Foreclosures fuel Detroit blight, cost city $500 million – The Detroit News

The Detroit NewsForeclosures fuel Detroit blight, cost city $500 millionThe Detroit NewsDetroit — Subprime lending and bargain-basement sales of foreclosed homes by banks and other mortgage lenders have helped create miles of blight in Detroit and a half-billion dollar liability for the city. The Detroit News scoured thousands of …and more »

Despair and anger as Puerto Ricans cope with debt crisis – Honolulu Star-Advertiser

Despair and anger as Puerto Ricans cope with debt crisisHonolulu Star-AdvertiserBut a 1920 law, the Jones Act, which requires Puerto Rico to receive its shipments from the United States on U.S.-built ships with mainly American crews, makes the cost of transporting goods even more expensive. Recently, it got costlier, Baker said …and more »

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