Help The Middle ClassNews and Information For The Heart Of America
MOST UNDERREPORTED STORY OF THE WEEK: Freddie Mac & Fannie Mae In Critical Condition
Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing “critical” financial problems, federal regulators said Monday.
The companies suffer from severe financial, operational and compliance weaknesses, the Federal Housing Finance Agency said a report to Congress detailing its annual examinations of the firms. Taken over by the [...]
Saudia Arabia Warns Oil Could Hit Record $200 A Barrel In 2 Years
Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within two to three years, as energy leaders on Monday decried a blow to investment in expanding capacity due to the financial crisis.
Energy ministers and officials at the Group of Eight energy summit in Rome are meeting as oil [...]
Starting Point by Gerri Willis: Buying A Foreclosed Home
Gerri’s Tip No. 1. Don’t buy in a neighborhood that has an unusually large number of foreclosed homes.
A study released yesterday by RealtyTrac.com and Truila.com shows that more Americans than ever are interested in buying foreclosed properties.
What’s the best way to buy a property?
Buy from a bank and look for a REO, a real-estate owned [...]
Overlooked Story Of The Week: Foreclosures Jump In April
Foreclosures in April exceeded even March’s blistering pace with a record 342,000 homes receiving notices of default, auction notices or undergoing bank repossessions, according to a regular industry report.
One of every 374 U.S. homes received a filing during the month, the highest monthly rate that RealtyTrac, an online marketer of foreclosed properties, has recorded in [...]
Ning: The Future Of Online Social Networking?
Whether you’re into baseball or backgammon, Harry Potter or heavy metal, Ning has an online network for you.
A fast-growing, free Web site launched two years ago, Ning lets members custom build their own social-networking platforms based around their passions and pastimes.
As Facebook and MySpace connect people to friends and family, Ning gathers users around common [...]
Foreclosure Auction Gives Families A Chance To Own 1st Home
For Victor Guevares, winning a bid at a raucous foreclosure auction two months ago was just the first step toward achieving his dream of home ownership. And after getting through several obstacles along the way, he finally moved his family into the two-story, three-bedroom house in Queens.
The auction process isn’t as easy as it looks, [...]
Opinion/Charles Krauthammer- Washington Post: OBAMA IN BUSH CLOTHING
“We were able to hold it off with George Bush. The idea that we might find ourselves fighting with the Obama administration over these powers is really stunning.”
– Unnamed and dismayed human rights advocate, on legalizing indefinite detention of alleged terrorists,
the New York Times, May 21
If hypocrisy is the homage that vice pays to virtue, [...]
North Korea Confirms Second Nuclear Test
North Korea has conducted its second nuclear test, the country’s state news agency announced Monday.
The announcement came little more than an hour after the U.S. Geological Survey reported a magnitude 4.7 seismic disturbance at the site of North Korea’s first nuclear test — in October 2006.
North Korea’s Korean Central News Agency said Monday’s test was [...]
14 Rules To Keep Your Car Running For A Very Long Time
1. Don’t Drive
Want your car to last? Don’t use it. That sounds obvious, but it’s worth keeping in mind.
Chances are there are plenty of times when you currently use your car that you could be walking, biking, using public transportation or carpooling — choices that are better for the environment, your wallet, your health, and [...]
Iran Demonstrates Its Clout: Hosts Polictical Summit With Afghanistan And Pakistan
Iran on Sunday hosted its first three-way summit meeting with Pakistan and Afghanistan to discuss cooperation on regional issues, the latest sign of Iran’s emergence as a regional power.
With Pakistan and Afghanistan fighting to hold back the rising tide of radical, Islamic insurgencies led by the Taliban, the meeting in Tehran seemed designed by Iran [...]
