World-News

Today's report from RealtyTrac serves as a warning to big banks, Fannie, Freddie and local communities; The foreclosure glut is coming, and they'd better be ready to get rid of that glut in a big way.

http://www.cnbc.com/id/41059824/?



New Hit to Strapped States

With the market for municipal bonds tumbling, cities, hospitals, schools and other public borrowers are scrambling to refinance tens of billions of dollars of debt this year, another sign that the once-safe market is under duress.

http://on.wsj.com/g1FUj2



U.S. Bills States $1.3 Billion in Interest Amid Tight Budgets

As if states did not have enough on their plates getting their shaky finances in order, a new bill is coming due - from the federal government, which will charge them $1.3 billion in interest this fall on the billions they have borrowed from Washington to pay unemployment benefits during the downturn.

http://www.nytimes.com/2011/01/15/us/politics/15stimulus.html?_r=2&hp



Home price drops exceed Great Depression

Zillow: Home prices fell for the 53rd consecutive month in November, taking the decline past that of the Great Depression for the first time in the prolonged housing slump, according to Zillow.

http://www.reuters.com/article/idUSTRE70961E20110111?



City puts a stop to homeless outreach

Bobby and Amanda Herring spent more than a year providing food to homeless people in downtown Houston every day. That ended two weeks ago when the city shut down their "Feed a Friend" effort for lack of a permit.

http://www.chron.com/disp/story.mpl/metropolitan/7381016.html


From Information Clearing House



http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=budget
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=+municipal+bonds
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=home+price+drop
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=foreclosure
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Great+Depression
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Big+Banks
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Fannie+Mae
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Freddie+Mac
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=unemploy+benefit
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=homeless

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