Foreclosures Rise to 24% of U.S. Home Purchases as Short Sales Increase

Foreclosures Rise to 24%

of U.S. Home Purchases

as Short Sales Increase

Feb-29-2012--US homes in or nearing foreclosure accounted for almost a fourth of residential purchases in the last three months of 2011 as lenders approved more short sales, where the price is less than the amount owed. Deals for bank-owned and distressed properties rose to 24 percent of total home sales from 20 percent in the third quarter, “We expect to see foreclosure-related sales increase in 2012, particularly pre-foreclosure sales, Banks may “aggressively” resume unloading distressed property after an 18-month delay brought on by federal and state legal probes into flawed foreclosure paperwork and documentation, The fourth quarter showed lenders turning to short sales as a “better option” than holding a house whose borrower doesn’t make any payments,

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Stocks rise,

heading for best February in 14 years

Feb-29-2012--The Nasdaq composite index cracked 3000 on Wednesday for the first time since December 2000 as the stock market headed for its best February finish in 14 years.

The milestone for the Nasdaq, heavy with technology stocks, came a day after the Dow Jones industrial average closed above 13,000 for the first time since May 2008.

Stocks opened higher after the government said that the economy grew faster at the end of last year than previously estimated a 3 percent annual rate, the best reading since the spring of 2010.

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Ron Paul SCHOOLS Ben Bernanke

on PYRAMID SCHEME!

Feb-29-2012--Today at the Financial Services Hearing, Ron Paul taught Ben Bernanke a thing or two about economics and real money!

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Ben Bernanke Schools Ron Paul on Gold

Feb-29-2012-Consumer spending is an important issue, but the congressman is mistaken in saying that the Federal Reserve has spent any money. They have lent money. That's not dissipation of the money. They have got all of the money back.

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Deadly Tornadoes Strike the Midwest

Feb-29-2012--At least nine people are dead after a string of tornadoes sweeps through the Midwest; Kansas, Missouri, Illinois and Indiana all dealing with widespread damage.

More than 100 people have been hurt as homes were crushed by the storms' powerful winds.

And the danger isn't over yet.

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At Least 13 Killed as Tornadoes

Rake Midwest States

Feb-29-2012-BRANSON,Mo-At least 13 people were killed overnight as a line of tornadoes marched across the Midwest, flattening parts of several towns, officials said Wednesday. Hardest hit was Harrisburg, Ill., where 10 deaths were reported, along with nearly 100 injuries and at least 200 homes destroyed or damaged.

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Iran's Most Powerful Take Feud to the Polls

Feb-29-2012- Iran's parliamentary elections on Friday are shaping up as a contest by proxy between President Mahmoud Ahmadinejad, who seeks public endorsement of his efforts to wield broad authority,

and Supreme Leader Ayatollah Ali Khamenei, who has struggled to keep his populist president in check.

Supporters of Supreme Leader and President Vie for Dominance; Regime Loyalist Sees a Contest Between 'Better and Best.'

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Divided conservatives clash in Iranian elections

Feb-29-2012-Iran's parliamentary election on Friday will pit allies of President Mahmoud Ahmadinejad against those loyal to Supreme Ayatollah Ali Khamenei

It is the country's first national election since a disputed presidential poll in 2009

The contest is being boycotted by reformist groups and not all Iranians will vote in protest at the status quo. Iranian filmmaker Nasser Taghavi "Going to the polls doesn't make any difference"

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Top French court strikes down genocide bill

Feb-29-2012--PARIS/ANKARA - France's highest legal authority ruled Tuesday that a new law that would have made it illegal to deny the mass killing of Armenians by Ottoman Turks nearly a century ago was unconstitutional, a move quickly welcomed by Turkey.

Turkey, which recognizes that many Armenians died in 1915, says "genocide" is an inaccurate term to describe the events because it argues that thousands were killed in massacres and counter-massacres led by both Turks and Armenians. Armenians argue that 1.5 million of their people were killed deliberately by the Ottoman Turkish Empire.

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Interpol website suffers

'Anonymous cyber-attack'

Feb-29-2012--Interpol's website appears to have been the victim of a cyber-attack after the international police agency announced the arrests of 25 suspected members of the hacking activist group Anonymous in Europe and South America.

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Cautious welcome for North Korea

nuclear freeze

Feb-29-2012--North Korea's pledge to suspend uranium enrichment, as well as nuclear and long-range missile tests, has received a cautious international welcome.

The announcement comes two months after Kim Jong-un came to power following the death of his father, Kim Jong-il. Correspondents say it could pave the way for the resumption of six-party disarmament negotiations with Pyongyang, which broke down in 2009.

North Korea's nuclear issue, a concern now for over 20 years, has long been a game of cat and mouse - or snakes and ladders. ”

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Syria prepares to 'cleanse' rebels

Feb-29-2012--The Syrian regime has shown a new determination to crush its opponents, vowing to "cleanse" a rebel-held district in the besieged city of Homs after nearly four weeks of shelling.

Government troops massed outside the embattled neighbourhood of Baba Amr, raising fears among activists of an imminent ground invasion that could endanger thousands of residents, as well as two trapped Western journalists who have been under heavy bombardment.

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Try Assad for war crimes:

Hillary Clinton

Feb-29-2012-The US is mounting pressure on Syrian president Bashar al-Assad to step down as violence continues to escalate.

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1 million could get mortgages reduced by average of $20,000; 750,000 could get $2,000 checks Feb-06-2012--

1 million could get mortgages reduced by average of $20,000; 
750,000 could get $2,000 checks

Feb-06-2012--WASHINGTON - California and New York were considering Monday whether to join most other states in backing a long-awaited settlement with banks over foreclosure abuses. The deal would require the five largest mortgage lenders to reduce loans for about 1 million households. The reduced loans would benefit homeowners who are behind on their payments and owe more than their homes are worth. The lenders would also send checks for about $2,000 to hundreds of thousands of people who lost homes to foreclosure.

The money available to homeowners could run as high as $25 billion if all states approve the deal.

The five lenders — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — have already agreed to the settlement. In settling the charges, the states would agree not to pursue further investigations against the banks in civil court. The deal would not protect the banks from criminal investigations.

The few states that have resisted the deal have expressed concern that it would limit their ability to take action against the banks for any past wrongdoing that turns up later. California’s backing is particularly crucial. It was among the states hardest hit by the foreclosure crisis. And it has the most residents “underwater”: They owe more on their loan than their home is worth. Without California’s participation, the money available to homeowners nationally would be about $19 billion rather than $25 billion.

The settlement would apply only to privately held mortgages issued from 2008 through 2011. Banks own about half of all U.S. mortgages — roughly 31 million loans. The settlement would end a painful chapter that emerged from the 2008 financial crisis, when home values sank and millions edged toward foreclosure. Many companies that process foreclosures failed to verify documents. Some employees signed papers they hadn’t read or used fake signatures to speed foreclosures — an action known as robo-signing.

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Antarctic Lake Drilling Race Nears Close as Russians Drill Through Ice

Antarctic Lake Drilling Race Nears Close as Russians Drill Through Ice

Feb-06-2012--Russia, the United States, and the United Kingdom are racing to see who can reach an ancient lake buried two and a half miles beneath Antarctica's ice.

The 14-million-year-old Lake Vostok has been sealed off from the surface of the earth for millennia, and holds water that could also be ancient—flowing between a network of subglacial lakes.

As such, the body of water, which is roughly the same size as Lake Ontario, may be home to cold-loving organisms that have developed unique evolutionary devices. While the Russians are extremely close to breaking through with a thermal drill, they won't be able to sample the water until late 2012.

That's great and everything, but didn't we learn anything about disturbing the secrets of the Antarctic continent from movies like The Thing and Alien Vs. Predator?

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President Obama Speaks Before a Cabinet Meeting

President Obama Speaks 
Before a Cabinet Meeting

Feb-01-2012--WASHINGTON - Seeking cooperation in a polarized climate, President Barack Obama called on Congress Tuesday to act quickly on bipartisan measures that would extend tax breaks for small businesses and help startup companies raise money.

He said he would sign the legislation "right away," to give entrepreneurs incentives to expand their businesses or start new ones.

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US Plays Down Warning By Israeli

Over Iran's Missiles

Feb-02-2012--JERUSALEM - A senior Israeli official said Thursday that the missile testing site near Tehran that was destroyed in a huge explosion three months ago was developing missiles with a range of about 6000 miles that could reach the United States. Iranian nuclear program is a threat not only to Israel but to other nations, creating “a nightmare for the free world.” He said that it was a concern to Arab states as well as to the United States and Israel.

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Panetta concerned Israel

months from striking Iran

Feb-02-2012--Defense Secretary Leon Panetta is expressing new concerns about Iran's underground nuclear program, this time telling Washington Post columnist David Ignatius he's worried Israel may decide to attack it as early as this spring. "Panetta believes there is a strong likelihood that Israel will strike Iran in April, May or June.”

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Iran, perceiving threat from West, willing to attack on US soil, US finds

Feb-01-2012--US intelligence agencies believe that Iran is prepared to launch terrorist attacks inside the United States in response to perceived threats from America and its allies, the US spy chief said Tuesday.

That plot “shows that some Iranian officials — probably including Supreme Leader Ali Khamenei — have changed their calculus and are now more willing to conduct an attack in the United States in response to real or perceived U.S. actions that threaten the regime,”

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Iran Says The End of the World Has Arrived

Feb-01-2012--New evidence has emerged that the Iranian government sees the current unrest in the Middle East as a signal that the Mahdi--or Islamic messiah--is about to appear.

never-before-seen video produced by the Iranian regime that says all the signs are moving into place -- and that Iran will soon help usher in the end times.

the Iranian regime believes the chaos is divine proof that their ultimate victory is at hand.

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Trump endorses Romney : Go get 'em

Feb-02-2012--Celebrity business magnate Donald Trump endorsed Mitt Romney for president Thursday, telling reporters he will not mount an independent campaign if Romney is the Republican nominee.

"It's my honor, real honor, to endorse Mitt Romney," Trump said, with Romney and his wife standing nearby. Calling Romney "tough" and "smart," Trump said, "he's not going to continue to allow bad things to happen to this country."

Romney responded by praising Trump for "an extraordinary ability to understand how our economy works and to create jobs" and for being "one of the few who has stood up to say China is cheating" in international trade.

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Bernanke Won’t Trade Inflation Goal for Jobs

Feb-02-2012--Federal Reserve Chairman Ben S. Bernanke said the central bank will seek to keep prices rising at a 2 percent rate and rejected suggestions that it would sacrifice its inflation goal to boost employment

In his prepared remarks, Bernanke acknowledged recent improvement in some economic data while cautioning that the economy still faces risks, including fiscal deficits that in the long-run must be reduced.

The nonpartisan Congressional Budget Office said this week it expects the budget deficit to narrow to $1.1 trillion this fiscal year from $1.3 trillion last year. The deficit would reach $1.5 trillion by 2022.

Swiss bank accounts to release names

Feb-02-2012--Swiss banks will most likely settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter.

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Feds indict Swiss bank Wegelin claiming it helped US taxpayers cheat IRS out of $1.2 billion

Feb-02-2012--WASHINGTON - The US Justice Department says it has indicted Switzerland's oldest private bank, claiming it conspired with Americans and others to hide more than $1.2 billion in client assets from the Internal Revenue Service .

Justice officials said Thursday that they also seized more than $16 million from Wegelin & Co.’s correspondent bank in the U.S.

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'US ruling elites want to control planet'

Feb-01-2012--A court in the US State of New York has issued a subpoena to social networking service giant, Twitter, ordering the online company to surrender all relevant data of an Occupy Wall Street activist.

The New York court has also ordered Twitter to provide all the 'tweets' of Malcolm Harris from September 15 to the end of the year.

Harris is one of the oldest activists in the occupy movement.

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Anti-abortion groups cite alleged

cancer-abortion link to explain Komen's ...

Feb-02-2012--As the Susan G. Komen for the Cure foundation faces accusations that it split with Planned Parenthood over political pressure, at least a couple pro-life groups are claiming the organization may have acted out of concern over an alleged link between abortion and breast cancer.

The theory that induced abortion increases the risk of breast cancer has been studied for decades and is a controversial one -- and one that is contested by major medical organizations.

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