JPMorgan Chase overcharged troops on mortgages : The bank also tells NBC News that it improperly foreclosed on more than a dozen military families.
States Warned of $2 Trillion Pensions Shortfall: US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund.
State Budgets: Year Ahead Looms As Toughest Yet: If 2011 is hinting at a national recovery, there is little sign of it in statehouses across the country.
Texas: Thousands of Job Cuts May Be Just the Beginning: With some top state leaders warning that Texas’ dire fiscal situation will lead to the loss of several thousand state jobs, House budget writers will release their first draft budget today — and big job cuts may be just the beginning.
Deep layoffs take effect in struggling NJ city: About 335 workers, representing one-sixth of the local government work force, lost their jobs, according to Mayor Dana Redd. It was worst in the public safety departments, where nearly half the police force and close to one-third of the city's firefighters were laid off.
Detroit may close half of its schools: Detroit Public Schools would close nearly half of its schools in the next two years, and increase high school class sizes to 62 by the following year, under a deficit-reduction plan filed with the state.
Half of Younger Americans Have Pre-Existing Conditions: A new study by the Department of Health and Human Services has found that 129 million Americans under the age of 65—roughly half of that demographic—have medical conditions that could keep them from getting insurance, reports say.
Scientists warn California could be struck by winter ‘superstorm’: A group of more than 100 scientists and experts say in a new report that California faces the risk of a massive "superstorm" that could flood a quarter of the state's homes and cause $300 billion to $400 billion in damage.
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