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Greece struggles to contain debt crisis
Merkel rejected the notion that a Greek bankruptcy — a possibility raised a day earlier by her deputy that spooked markets — would provide a quick solution to the eurozone debt crisis. She argued that Europe instead needs to stick to its efforts to cut
Updated: 09/13/2011 12:46P
Union and Big Three hash out autoworker wages
The main debate is over the two-tier wage system that was put in place four years ago to cut the automakers' costs -- an unsuccessful attempt to save them from bankruptcy. The union wants a modest wage increase for the new second-tier workers who earn
Updated: 09/13/2011 12:45P
College Graduates Driving increase in Bankruptcy Filings
By interns College graduates are the fastest-growing group of consumers who have filed for bankruptcy protection in the past five years, according to a new study by a financial nonprofit, which underscores the broad reach of the Great Recession.
Updated: 09/13/2011 12:43P
Lehman Three Years Later
ALSO in this issue, Paul Imison on the future of Mexico's left. by DEAN BAKER As we prepare to celebrate the third anniversary of the Lehman bankruptcy and the ensuing financial crisis, it's a good time to assess the situation and ask what has changed.
Updated: 09/13/2011 12:41P
US home of disgraced David Drumm could be sold for 3m
The bankruptcy official in charge of Drumm's estate has proposed the sale of the luxury home at one of the most exclusive addresses in Cape Cod, Massachusetts. Kathleen Dwyer, the official, has agreed a price of just over $4m including furniture and
Updated: 09/13/2011 12:41P
Fair trustee settles with local political groups
The Fair Finance bankruptcy trustee has agreed to settle lawsuits with three local political groups in a bid to recover contributions from indicted financier Tim Durham. The settlements with the Marion County Republican Central Committee,
Updated: 09/13/2011 12:36P
Devils have time to get financial house in order
The New Jersey Devils are in serious financial trouble and may be in default on a large loan payment but they are not about to slide into bankruptcy and a bank repossession. At least not until next June at the earliest. Thanks to something called a
Updated: 09/13/2011 12:34P
Tribeca mixed-use building to hit foreclosure auction block
The building, which was formerly owned by Mymon Realty LLC, sits on a 2900-square-foot lot with an alternative address of or 37 Lispenard Street and features five loft-style apartments -- the units on the second, third and fifth floors are full-floor
Updated: 09/13/2011 12:29P
Winery Auction Set for White House Gate Crashers
White House gate crashers Tareq and Michaele Salahi, once drunk on the fame of crashing President Obama's first state dinner in November 2009, are hosting a very sober bankruptcy auction Saturday, a major move to bring normalcy back to their lives.
Updated: 09/13/2011 12:28P
Fear of Greek default hurts world markets
In addition, the German economy minister published an op-ed arguing that an “orderly bankruptcy” of Greece must be an option. Greece has been relying on international bailouts to keep it solvent. Germany's opinion on the Greek crisis is taken seriously
Updated: 09/13/2011 12:27P
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