Interesting Personal Debt News Links (February 16, 2009)

February 16, 2009

* Asian markets fall as Japan’s recession deepens (Jeremiah Marquez)

Most Asian stock markets fell Monday, as new figures showed Japan’s economy contracted at its quickest pace in 35 years and Group of Seven finance ministers warned the global slump will drag on through most of the year. European shares opened lower.Japan’s worse-than-expected fourth quarter GDP numbers were a sobering reminder of the toll on Asia’s export-driven economies as world demand…

* World markets fall as Japan’s recession deepens (Louise Watt)

LONDON | World stock markets fell Monday, after new figures showed Japan s economy contracted at its quickest pace in 35 years and a weekend summit of Group of Seven finance ministers provided few concrete proposals to counter the economic crisis. Drops in Europe followed losses in Asia, but trading volumes were subdued as U.S. markets remained closed for Presidents Day. Britain s…

* Personal bankruptcies in Conn. reported up 66 percent

NEW LONDON, Conn. – A new report says Connecticut’s personal bankruptcy filings increased by 66 percent last year over 2007 figures.

* Answer Desk: Homeowner bailout? (John W. Schoen, Newsweek)

Since the mortgage mess began unfolding two years ago, homeowners losing their homes have been asking: Can nothing be done to stop this? Now, with the government spending or committing trillions of dollars to rescue the financial system, hundreds of readers are asking: Where’s my bailout?

* Forex failure continues in Poland (The Financial Times)

Its getting bleaker by the minute in Eastern Europe. In case you didnt catch the latest from the Telegraphs Ambrose Evans-Pritchard, he warned at the weekend how a growing crisis in Eastern Europe could cause nothing less than a total collapse in the West, or as he put it: If one spark jumps across the euro zone line, we will have global systemic crisis within days.

* Fraud trial enters week two (Greenville News)

LEXINGTON — A prosecution witness today described former HomeGold chairman Jack Sterling as a “wolf-in-sheep’s clothing” for his role in the company’s operations after it merged with a firm owned by Ronald J. Sheppard.

* World Of Trouble (CBS News)

(CBS) How did the mortgage industry destroy itself and set off an economic collapse that ruined the finances of millions of Americans? Executives tend to hold themselves blameless, saying that no one could have seen the disaster coming.

* Marion Twp. woman charged with tax fraud (Beaver County Times)

PITTSBURGH A charge of filing false income tax returns has been filed against Ann Marie Tonkovich, 33, of 141 Stern Manor Drive, Marion Township.

* Retired and struggling with debt (S. Florida Sun-Sentinel)

Some retirees are navigating the credit crunch with one hand tied behind their backs, loaded with debt while stuck on a fixed income.

* Fannie, Freddie suspend foreclosure sales (Boston Business Journal)

Fannie Mae and Freddie Mac have joined the growing list of institutions agreeing to suspend foreclosures.

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