Thursday, May 15, 2008

More economic issues


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.

US Foreclosure Filings Surge 65% In April

Did Bear Stearns Fall...Or Was It Pushed?

CitiGroup Is BEYOND REPAIR - New York Post

US Heading For Double-Digit Inflation

UK Expects Homes To Drop 5-10% In 2008

UK Fuel Costs Soar - Inflation Up 3%

Americans Sell Personal Possessions For Cash

UK Mortgage Lending Worst In 30 Years

Royal Dutch Shell Pulls Out Of $10B Iran Project

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