Search Results for: Federal bankruptcy law

Consumer Credit Counseling Service of Greater Atlanta Helps Record Number of People in 2008

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More than one-half million Americans turned to Consumer Credit Counseling Service of Greater Atlanta (CCCS of Greater Atlanta) last year to avoid foreclosure, pay down credit card debt and determine if they should file for bankruptcy.
The 509,718 individuals who received credit counseling or attended educational classes in 2008 represented a 26% increase from the 403,763 [...]

Student debt levels portend rising loan default rates

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Not long ago, Dan Brown and his roommate headed from San Francisco to Las Vegas. They were aiming to win big so they could pay off their student loans.
“If you don’t try, you can’t win,” said Brown, a 26-year-old marketing consultant. He’s sitting on nearly $100,000 in loans taken out to pay for his bachelor’s [...]

Democrats Win Big in Congressional Races but Face Spending Constraints

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Democrats expanded their majorities in Congress yesterday, with poll results available as of early Wednesday indicating the party was likely to pick up several seats in the U.S. House of Representatives and at least five in the Senate, but fall shy of the 60-vote majority they would need in that chamber to block Republican filibusters.
Most [...]

I Want a Bailout

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My financial crisis started way before the housing bubble burst. I can trace my fiscal woes back to the day I signed my first tenure-track contract, signifying that I was going to use my doctorate to become a professor.
Since that fateful decision, in the fall of 2002, I have declared bankruptcy, lost a home in [...]

Finance world big backer of Senator Reed

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Sen. Jack Reed, a key supporting player in this month’s launch of a $700-billion rescue of the financial system, has taken a large fraction of his multimillion-dollar reelection fund from people in banking, securities, real estate and insurance — the industries with the biggest direct stake in the historic federal intervention.
The financial sector accounts for [...]

State failing to track new jobs

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During the past decade, the state has given companies more than $1.7 billion in tax breaks, loans, grants and other incentives to expand or locate in Ohio.
In exchange, the businesses promised to create nearly 200,000 jobs.
How many jobs actually were created?
The state can’t tell you.
In fact, officials say that, without examining their files on a [...]

NYU Stern Expert Supports Fannie Mae and Freddie Mac Rescue; Argues for Privatization

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New York University Leonard N. Stern School of Business economics professor Lawrence J. White, PhD, an expert in banking, financial regulation and applied microeconomics, is available to comment on the government’s rescue of Fannie Mae and Freddie Mac.
Professor White argues:
* The US Treasury had to support Fannie and Freddie in order [...]