Interesting Personal Debt News Links (March 21, 2009)

March 21, 2009

* Fear Itself (Columbia Daily Spectator)

Ive noticed a sort of complacency about the 21st century. Were in the midst of one of the worst economic disasters in recent history, yet the world around us looks pretty much the same. Financial despair isnt really visible, and when we walk out onto Broadway, things look more or less the way they did a year ago. To many students, the events happening on Wall Street are still, on a superfici…

* Outrage goes over the top (Daily Progress)

This pop-culture phenomenon seems to be more than an over-night fad. It now appears to be intense and relentless enough to have gained a name: octuplet outrage.

* Sickening mess (Tulsa World)

Our current financial mess is sickening. The crooks who are the most to blame for the problem are the ones who benefit most from the “solution.” What ever happened to personal responsibility? They have no shame.

* Civil servant tried to kill wife to stop divorce losses (Sarah Knapton, Telegraph)

Martin Hewlett, 45, left Anne Dreisler for dead after knocking her from her bicycle near their home in Worthing, West Sussex on Feburary 29 last year.

* Mortgage Mess Questions (Chicago Sun-Times)

I understand most of the blame for the current state of the real estate market is the result of banks approving buyers that had no business purchasing a home or did not fully understand the terms of the type of loan they were getting into. However, why does no one talk about the appraisers? They are the ones who inflated housing prices so buyer’s could take out home equity loans or not need as …

* Promises of increased fraud investigation vanish as mortgage scams flourish (San Francisco Examiner)

As Ponzi after Ponzi is exposed to the cold light of the media, regulator after regulator “vows” to fight financial fraud.

* RAMSTACK: Sheriff vs. mortgage banker (Washington Times)

The nation’s dilemma over banks trying to collect debt and people trying to avoid losing their homes played out last week before the Senate Judiciary Committee.

* Private food inspections 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.

* Jumbo Prime Loans Going Bad at a Rapid Rate (US News & World Report)

Foreclosure starts continue to increase across product types over the past several months in spite of moratoria and mitigation.

* Dont blame Dems for mortgage mess (Kansas City Star)

Regarding the letter Blame Democrats for mortgage mess (3/17), I refer readers to the article Freddie Mac paid for stealth effort. (10/20/08, A-6). The subtitle says it all: Mortgage giants money arranged for a GOP consulting firm to kill a regulatory bill.


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