Some overextended borrowers stop paying the mortgage and capitalize on the time that it takes to be evicted.
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For Some Homeowners in Foreclosure, a Rent-Free Approach
Job Outlook for Teenagers Worsens
Stimulus money that helped cushion some government job programs last summer is running out, and private employers are reluctant to hire.
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The Disservice Economy
Companies have little incentive to provide excellent customer service for problems that occur only rarely, an economist writes.
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More of Michael Lewis on Bank Reform
It’s not just cosmetic, the financial writer says.
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What We’re Reading: World-Changing Maps
Links from around the Web.
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Job Searches Around the Country, Part II
Comparing states’ unemployment rates with how long their jobless have to search for work.
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European Central Bank’s Report Issues Warning
Borrowing costs could rise as European banks compete with governments in the bond market.
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Global Equities Mixed on Quiet Day
Investors shrugged off more sobering news about shaky government finances amid new signs that Asia’s economies are pushing ahead with their recovery.
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The New Poor: Blacks in Memphis Lose Decades of Gains
Foreclosures and unemployment have destroyed black wealth and income and erased two decades of slow progress.
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Fears Rise in Europe Over Potential for Deflation
Economists are beginning to worry that deflation is a bigger threat than inflation in Europe.
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Euro, stocks down on fears of coming slowdown
HONG KONG (Reuters) – The euro and Asian stocks slid on Tuesday with creeping suspicion that a peak in the recovery has passed and slowing growth in China and Europe in the second half of the year will be obstacles to risky trades.
ECB warns of more bank loan losses
FRANKFURT/MADRID (Reuters) – The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a “second wave” of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
Gulf oil spill threat widens
VENICE, Louisiana (Reuters) – Oil from BP’s out-of-control Gulf of Mexico oil spill could threaten the Mississippi and Alabama coasts this week, U.S. forecasters said on Monday, as public anger surged over the country’s worst environmental disaster.
Fed’s Evans says policy easing was not enough
SEOUL (Reuters) – The U.S. central bank’s liquidity support was helpful in containing the 2008 financial crisis but it could have done more, Federal Reserve Bank of Chicago President Charles Evans said on Tuesday.
May retail sales seen up but spending erratic
DETROIT (Reuters) – Retailers are expected to show a sizable increase in sales for the month of May, but erratic trends of consumer spending could grow more pronounced over a seasonally weaker period for shopping.
