Signaling continued economic distress, Deutsche Bank estimated today that over 50 percent of mortgage holders may owe more than their homes are worth. Already 25 percent of mortgages are now “underwater.” “The percentage of “underwater” loans may rise to 48 percent, or 25 million homes, as prices drop through the first quarter of 2011,” Bloomberg News reported.
Hiroshima's mayor has urged global leaders to back President Barack Obama's call to abolish nuclear weapons as Japan marked the 64th anniversary of the world's first atomic bombing.
The AFL-CIO has called on its union affiliates to defend lawmakers’ health care reform town hall meetings from “Corporate…mob rule” in recent days.
Hollywood screenwriter Budd Schulberg passed away Wednesday at the age of 95, and the press is filled with obituaries noting his work and commenting on his most famous off-screen moment — as a 'friendly witness' before the House Un-American Activities Committee 'naming names' in the early 1950s.
Saying that jamming more than 150,000 inmates into facilities designed for just over half that number has resulted in health care so poor it amounts to cruel and unusual punishment, a panel of three federal judges Aug. 4 ordered California to slash its prison population by more than a quarter over a two-year period.
Civil rights leaders and immigrant advocacy groups say they welcome President Barack Obama’s new plan to institute badly needed reforms within the country’s broken immigration detention system.
The Arctic Ocean could become a stagnant, polluted sea within 60 years if nothing is done to cut global warming, a scientific study warns.
An army soldier was sentenced to a one month jail term and demoted Wednesday for refusing to fight in Afghanistan. Victor Agosto, a veteran of the Iraq war who was due for release in June was a victim of the armed services' “stop loss” program and was told he would be redeployed to Afghanistan.
Civil rights and labor organizations this week praised the introduction of the Employment Non-discrimination Act (ENDA) by a bipartisan group of Senators. ENDA would create a federal standard for outlawing workplace discrimination based on sexual orientation or gender identity, say the bill's authors, Sens. Jeff Merkley, D-Ore., Susan Collins, R-Maine, Olympia Snowe, R-Maine, and Edward Kennedy, D-Mass.
Chicago — The University of Chicago Medical Center, citing financial shortfalls, is closing its Women’s Health Center on 47th Street, which annually serves thousands of women on the South Side. Protests over the last two months forced UCMC to delay the official closing, but at present, rather than posting a new closing-date, the medical center is quietly dismantling the clinic piecemeal.