Foreclosures rise by 12% as housing slump dents hopes of economic recovery

http://www.dailymail.co.uk/news/article-2159410/U-S-foreclosures-jump-May-creating-troubling-sign-recovery-housing-crisis.html By Daily Mail Reporter PUBLISHED: 12:48 EST, 14 June 2012 | UPDATED: 14:23 EST, 14 June 2012 Foreclosure proceedings against homeowners rose by 12 per cent in May, setting the stage for increases in home repossessions and short sales – scenarios that could further weigh down home values in coming months. Default or scheduled-home-auction […]

Drivers who fail to pay fines face losing access to gas and water as town resorts to desperate measures over budget crisis

http://www.dailymail.co.uk/news/article-2136839/New-Mexico-town-cut-gas-water-drivers-skip-traffic-fines.html By Daily Mail Reporter PUBLISHED: 20:54 EST, 28 April 2012 | UPDATED: 00:47 EST, 29 April 2012 An industrious town in New Mexico is upping the ante against traffic violators, threatening to shut off the utilities of those who don’t pay their fines. Las Cruces’ unpopular decision came after they installed cameras at intersections […]

More wives bring home the bacon as their husbands suffer from the ‘mancession’

http://www.dailymail.co.uk/news/article-2111605/More-wives-bring-home-bacon-husbands-suffer-mancession.html By Daily Mail Reporter Last updated at 4:19 PM on 7th March 2012 The number of wives earning more than their husbands has been increasing for years with the pace accelerated further by the recession, according to a survey. Nearly 38 percent of wives earned more than their husbands in 2009, according to the […]

Nearly HALF of U.S. households live just one crisis from poverty

http://www.dailymail.co.uk/news/article-2094453/Nearly-HALF-U-S-households-live-just-crisis-poverty.html By Daily Mail Reporter Last updated at 6:59 PM on 31st January 2012 Nearly half of U.S. households are just one piece of bad luck – such as a job redundancy or a medical emergency – from poverty, it has emerged. A staggering 43 per cent are ‘liquid-asset poor’, meaning that they are above […]

Insight: Top Justice officials connected to mortgage banks

http://www.reuters.com/article/2012/01/20/us-usa-holder-mortgage-idUSTRE80J0PH20120120 By Scot J. Paltrow Fri Jan 20, 2012 9:31am EST (Reuters) – U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division, were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, […]

Revealed: How deluded Bernanke thought economy could make ‘soft landing’ just months before the credit crunch

http://www.dailymail.co.uk/news/article-2086491/Revealed-How-deluded-Bernanke-thought-economy-make-soft-landing-just-months-credit-crunch.html Housing market faced ‘at worst an orderly decline’, said Federal Reserve chairman in 2006 Timothy Geithner denied risk of ‘collateral damage By Daily Mail Reporter Last updated at 10:51 PM on 13th January 2012 Ben Bernanke believed that the U.S. economy would have a ‘soft landing’ in the wake of falling house prices in […]

Nearly 1 Million Workers Vanished Under Obama

http://news.investors.com/Article/597581/201201121629/jobless-figures-hide-real-problems.htm?src=IBDDAE By JOHN MERLINE, INVESTOR’S BUSINESS DAILY Posted 01/12/2012 04:29 PM ET nitial jobless claims unexpectedly jumped by 24,000 last week to 399,000 as more workers lost their jobs, the Labor Department said Thursday. At the same time, the economy continues to lose workers. In the 30 months since the recession officially ended, nearly 1 million […]