The word poverty continues to be untouchable and taboo in USA – politicians, media personnel and the public in general have skirted the issue. But reality is that there is crisis related to poverty raging across the country.
This silence is most probably because the poor do not have the political clout to appoint representatives [...]
It seems that American Canyon, a city in California State, is not immune to the lingering recession and will have to trim its expenses. It is not yet clear where the slashing will be done said Rich Ramirez, the manager of the city.
Foreclosures have greatly harmed American Canyon bringing down property prices. This has led [...]
28 Oct
Posted by Julia Redstone as Finance
Recently the administrators of Social Security announced that the beneficiaries of social security would not get any increase in calculation for cost of living. Those who have been retirees for the first time have not had any increase sine 1975. The current financial crisis with raging unemployment and foreclosures has made their position more vulnerable.
Calculation [...]
26 Oct
Posted by Julia Redstone as Finance
By posting a loss in the third quarter of 2009 the condition of the bank became all too apparent. It is weighed down by defaults in credit cards and mortgage loans. During the last six months the bank had showed the biggest gains.
In the third quarter it reported a loss of $1 billion. The [...]
To drive home the green factor money will be doing the talking. Owners of bungalows will get assistance for improving energy efficiency. Chicago Green Bungalow Block in tandem with Green Home Expo will highlight renovation tools for homes. Most of these tools are environment friendly.
Right in the heart of a noise-free block surrounded by foliage [...]
15 Oct
Posted by Julia Redstone as Finance
The US economy is on the recovery track. Factories are recruiting part-time workers to replenish depleted inventory. The housing sector is also seeing some positive changes what with sales of new homes increasing.
Now the Federal government is also taking some steps to put the economy on the recovery track. US Treasury Secretary Tim Geithner and [...]
Unless the housing sector improves the economic health will not return to sustainable levels. But housing recovery is seriously hampered by severe dearth of credit. Nearly two out of three builders of single family residential houses are complaining that lack of loans is putting at risk the fragile recovery that has just started to inch [...]
09 Oct
Posted by Julia Redstone as Finance
Although the economy has started to inch upwards it is still fragile. This prompted the Federal Reserve to keep running the emergency operations so as to keep the spending and borrowing schedules undisturbed. But later they will have to rein in the plans that had been launched to keep down the mortgage rates and encourage [...]
Regulators have shut down Atlanta based bank in Georgia – it being the 95th bank to suffer this fate in the current year. In the forthcoming months more banks are expected to suffer the same fate as defaults are increasing in the commercial mortgage sector. These bank failures could put at risk the insurance deposit [...]
The Securities and Exchange Commission (SEC) charged Bank of America for lying to its investors when seeking their approval to complete its acquisition of Merrill Lynch for $50 billion in 2008.
Documents sent to share holders of Bank of America stated that the executives of Merrill Lynch would not get bonuses they usually receive at the [...]
