Interesting Personal Debt News Links (April 02, 2009)

April 2, 2009

* UK mortgage lending at �1200bn ‘unmanageable’ claims Cap Gemini banking report (Philip Aldrick, The Daily Telegraph)

According to the annual world retail banking report from Cap Gemini, Unicredit and EFMA, mortgage lending has “exceeded reasonable limits” with the volume of debt running at 86pc of GDP or about �1,200bn. The report recommended 60pc as a sustainable upper level.

* Plan to Let Judges Alter Loans Stalls (Elizabeth Williamson, Wall Street Journal)

Opposition from the banking industry and moderate senators of both parties has stalled a proposal to let judges modify mortgage terms in bankruptcy court.

* Attorney General: Health issues a top complaint in NC (Clay Barbour, Hickory Daily Record)

For the fifth year in a row, health care topped the state’s hit-list for complaints filed with the N.C. attorney general.

* Cuomo Attracts Critics, Admirers (Amir Efrati, Wall Street Journal)

New York Attorney General Andrew Cuomo recently told a gathering of business people that he had phoned a friend about going fishing. The friend’s attorney returned the call, asking why Mr. Cuomo was on a fishing expedition into his client’s activities.

* Monica Yant Kinney: The human face on a toxic asset (Monica Yant Kinney, Philadelphia Inquirer)

The heavily accented woman on the phone was panicky. She’d been trying to reach a Cherry Hill company called Hope Now Modifications.


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