Emily Friedlander raises many interesting points.

In an image that echoes scenes of the Great Depression, a Texas bank has just finished up demolishing 16 new and partially built houses it acquired in Southern California through foreclosure. The bank determined that wrecking the homes was more cost-effective than finishing and selling them.

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A short and simple article by Benny L. Kass at San Francisco Chronicle.

If I let the property go into foreclosure, can/will the bank that gave me the mortgage try to get at my other assets (equity in my home, stocks, etc.)?

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A short article by Sean Farrell.

Northern Rock’s bad debts jumped almost threefold last year as the slowing economy took its toll on the nationalised bank’s controversial Together loans.

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Here is today’s story from The Financial Times on Taxpayer-owned.

Northern Rock, the taxpayer-owned bank, has been accused of stalling on payouts to customers missold payment protection insurance (PPI).

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Here is today’s article from Telegraph on Synchronised.

Explaining its decision the Bank said “the global economy is in the throes of a severe and synchronised downturn”. It said the UK was facing a similar rate of decline in the early part of this year as it faced in the fourth quarter of 2008, when the economy shrank by 1.5pc.

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