Interesting Personal Debt News Links (March 26, 2009)

March 26, 2009

* DA’s Office Seeking More Victims in Foreclosure Scam (H. Hughes, KNSD)

The San Diego District Attorney’s office is looking for more victims of the widespread foreclosure scam.

* Diversions and Disillusions reign as AIG saga unfolds (Sitafa Harden, Digital Journal)

In the court of public opinion Wall Street and all the banking institutions who dealt in questionable investments have been found guilty.

* Tougher penalties aimed at appraisal fraud (Margaret Jackson, Denver Post)

state bill that increases the penalties for violating real estate appraisal laws has cleared the House and awaits Senate action.

* February price uptick eases deflation risk (Martin Crutsinger, Denver Post)

Consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.

* Gordon Brown has still not used the word sorry over the recession (Hugo Dixon, The Daily Telegraph)

But the UK prime minister has said he takes full responsibility for his role in the economic crisis. That counts as an apology of sorts.

* If Stocks Are in Turmoil, Blame the Feds (Declan Mc Cullagh, CBS News)

If Stocks Are in Turmoil, Blame the Feds Investors Fear “Regime Uncertainty,” Writes Declan McCullagh

* E.J. Dionne: Phony deficit hawks refuse to admit truth about taxes (E.J. Dionne Jr, Houston Chronicle)

The debate on the budget is phony, the howling on deficits a charade. Few politicians want to acknowledge that if you really are concerned about long-term deficits, you have to support tax increases.

* Buffett letter to shareholders recalls warning note on housing (Emily.Flitter, American Banker)

Warren Buffett� s annual letter to shareholders Saturday was grim all around, but one passage in particular highlighted the depths of denial into which some mortgage lenders had to retreat in order to participate in the housing boom: A miniature version of the housing crisis occurred just a few years before the real one began.

* Regulators should be calling the lies (Emily.Flitter, American Banker)

We� ve stayed out of the predominantly useless buzz over the recent battle between the financial news network CNBC and The Daily Show host Jon Stewart, but now it� s time to weigh in. Our verdict: Regulators should watch and learn.

* Failed bailout causes fallout (David Robinson, Evening Telegram)

Congress on Monday voted 228 yes to 205 no rejecting President George W. Bushs $700 billion bailout plan to buy up Wall Street debt and bring confidence back to the financial industry, reported the AP.


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