Wednesday, 26 October 2011 09:52
'The Obama administration is introducing a new program on Monday designed to lower monthly mortgage payments for more troubled homeowners.
But a key new condition in the plan would shift the financial liability for refinanced loans from Wall Street banks to the American taxpayer. And by focusing on lower payments, the program does not confront what housing experts view as the core problem in the foreclosure crisis -- borrower debt that exceeds the value of one's home.'
Read more: New Obama Foreclosure Plan Shifts Fraud Liability From Wall Street To Taxpayers
Wednesday, 26 October 2011 09:50
Wednesday, 26 October 2011 09:47
'As Germany raised fresh objections to the proposed rescue deal for indebted eurozone countries, the International Monetary Fund signalled it was considering stepping in - a move that could lead to British taxpayers paying to support the single currency.
Amid mounting Coalition tensions over Europe between the Conservatives and Liberal Democrats, David Cameron will today travel to Brussels, where European Union leaders have promised to hammer out a deal to resolve Europe’s debt crisis.'
Read more: Eurozone Debt Crisis: Talks Break Down as Angela Merkel Rejects Rescue Deal
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