U.S. Apologizes for Guatemala Syphilis Experiment: The United States apologized on Friday for an experiment conducted in the 1940s in which U.S. government researchers deliberately infected Guatemalan prison inmates, women and mental patients with syphilis.
China labour strikes gain momentum: Labour union movements seeking better wages and working conditions have stepped up strikes and protests across China at an unprecedented rate. It has been described as nothing short of a revolution.
Ireland reveals full horror of banking crisis: The Central Bank warned that the state rescue of Anglo Irish could cost as much as 34.3 billion euros (46.6 billion US dollars) and will help push the public deficit to a record 32 percent of gross domestic product this year.
Spain: Ten million workers take part in general strike: Nearly 70 percent of Spanish workers—10 million—took part in Wednesday’s general strike. In some sectors, such as mining, metal, auto manufacture, electronic, fishing and other industries, participation was nearly 100 percent. The movement also encompassed many self-employed workers and small businesses.
Nobel Prize-winning economist Joseph Stiglitz calls for second federal stimulus: “We will see in the next two years the real cost of there not being a second round of stimulus,” he said. “We will see the economy slow down at a very high economic cost.”
JPMorgan Halts Foreclosures, "Robo-Signers" Appear Commonplace: JPMorgan Chase has stopped foreclosures in 23 states to review the accuracy of its filings. According to the bank, the cases may contain “defects” and “flawed paperwork” which could give homeowners reason to contest court-ordered evictions. JPMorgan’s foreclosure suspension affects some 56,000 borrowers.
Foreclosures and REOs Were 24% of Q2 Sales: RealtyTrac: New data released by RealtyTrac Thursday shows that foreclosure and REO homes accounted for 24 percent of all residential sales during the second quarter.
Tens of thousands lose stimulus-subsidized jobs: With the program expiring, many of the adults have been told not to report to work anymore. And it won't be easy for them to find a new position at time when the unemployment rate continues to hover at 9.6%
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