FROM Lloyd Segal
Foreclosures are up but so is the need for housing From January to the end of March, mortgage foreclosures in California rose 800% as compared to the first three months of last year. Countrywide Financial , the nation’s largest mortgage lender, says delinquencies are up even among customers with good credit.
Home Loans and Easy Money, until Times Get Hard No less an authority than Alan Greenspan, former Chair of the Federal Reserve , called sub-prime mortgages a tool for democratizing credit. Sub-prime mortgages with no down payments are advertised as the road to home ownership for families who can't afford regular loans. They often gamble that they'll be able to re-finance after the house goes up in value, but before new interest rates and higher payments kick in. Now, with the housing market is cooling off, the formula is failing to work for more and more people. Foreclosures are up and they're likely to increase even more. Did stock analysts paint an overly rosy picture of the sub-prime mortgage market to generate investment? Do risky loans to millions of vulnerable borrowers threaten the whole economy? We hear from economists, consumer advocates, a state official who's going after shady lending practices, and John and Delia, two homeowners caught in the sub-prime squeeze.
Trump's new look at civil rights and global warming President Trump is reportedly ready to pull the US out of the Paris Agreement on Climate Change. We look at the possible consequences. On the second half of the program, we hear about cuts in Obama-Era civil rights programs called for by the Trump Administration's first budget plan.
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
Venezuela spirals into economic and political chaos Venezuela, a country whose potential for prosperity is unmatched, finds itself on the verge of civil war. What sustains the repressive government? With time running out, guest host León Krauze looks at what the international community can do to pull the country from the edge of collapse.