Student Loans Crunch Starves Greedy Colleges
By Ted Rall
Student loans are a big segment of the banking industry, amounting to about $85 billion last year. Until recently, they were also hugely profitable. But the credit crunch has caused some lenders to pull out of the federal program. As a result, the pool of money for college loans available has fallen 13 percent. Continue
'The Bread You Possess Belongs to the Hungry'
By St. Basil
Bishop of Caesarea in the 4th century
They first took possession of the common property, and then they keep it as their own because they were the first to take it. If one had taken what is necessary to cover one’s needs and had left the rest to those who are in need, no one would be rich, no one would be poor, no one would be in need. Continue
US ; Foreclosures Climb 65%: U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short.
Inflation Data Show Food Prices Soaring: The Consumer Price Index increased at an annualized rate of 7.2% in April, before seasonal adjustments, the Labor Department is reporting. However, food prices climbed at annualized rate of 10.8% in the month of April.