Interesting Personal Debt News Links (March 20, 2009)

March 20, 2009

* Leave the deduction (Write A Letter)

It is not embedded in the nation’s founding documents. But to generations of Americans, the mortgage interest tax deduction has been viewed as all but a fundamental right.

* Battered Housing Market Gets Booster Shot (CBS News)

Battered Housing Market Gets Booster Shot CBS Evening News: Will Fed’s Cash Influx And Record-Low Mortgage Rates Give Industry A Makeover?

* Loan shark who raped debtor sentenced (ITN Online)

A loan shark who raped an impoverished customer and threatened to petrol-bomb another woman’s house has been jailed for seven years.

* Private inspections of food companies seen as weak (Ricardo Alonso-Zaldivar)

WASHINGTON – The mortgage meltdown exposed the weakness of self-regulation in financial markets. Now the salmonella outbreak is doing the same for the food industry.

* WASHINGTON (AP) Rates on 30-year mortgages plunged this week to the lowest level since

WASHINGTON � Rates on 30-year mortgages plunged this week to the lowest level since January, and may fall further after the Federal Reserve launched a new effort to prop up the flailing housing market.

* Fed action sends mortgage rates below 5% (Mary Ellen Podmolik, Chicago Tribune)

Less than a day after the Federal Reserve said it would double its purchases of mortgage debt, fixed rates on conforming 30-year mortgages fell well below 5 percent, and there’s thought rates may stay there for a while.

* Animals in the News: Parrots, cats and a cruelty law (Donna J. Miller, Plain Dealer)

Dogs and cats aren’t the only pets being shed by families wrangling with rising prices, unemployment or foreclosure.

* Daily backgrounder – March 20 (Akron Beacon Journal)

Stocks traded lower Thursday as investors worried about the effects of the Federal Reserve’s plans to pump more than $1 trillion into the financial system.

* The Hazards of an Extended Mind (Greensburg Daily News)

Perhaps you have never heard of the phrase extended mind. It refers to the fact that a person will trust information to be kept somewhere other than inside ones head. Here is how it works.

* NS?I blamed by banks for poaching savers’ deposits (Harry Wallop, Telegraph)

NS&I, the Government-backed savings institution, has become very popular over the last year, with savers withdrawing billions of pounds of their savings from banks and building societies in search of a safer home.

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