Bankruptcy And Debts

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Martin Hutchinson submits: The federal budget deficit hasn't received a lot of press lately, what with all the worries about the U.S. financial system, the home mortgage market, and the rescues that might be necessary to save both. In fact, it's a bad sign, since the Bush administration and the Democrats in Congress have joint responsibility for keeping the budget deficit under control, so they would both be crowing about it if they were doing a good job. We already know the budget ..other part.

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Wachovia, with fresh CEO, loses CFO. Just two weeks after Wachovia (WB) replaced its CEO with former U.S. Treasury Undersecretary Robert Steel, CFO Thomas Wurtz says he will leave the troubled bank once a successor is named. The company gave no explanation. Foreclosures more than doubled in Q2 vs. a year ago; one in every 171 U.S. homeowners lost their home, up 121% from a year ago. Falling home prices have left some owing more than their home is worth, one reason for the increase - which in .. Keep Reading.

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By Mr.Pink Eyes  President Bush has flip-flopped on the mortgage bailout bill and will now sign this burden on the taxpayers into law if it reaches his desk. He has been threatening to veto this legislation but is now clearly in public relations mode. He wants to try to raise his approval ratings before he leaves office and he thinks that this is a means to do so.  He is now prepared to bail out people who bought houses that they couldn't afford and he is ready to make us pay for .. full article.

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