Bailout and Financial Crisis News

BELLEVILLE, Ill. (AP) — A small plane that slammed into a house and hangar in a subdivision built for aviation enthusiasts never sent out a distress signal before crashing, authorities said Monday. Two people believed to be on board were presumed killed. No one on the ground was injured when the single-engine Piper Malibu went down [...]

Good morning! Here’s what we’re reading today: — Rising FHA default rate foreshadows a crush of foreclosures The Washington Post reports: About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency’s figures show. – Obama to Outline $30 Billion in Small Bank [...]

…there were growing reports of mass destruction — a hospital is believed to have collapsed, along with a sections of the National Palace. Haitian President René Préval is said to be seeking safe haven on the island… Part of the road to Canape Vert has collapsed, as have houses in the mountains of Petionville, where [...]

Forget subprime mortgages. New data released Monday shows that students attending for-profit colleges have a 1 in 5 rate of default. ——————————————————————————– AP: More than one in five borrowers of federal student loans who attend for-profit colleges default within three years of repayment, new figures made available by the U.S. Department of Education on Monday show. Historically, the [...]

By DOUG FERGUSON (AP) – 16 minutes ago Tiger Woods was injured early Friday when he lost control of his SUV outside his Florida mansion, and a local police chief said Woods’ wife used a golf club to smash out the back window to help get him out. The world’s No. 1 golfer was treated and released [...]

Seth Borenstein of AP writes: AP IMPACT: Statisticians reject global cooling: Have you heard that the world is now cooling instead of warming? You may have seen some news reports on the Internet or heard about it from a provocative new book. (In this book cover image released by Random House, “Super Freakonomics: Global Cooling, Patriotic Prostitutes, [...]

Let us assume for a moment that the pilots actually weren’t asleep as Northwest 188 flew 150 miles past its destination (unlikely, but go with it). Then what WERE they doing? They’ve denied sleeping, fighting, and arguing. Any bets?   Associated Press, MINNEAPOLIS (AP) — The first officer of the Northwest Airlines jet that missed its destination by 150 miles [...]

First the Obama Peace Prize, now this headline: Saudis ask for aid if world cuts dependence on oil There are plenty of needy countries at the U.N. climate talks in Bangkok that make the case they need financial assistance to adapt to the impacts of global warming. Then there are the Saudis. Saudi Arabia has led a quiet [...]

Meet Dave Ramsey, the Christian Suze Orman: —– AP, BRENTWOOD, Tenn. — With the economy gasping for life last spring, about 1.3 million people gathered in 5,600 churches nationwide to behold the nation's leading prophet of personal finance. Televised live from a church in Edmond, Okla., Dave Ramsey’s infomercial-style “Town Hall for Hope” was a masterful mix of [...]

Meet Dave Ramsey, the Christian Suze Orman: —– AP, BRENTWOOD, Tenn. — With the economy gasping for life last spring, about 1.3 million people gathered in 5,600 churches nationwide to behold the nation's leading prophet of personal finance. Televised live from a church in Edmond, Okla., Dave Ramsey’s infomercial-style “Town Hall for Hope” was a masterful mix of [...]

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