Monthly Archives: July 2010

Calif. considers loan for troubled Modoc County

By CATHY BUSSEWITZThe Associated PressFriday, July 23, 2010; 12:43 AM SACRAMENTO, Calif. — California finance officials will consider Friday whether to loan as much as $12.5 million to Modoc County as the rural, cash-poor municipality prepares for the possibility of … Continue reading

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House Probe Finds 153 VIP Loans Went to Fannie Employees – WSJ.com

By JOHN R. EMSHWILLER Countrywide Financial Corp.’s controversial “VIP” mortgage program made 153 loans to employees of Fannie Mae, the giant federally backed financial institution that helped fuel Countrywide’s growth, according to a letter released Tuesday by Rep. Darrell Issa. … Continue reading

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Retirees’ Bankruptcy Protection Act Trumps ERISA, 3rd Circuit Rules

In a huge win for labor, a federal appeals court has ruled that a corporation in bankruptcy cannot terminate its retirees’ health and life insurance benefits — even if its ERISA plan explicitly reserved its right to unilaterally terminate such … Continue reading

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June Foreclosure Report – Mixed for California

Discovery Bay, CA, July 13, 2010 – ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for June 2010. Foreclosure activity was mixed in June after being down … Continue reading

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Education: More California school districts edging closer to insolvency, state says – latimes.com

An increasing number of California school districts are edging closer to financial insolvency, state officials reported Tuesday. One immediate effect has been teacher layoffs — probably in the thousands, although neither state officials nor the California Teachers Assn. have final … Continue reading

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Negotiator in Rangers’ bankruptcy case being threatened | Sports News | News for Dallas, Texas | Dallas Morning News

FORT WORTH — Frustrated fans have apparently decided to target the negotiator appointed to work out a deal to lift the Rangers out of Chapter 11. William K. Snyder, 51, has suggested that the bidding be reopened at a new … Continue reading

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It’s “Chapter 66” as U.S. States Face De Facto Bankruptcy :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

A number of U.S. states are facing bankruptcy – in fact if not in name – with Illinois and California leading the way. When an individual goes bankrupt in the United States, it’s usually a Chapter 7. When a business … Continue reading

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