Interesting Personal Debt News Links (April 24, 2009)

April 24, 2009

* Inland foreclosures surge in March after law’s delays expire (Leslie Berkman, Press-Enterprise)

Foreclosure activity soared to a record high in Riverside and San Bernardino counties last month, as lenders sent notices of default, the first step in the foreclosure process, after delays from moratoriums and a California law that required them to contact borrowers and try to find an alternative.

* Citigroup could cut 70,000 jobs; India, Mex, Brazil loans sour (Tom Belden, Philadelphia Inquirer)

Citigroup CEO Vikram Pandit tells staff he wants to cut 20% of 350,000 worldwide workforce as business slows. Citi announcement

* CEOs Should Stop Spinning, Start Thinking (Carol Hymowitz, Wall Street Journal)

Forget the charisma and the polished speeches. Those may have been the qualities top executives were judged on this past year, when every other chief executive was publishing a book, appearing on prime-time television or socializing on Facebook.com.

* Economy falters as U.S. citizens turn frugal (Raymond Billy, Daily Star)

Conservative commentators were quick to praise President Bush for the economic expansion of 2002 to 2007, but now they decry the practices that spawned that growth.

* Grand Tour of Europe? Nope, Grand Tour of Colleges (Beth. J. Harpaz, McDowell News)

Forget the Grand Tour of Europe. If your kid is in high school, your next family vacation � in fact, your next couple of family vacations � may well be the Grand Tour of Colleges.

* Financial illiteracy threatens future way of life (Scott Ploof, Daily Star)

The number of people who do not even understand the concepts of inflation, compounding interest, the real costs of credit card debt, the time value of money and the fundamental basics of the economy is rather alarming.

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