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Mass. woman's 1 cent debt paid in full AP
AP - A 74-year-old blind woman's 1 cent debt to a Massachusetts city has been settled.
2008-11-19 06:50:07
Citigroup to cut 53,000 employees
Citigroup is shedding about 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt...
2008-11-18 03:11:28
Pak turns to 'Friends' for aid to combat financial crisis, Islamist insurgents
Washington, Nov 17 ANI: In the wake of the ongoing recession and economy collapse, Pakistan is learnt to have turned to Britain and 11 other "Friends of Democratic Pakistan" for help to save itself from financial crisis and military defeat by Islamist insurgents, said a report in timesonline.com According to the report, Pakistani officials are in Abu Dhabi today to ask for billions of dollars from "Friends of Democratic Pakistan". The meeting comes just two days after Pakistan agreed to a loan of 7.6 billion dollars from the International Monetary Fund IMF.The likely outcome of the meeting is that the Friends will agree to help Pakistan secure more funds from international agencies such as the Asian Development Bank. To do that, however, Pakistan will have to abide by unpopular IMF conditions, which could precipitate another political crisis. Already the Government is under fire for failing to curb its own profligacy or clarify what strings are attached to the IMF loan. Pakistani officials say they were over the worst of a crisis that had brought them within days of defaulting on foreign debt repayments, and which had threatened to derail a military campaign against Taleban and al-Qaeda militants on the Afghan border. "We have fulfilled our commitment that Pakistan will never default," the report quoted Shaukat Tareen, finance adviser to Pakistan's Prime Minister, as saying. Pakistan's foreign exchange reserves have now plummeted to less than 7 billion dollars, enough to pay for just two months of imports. Its Rupee has slumped by one-fifth this year, the stock market by more than a third, and inflation stands staring at 25 per cent. Rich Pakistanis have exacerbated the crisis by illegally transferring an estimated $10 billion dollars overseas in the past year.Pakistani officials, who have emphasised the economic cost of supporting the War on Terror in recent days, say that they expect good news from the meeting with "Friends", now that the IMF loan has been agreed upon.The "Friends", however, are playing down expectations - not least because of their own pressing financial woes, said the report. "Most people are pretty adamant it's not going to be another donors' conference. It's there to support the democratic process in Pakistan," it quoted a Western official as saying. ANI
2008-11-17 10:06:08
Ben's Battle Against Debt Deflation
Without the counted and uncounted trillions of dollars pumped into the financial system, debt deflation would wreck us.
2008-11-16 09:00:00
Under-fire George Osborne says: 'I was just telling the truth about sterling'
George Osborne has defended his warning that sterling could be about to collapse saying it was his job was to tell the truth about the consequences of ballooning debt.
2008-11-16 09:00:00
College Loan Slavery: Student Debt Is Getting Way Out of Hand
The quest for a college degree is dumping millions of young people deep into a pit of debt from which many will never recover.
2008-11-15 21:14:20
Democratic Party has a $15 million debt
Party officials say the Democratic National Committee has a $15 million debt in the wake of the Nov. 4 election. The party...
2008-11-15 21:10:22
DNC chair faces $15M debt; fight for RNC boss
The Democratic Party faces a smooth transition as President-elect Barack Obama essentially chooses the next national chairman whose initial task will be retiring a $15 million debt...
2008-11-15 21:07:22
Nigeria: CIS Advocates Debt Restructuring for Capital Market Operators
The Chartered Institute of Stockbrokers CIS has called on the Central Bank of Nigeria CBN to allow banks in the country to restructure the debts owed it by operators in the capital market.
2008-11-15 20:08:23
Nigeria: Debt Relief Fund Committed to MDGS -Yar'Adua
THE Federal Government has said that in its quest to achieve the MDGs by 2015, it has decided to commit the debt relief funds to boost activities...
2008-11-15 20:07:23

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Mass. woman's 1 cent debt paid in full AP

Citigroup to cut 53,000 employees

Pak turns to 'Friends' for aid to combat financial crisis, Islamist insurgents

Ben's Battle Against Debt Deflation

Under-fire George Osborne says: 'I was just telling the truth about sterling'

College Loan Slavery: Student Debt Is Getting Way Out of Hand

Democratic Party has a $15 million debt

DNC chair faces $15M debt; fight for RNC boss

Nigeria: CIS Advocates Debt Restructuring for Capital Market Operators

Nigeria: Debt Relief Fund Committed to MDGS -Yar'Adua