need an example of true “shared sacrificing” in these tight budgetary times, they need only look to Oakland County.
Jon Huntsman’s Clintonian dodge on government bailouts Thursday, July 7, 2011 @ 2:16PMQuestioned by a New Hampshire voter Monday about the government’s $700 billion bailout for Wall Street, President Barack Obama’s former Chinese Ambassador Jon Huntsman dodged the question in a style much like that of former President Bill Clinton.
Local home sales, prices tumble in June Thursday, July 7, 2011 @ 1:50PMLast month was another downer for the Colorado Springs-area housing market.New and existing single-family home sales totaled 872 in June, a 4.5 percent decline from the same month last year, according to
Eastern Connecticut single-family home sales down 30 percent Thursday, July 7, 2011 @ 11:23AMSales in the largest segment of the real estate market in New London and Windham counties fell 30 percent during the three months ended June 30 compared with a year earlier, as the end of a government tax credit and weak job conditions curtailed purchasing impulses.
Property values decrease but assessor optimistic Thursday, July 7, 2011 @ 10:31AMProperty tax receipts continue to decline in Yolo County, but Assessor Joel Butler remains hopeful home values will start increasing in the near future. Butler released the 2011-12 tax roll on Tuesday showing a continuing decline in property values.
New Program May Make It Easier To Buy Foreclosed Homes Wednesday, July 6, 2011 @ 12:24PMThe incentives cut 3.5% off closing costs and encourage agents to show foreclosures.
Iincreasing problems with reverse mortgages Wednesday, July 6, 2011 @ 11:47AMReverse mortgages, which allow older adults to convert some of the equity in their homes into cash, have been a lifeline for many house-rich, cash-poor seniors struggling to get by. But now, with a growing number of reverse mortgages falling into default, these retirees could end up losing their homes. read more
First Thoughts: Six things we've learned in the debt talks Wednesday, July 6, 2011 @ 8:30AMIn advance of Thursday’s White House meeting to resolve the stalemate in the debt talks, we've learned that Obama and Speaker Boehner share a goal to prove they can get a 'big' deal done.
'US seeks to avoid debt default' Wednesday, July 6, 2011 @ 5:10AMUS President Barack Obama has called Democratic and Republican lawmakers to reach an agreement over the country's budget deficit, after they opposed a short-term deal to raise the nation's debt limit.
California recovery depends on housing industry Tuesday, July 5, 2011 @ 11:57AMThere's one big reason why foreclosure reforms that strongly encourage banks to redo loans for "underwater" homeowners are a must for California, and soon: This state's overall economy and employment levels simply cannot recover to pre-recession status until the foreclosure crisis ends. And the tide of foreclosures has shown no sign of abating lately, particularly in previous high-growth areas ...
Merkley, Udall: Leave Afghanistan Tuesday, July 5, 2011 @ 9:38AMTwo Senate Democrats, along with Republican Rand Paul, are calling for the removal of all U.S. combat forces from Afghanistan by the end of 2012, arguing that America would be “more secure and stronger economically” with a quicker troop drawdown.
Letters Monday, July 4, 2011 @ 2:35AMI am angry with politicians attacking President Barack Obama for 'his' recession. These people's historical memory doesn't even include the last two decades. I remember that President Bill Clinton left ...
Let’s Not Linger in Afghanistan Sunday, July 3, 2011 @ 10:50PMWe’ve achieved our objectives, so our troops can come home sooner.
‘OUR Marysville’ calls on bank to support local schools Wednesday, June 29, 2011 @ 12:16PMArea protestors once again took to the streets and sidewalks in front of a Marysville branch of a bank chain to object to tax practices that they believe unfairly benefit such banks. Members of “OUR Marysville” — with “OUR” standing for “Organization United for Reform” — marched in front of the closed doors of the Marysville branch of the JPMorgan Chase Bank on June 24, calling for Chase to use ...
Fitch Affirms Cape Coral, FL's Outstanding Special Assessment Debt; Outlook Stable Wednesday, June 29, 2011 @ 11:29AMNEW YORK--(BUSINESS WIRE)--Fitch Ratings takes the following rating action on Cape Coral, FL's (the city) revenue bonds as part of its continuous surveillance effort: --Approximately $149.8 million in wastewater and irrigation water refunding assessment bonds and utility improvement assessment bonds, series 2005 (Southwest 2), 2006 (Southeast 1), 2007 (Southwest 4), and 2007 (Southwest 5 and ...
U.S. economy on slow-growth road, IMF says Wednesday, June 29, 2011 @ 11:12AMInflation prospect’s downplayed as International Monetary Fund staff pegs GDP growth at sub-3% for both this year and next — and puts in a plug for Congress and the White House to raise the U.S. debt ceiling forthwith.
Consumers’ confidence down in June on job worries Wednesday, June 29, 2011 @ 6:15AMNEW YORK — If you’re a U.S. consumer, why would you be confident?
Consumer confidence drops in June Tuesday, June 28, 2011 @ 9:04PMFollowing a string of bad news that threatens the painfully slow economic recovery, consumer confidence fell to a seven-month low in June on continuing worries about high unemployment and stagnating wages, according to a report released Tuesday by a private research group.