| Blunt Wants To Criminalize Mortgage Fraud
JEFFERSON CITY, Mo. -- As national concern about home foreclosures and sub-prime loans grows, Gov. Matt Blunt on Monday proposed sending swindlers to prison. Blunt's plan would make mortgage fraud a state felony, with a sentence of up to seven years in prison. It also would allow state departments to punish those who committed mortgage fraud. In a written statement, the governor said his plan would help at-risk homeowners forestall foreclosure. A spokeswoman for Blunt said the main targets are "foreclosure consultants" who advertise that they can help homeowners who are worried about losing their homes but then never help out. The governor calls for a hot line within the Department of Insurance, Financial Institutions and Professional Registration so that borrowers can get information about avoiding foreclosures.
Cleveland suit smells like a pig
Running a pig farm is a sloppy business. Lagoons of manure put a stench in the wind and may even contaminate the neighbors' wells. "Creating a public nuisance" is what they call it. And for pig farmers, public- nuisance lawsuits can be a cost of doing business. Last week, the city of Cleveland filed a public-nuisance lawsuit against some of the biggest pig farmers I know: 21 investment banks and lenders whose subprime-mortgage- lending practices have allegedly turned Cleveland into a sty. "The city has become the poster child for the national foreclosure crisis," the city's lawsuit reads. "An average of 20 Cleveland homeowners faced the grim reality of foreclosure every day in 2007." After suffering more than 7,500 foreclosures last year, Cleveland now has "entire streets, blocks and neighborhoods" of abandoned homes that have become "eyesores . . .
U.S. economy's downturn has minimal impact on local firms
With the U.S. economy slowing, more consumers are cooking at home to save money. And that's a good thing for Pittsburgh food giant H.J. Heinz Co., which does more business through grocery stores than restaurants. Heinz's overall results held up in its most recent quarter, even though food service operating income dipped. "Heinz is having a record year, so we are not seeing a significant impact as a result of any economic slowdown," said Michael Mullen, director of global corporate affairs. Despite all the talk of an impending U.S. recession, some of the biggest employers and companies in southwestern Pennsylvania are reporting no major fallout yet from the recent downturn, nor do they expect to freeze new hiring or capital expenditures. Many are citing a surge in demand from outside the United States as a reason for optimism.
Obama wins South Carolina primary
I'm even more discouraged when it is the media who is pushing their own agenda. How much more obvious could it get? Anyway, best to you all in everything….I believe in you and wish you the most Freedom & Peace you never thought possible. .
Iowa's unemployment rate reaches 4% in December
Iowa lost 900 jobs in December, with nearly half coming from the construction industry, a signal that the national housing crisis is beginning to affect the state's economy, officials said of a new jobless report Wednesday.
Iowa's December unemployment rate climbed to 4 percent, the first time since January 2006. .
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